Aggressive’ Bullish Options Activity Seen in Harris Corporation

 Aggressive' Bullish Options Activity Seen in Harris Corporation

In today’s session Harris Corporation (HRS) registered an unusually high (259) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the February, 2017 call, expecting serious HRS increase. With 259 contracts traded and 1194 open interest for the Feb, 17 contract, it seems this is a quite bullish bet. The option with symbol: HRS170217C00090000 closed last at: $3.9 or 2.5% down. About 608,805 shares traded hands or 4.13% up from the average. Harris Corporation (NYSE:HRS) has risen 19.10% since March 31, 2016 and is uptrending. It has outperformed by 16.57% the S&P500.

Harris Corporation (NYSE:HRS) Ratings Coverage

Out of 7 analysts covering Harris (NYSE:HRS), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. Harris has been the topic of 14 analyst reports since August 10, 2015 according to StockzIntelligence Inc. As per Friday, June 10, the company rating was initiated by Citigroup. The company was maintained on Wednesday, February 3 by RBC Capital Markets. The rating was maintained by RBC Capital Markets on Wednesday, November 4 with “Outperform”. On Wednesday, September 7 the stock rating was maintained by Citigroup with “Buy”. The firm has “Buy” rating given on Tuesday, September 8 by Goldman Sachs. The firm has “Market Perform” rating given on Tuesday, March 15 by Cowen & Co. Jefferies initiated it with “Buy” rating and $100 target price in Thursday, December 17 report. The rating was upgraded by JP Morgan on Monday, October 12 to “Overweight”. RBC Capital Markets initiated it with “Outperform” rating and $90 target price in Monday, October 12 report. The company was upgraded on Monday, August 10 by Barclays Capital.

According to Zacks Investment Research, “Harris Corporation is an international company focused on communications equipment for voice, data and video applications. The company structures its operations around five operating divisions, which divisions have been organized on the basis of specific communications technology and markets. For the most part, each operating division has its own marketing, engineering, manufacturing and service organization. The company produces most of the products it sells, except for certain broadcast products sold by the Broadcast Communications Division.”

Insitutional Activity: The institutional sentiment decreased to 0.95 in 2016 Q2. Its down 0.08, from 1.03 in 2016Q1. The ratio dropped, as 73 funds sold all Harris Corporation shares owned while 151 reduced positions. 46 funds bought stakes while 167 increased positions. They now own 109.08 million shares or 0.10% more from 108.97 million shares in 2016Q1.
Qs holds 0% of its portfolio in Harris Corporation (NYSE:HRS) for 1,521 shares. Carret Asset Management Ltd Liability holds 0.33% of its portfolio in Harris Corporation (NYSE:HRS) for 20,375 shares. Guardian Life Of America has 0% invested in the company for 461 shares. California State Teachers Retirement Sys accumulated 271,897 shares or 0.05% of the stock. The New York-based Oppenheimer And Com Inc has invested 0.1% in Harris Corporation (NYSE:HRS). The Ohio-based Meeder Asset Inc has invested 0% in Harris Corporation (NYSE:HRS). Schwab Charles Inv accumulated 478,364 shares or 0.05% of the stock. Highlander Capital Mngmt Ltd Liability Corp has 23 shares for 0% of their US portfolio. Coldstream Cap Management Inc owns 19,410 shares or 0.29% of their US portfolio. Norinchukin Natl Bank The has 6,543 shares for 0.01% of their US portfolio. Raymond James Fincl Service Advisors Incorporated reported 67,171 shares or 0.05% of all its holdings. The Texas-based Motco has invested 0% in Harris Corporation (NYSE:HRS). Groesbeck Investment Mgmt Corp Nj has 6,400 shares for 0.39% of their US portfolio. British Columbia last reported 0.04% of its portfolio in the stock. Winton Grp Inc, a United Kingdom-based fund reported 96,480 shares.

Insider Transactions: Since June 8, 2016, the stock had 0 buys, and 6 sales for $5.44 million net activity. Shares for $8,200 were sold by MEHNERT DANA A on Friday, June 10. Another trade for 17,700 shares valued at $1.56 million was sold by FOX SHELDON J. The insider MIKUEN SCOTT T sold $827,200. GATTLE WILLIAM H sold 1,366 shares worth $128,063.

Harris Corporation is a technology company that provides products, systems and services that have defense and civil government applications, as well as commercial applications. The company has a market cap of $11.98 billion. It offers its services and products to government and commercial customer. It has a 32.92 P/E ratio.

HRS Company Profile

Harris Corporation, incorporated on December 6, 1926, is a technology firm that provides products, systems and services that have defense and civil government applications, as well as commercial applications. The Firm offers its services and products to government and commercial customer. The Firm operates in four divisions: Communication Systems, which serves markets in tactical communications and defense, and public safety networks; Space and Intelligence Systems, which provides complete Earth observation, environmental, geospatial, space protection, and intelligence solutions from advanced sensors and payloads, as well as ground processing and information analytics; Electronic Systems, which offers a portfolio of solutions in electronic warfare, avionics, wireless technology, command, control, communications, computers and intelligence (C4I) and undersea systems, and Critical Networks, which provides managed services supporting air traffic management, energy and maritime communications, and ground network operation and sustainment, as well as information technology (IT) and engineering services.

More notable recent Harris Corporation (NYSE:HRS) news were published by: Nasdaq.com which released: “Earnings Reaction History: Harris Corporation, 42.9% Follow-Through Indicator …” on November 01, 2016, also Businesswire.com with their article: “Harris Corporation Reports Fiscal 2017 First Quarter Results” published on November 01, 2016, Streetinsider.com published: “Harris Corp. (HRS) to Sell CapRock Communications to SpeedCast for $425M” on November 01, 2016. More interesting news about Harris Corporation (NYSE:HRS) were released by: Businesswire.com and their article: “State of Florida Awards Harris Corporation $700 Million Communications Network …” published on October 31, 2016 as well as Upi.com‘s news article titled: “New night vision goggles from Harris Corporation” with publication date: October 28, 2016.

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