Harris (NYSE:HRS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “Shares of Harris Corporation have outperformed its industry over the last six months. In fact, stocks like Harris have been buoyed by the possibility of greater military spending by the United States, owing to tensions with North Korea. The company's efforts to reward shareholders through dividends and buybacks are impressive. Multiple multiple contract wins also bode well. However, the company's high debt levels remain a potent threat. Moreover, the company's struggles on the top line front are concerning. The disappointing performance of the Communication Systems unit also raise concerns.”

A number of other brokerages also recently weighed in on HRS. Seaport Global Securities reissued a “buy” rating and set a $145.00 price target (up previously from $135.00) on shares of Harris in a research report on Monday, October 9th. Credit Suisse Group reissued an “outperform” rating and set a $155.00 price target (up previously from $144.00) on shares of Harris in a research report on Wednesday, November 1st. They noted that the move was a valuation call. Cowen reissued a “buy” rating and set a $150.00 price target on shares of Harris in a research report on Tuesday, October 31st. Jefferies Group boosted their price target on Harris from $135.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Finally, ValuEngine downgraded Harris from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $145.43.

Shares of Harris (NYSE HRS) traded up $1.31 during midday trading on Thursday, reaching $143.74. The company’s stock had a trading volume of 686,808 shares, compared to its average volume of 679,502. The firm has a market capitalization of $17,130.00, a P/E ratio of 26.87, a PEG ratio of 3.43 and a beta of 1.13. The company has a current ratio of 1.11, a quick ratio of 0.64 and a debt-to-equity ratio of 1.14. Harris has a 1 year low of $99.13 and a 1 year high of $144.94.

Harris (NYSE:HRS) last announced its quarterly earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.44 billion. Harris had a return on equity of 23.36% and a net margin of 9.02%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.28 earnings per share. equities analysts forecast that Harris will post 5.99 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. EP Wealth Advisors LLC boosted its holdings in shares of Harris by 1.0% during the second quarter. EP Wealth Advisors LLC now owns 1,875 shares of the communications equipment provider’s stock worth $205,000 after acquiring an additional 19 shares during the period. Thrivent Financial For Lutherans boosted its holdings in shares of Harris by 0.6% during the second quarter. Thrivent Financial For Lutherans now owns 4,685 shares of the communications equipment provider’s stock worth $511,000 after acquiring an additional 30 shares during the period. Comerica Securities Inc. boosted its holdings in shares of Harris by 3.5% during the second quarter. Comerica Securities Inc. now owns 2,068 shares of the communications equipment provider’s stock worth $226,000 after acquiring an additional 70 shares during the period. Ropes Wealth Advisors LLC boosted its holdings in shares of Harris by 5.4% during the second quarter. Ropes Wealth Advisors LLC now owns 1,635 shares of the communications equipment provider’s stock worth $178,000 after acquiring an additional 84 shares during the period. Finally, Advisor Group Inc. boosted its holdings in shares of Harris by 1.8% during the second quarter. Advisor Group Inc. now owns 5,262 shares of the communications equipment provider’s stock worth $547,000 after acquiring an additional 94 shares during the period. Institutional investors own 84.28% of the company’s stock.

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