Harris Corporation (NYSE:HRS)‘s stock had its “buy” rating reissued by equities researchers at Cowen and Company in a note issued to investors on Thursday. They currently have a $150.00 target price on the communications equipment provider’s stock. Cowen and Company’s target price would indicate a potential upside of 11.24% from the stock’s current price.

Several other equities analysts also recently commented on HRS. Zacks Investment Research downgraded shares of Harris Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Jefferies Group LLC reissued a “buy” rating and issued a $125.00 price objective on shares of Harris Corporation in a research report on Friday, July 7th. BidaskClub raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Credit Suisse Group assumed coverage on shares of Harris Corporation in a research report on Monday, August 28th. They issued an “outperform” rating and a $144.00 price objective for the company. Finally, ValuEngine raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $133.86.

Shares of Harris Corporation (HRS) traded up 0.49% during midday trading on Thursday, reaching $135.50. The company’s stock had a trading volume of 406,842 shares. The company has a market cap of $16.23 billion, a price-to-earnings ratio of 30.55 and a beta of 1.18. Harris Corporation has a 12 month low of $88.89 and a 12 month high of $137.16. The stock has a 50-day moving average of $129.98 and a 200 day moving average of $116.93.

Harris Corporation (NYSE:HRS) last issued its quarterly earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 EPS for the quarter, meeting the consensus estimate of $1.49. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. Harris Corporation had a net margin of 8.53% and a return on equity of 23.49%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.45 EPS. On average, analysts predict that Harris Corporation will post $6.01 earnings per share for the current fiscal year.

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In other news, SVP Sheldon J. Fox sold 50,300 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $118.24, for a total value of $5,947,472.00. Following the completion of the sale, the senior vice president now owns 73,092 shares of the company’s stock, valued at approximately $8,642,398.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher D. Young sold 4,070 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $118.93, for a total transaction of $484,045.10. Following the completion of the sale, the insider now directly owns 46,131 shares of the company’s stock, valued at approximately $5,486,359.83. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,357 shares of company stock valued at $8,643,111. 1.91% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in HRS. OppenheimerFunds Inc. lifted its position in shares of Harris Corporation by 1.1% in the 1st quarter. OppenheimerFunds Inc. now owns 7,929 shares of the communications equipment provider’s stock worth $882,000 after purchasing an additional 87 shares during the period. Teachers Advisors LLC lifted its position in shares of Harris Corporation by 34.3% in the 1st quarter. Teachers Advisors LLC now owns 239,732 shares of the communications equipment provider’s stock worth $26,675,000 after purchasing an additional 61,223 shares during the period. Thrivent Financial For Lutherans lifted its position in shares of Harris Corporation by 6.2% in the 1st quarter. Thrivent Financial For Lutherans now owns 4,655 shares of the communications equipment provider’s stock worth $518,000 after purchasing an additional 270 shares during the period. Global X Management Co. LLC lifted its position in shares of Harris Corporation by 31.0% in the 1st quarter. Global X Management Co. LLC now owns 2,356 shares of the communications equipment provider’s stock worth $262,000 after purchasing an additional 557 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Harris Corporation by 9.2% in the 1st quarter. Geode Capital Management LLC now owns 1,225,774 shares of the communications equipment provider’s stock worth $136,201,000 after purchasing an additional 103,770 shares during the period. 84.98% of the stock is owned by hedge funds and other institutional investors.

About Harris Corporation

Analyst Recommendations for Harris Corporation (NYSE:HRS)

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