Harris Corporation (NYSE:HRS) announced its quarterly earnings data on Tuesday. The communications equipment provider reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.03, Bloomberg Earnings reports. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the business earned $1.28 earnings per share. The business’s revenue was down .5% on a year-over-year basis. Harris Corporation updated its FY18 guidance to $5.85-6.05 EPS.

Shares of Harris Corporation (HRS) traded up 0.22% on Wednesday, reaching $139.63. The company had a trading volume of 99,738 shares. Harris Corporation has a 1-year low of $92.35 and a 1-year high of $141.97. The stock has a market capitalization of $16.72 billion, a P/E ratio of 31.48 and a beta of 1.18. The company’s 50 day moving average price is $133.26 and its 200-day moving average price is $118.66.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.64%. Harris Corporation’s dividend payout ratio is 51.47%.

A number of equities research analysts recently commented on the company. Credit Suisse Group reiterated an “outperform” rating and issued a $155.00 target price (up from $144.00) on shares of Harris Corporation in a research report on Wednesday. They noted that the move was a valuation call. Jefferies Group LLC boosted their target price on Harris Corporation to $157.00 and gave the stock a “buy” rating in a research report on Wednesday. Cowen and Company restated a “buy” rating and set a $150.00 price objective on shares of Harris Corporation in a research report on Tuesday. Zacks Investment Research upgraded Harris Corporation from a “hold” rating to a “buy” rating and set a $153.00 price objective on the stock in a research report on Monday, October 16th. Finally, Seaport Global Securities restated a “buy” rating and set a $145.00 price objective (up from $135.00) on shares of Harris Corporation in a research report on Monday, October 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Harris Corporation has an average rating of “Buy” and an average target price of $145.00.

In related news, insider Christopher D. Young sold 4,070 shares of Harris Corporation stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $118.93, for a total value of $484,045.10. Following the completion of the sale, the insider now owns 46,131 shares in the company, valued at approximately $5,486,359.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Scott T. Mikuen sold 13,600 shares of Harris Corporation stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $123.36, for a total transaction of $1,677,696.00. Following the completion of the sale, the senior vice president now owns 61,349 shares of the company’s stock, valued at approximately $7,568,012.64. The disclosure for this sale can be found here. Insiders sold a total of 72,357 shares of company stock valued at $8,643,111 in the last quarter. 1.91% of the stock is owned by insiders.

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Harris Corporation Company Profile

Earnings History for Harris Corporation (NYSE:HRS)

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