Investors Sell Shares of Harris (HRS) on Strength (HRS)

Investors sold shares of Harris Co. (NYSE:HRS) on strength during trading hours on Monday. $36.36 million flowed into the stock on the tick-up and $66.92 million flowed out of the stock on the tick-down, for a money net flow of $30.56 million out of the stock. Of all stocks tracked, Harris had the 30th highest net out-flow for the day. Harris traded up $0.50 for the day and closed at $160.66

A number of equities analysts recently issued reports on HRS shares. Cowen restated a “buy” rating and issued a $194.00 target price on shares of Harris in a report on Thursday. Zacks Investment Research upgraded Harris from a “hold” rating to a “buy” rating and set a $174.00 target price on the stock in a report on Thursday, January 31st. ValuEngine upgraded Harris from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Raymond James lifted their price target on Harris from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, October 16th. Finally, Credit Suisse Group lifted their price target on Harris from $190.00 to $209.00 and gave the company an “outperform” rating in a report on Monday, October 15th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $182.33.

The company has a quick ratio of 1.04, a current ratio of 1.27 and a debt-to-equity ratio of 1.00. The company has a market cap of $18.84 billion, a PE ratio of 24.72, a PEG ratio of 2.50 and a beta of 1.23.

Harris (NYSE:HRS) last issued its quarterly earnings results on Tuesday, January 29th. The communications equipment provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.05. Harris had a return on equity of 26.55% and a net margin of 13.29%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the company posted $1.67 earnings per share. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts forecast that Harris Co. will post 8.01 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its position in shares of Harris by 15.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,344,309 shares of the communications equipment provider’s stock valued at $227,471,000 after buying an additional 178,395 shares in the last quarter. Palo Capital Inc. bought a new stake in shares of Harris in the 3rd quarter valued at $1,638,000. Arizona State Retirement System increased its position in shares of Harris by 0.7% in the 3rd quarter. Arizona State Retirement System now owns 91,601 shares of the communications equipment provider’s stock valued at $15,500,000 after buying an additional 637 shares in the last quarter. Checchi Capital Advisers LLC bought a new stake in shares of Harris in the 3rd quarter valued at $221,000. Finally, Marshall Wace LLP increased its position in shares of Harris by 692.8% in the 3rd quarter. Marshall Wace LLP now owns 127,670 shares of the communications equipment provider’s stock valued at $21,603,000 after buying an additional 111,567 shares in the last quarter. 86.10% of the stock is currently owned by hedge funds and other institutional investors.

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About Harris (NYSE:HRS)

Harris Corporation provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems. It designs, develops, and manufactures radio communications products and systems, including single channel ground and airborne radio systems, multiband manpack and handheld radios, multi-channel manpack and airborne radios, and single-channel airborne radios, as well as wideband rifleman team, ground, and high frequency manpack radios.

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