Price Action Report: What Will Happen to Harris Corporation Next? The Stock Just Reaches All-Time High

Price Action Report: What Will Happen to Harris Corporation Next? The Stock Just Reaches All Time High

The stock of Harris Corporation (NYSE:HRS) reached all time high today, Nov, 7 and still has $150.59 target or 56.00% above today’s $96.53 share price. This indicates more upside for the $12.46 billion company. This technical setup was reported by Barchart.com. If the $150.59 PT is reached, the company will be worth $6.98B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 136,092 shares traded hands. Harris Corporation (NYSE:HRS) has risen 25.57% since April 5, 2016 and is uptrending. It has outperformed by 23.61% the S&P500.

Harris Corporation (NYSE:HRS) Ratings Coverage

Out of 8 analysts covering Harris (NYSE:HRS), 6 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 75% are positive. Harris has been the topic of 15 analyst reports since August 10, 2015 according to StockzIntelligence Inc. Seaport Global Securities initiated Harris Corporation (NYSE:HRS) rating on Monday, November 7. Seaport Global Securities has “Buy” rating and $105 price target. Cowen & Co downgraded Harris Corporation (NYSE:HRS) rating on Tuesday, March 15. Cowen & Co has “Market Perform” rating and $90 price target. The stock of Harris Corporation (NYSE:HRS) has “Equal-Weight” rating given on Monday, August 10 by Barclays Capital. On Monday, October 12 the stock rating was initiated by RBC Capital Markets with “Outperform”. Goldman Sachs upgraded the shares of HRS in a report on Tuesday, September 8 to “Buy” rating. The stock of Harris Corporation (NYSE:HRS) earned “Buy” rating by Citigroup on Wednesday, September 7. The firm has “Buy” rating by Citigroup given on Friday, June 10. The stock of Harris Corporation (NYSE:HRS) earned “Buy” rating by Jefferies on Thursday, December 17. The firm has “Overweight” rating by JP Morgan given on Monday, October 12. RBC Capital Markets maintained Harris Corporation (NYSE:HRS) rating on Wednesday, November 4. RBC Capital Markets has “Outperform” rating and $97 price target.

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 Q2 2016. Its down 0.08, from 1.03 in 2016Q1. The ratio dived, 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.
Lord Abbett & Limited Liability Company accumulated 924,641 shares or 0.24% of the stock. Victory Inc owns 1,592 shares or 0% of their US portfolio. Cap Mgmt Associates Ny has invested 1.06% of its portfolio in Harris Corporation (NYSE:HRS). Eqis has 0.03% invested in the company for 4,699 shares. Rice Hall James And Associates Ltd Company accumulated 6,666 shares or 0.03% of the stock. Voya Inv Ltd Com accumulated 88,768 shares or 0.02% of the stock. Janney Montgomery Scott Lc has invested 0.05% of its portfolio in Harris Corporation (NYSE:HRS). Td Asset Mgmt last reported 0.02% of its portfolio in the stock. Principal Fin Grp holds 0.04% of its portfolio in Harris Corporation (NYSE:HRS) for 353,960 shares. Royal London Asset Ltd holds 0.06% or 43,250 shares in its portfolio. Prudential Fincl has 0.05% invested in the company for 326,908 shares. Winslow Evans And Crocker Inc has 106 shares for 0% of their US portfolio. The California-based Diligent Investors Limited Liability Company has invested 0.52% in Harris Corporation (NYSE:HRS). Orrstown Fin Service, a Pennsylvania-based fund reported 30 shares. Private Advisor Group Inc Lc owns 2,462 shares or 0.01% of their US portfolio.

Insider Transactions: Since June 8, 2016, the stock had 0 insider purchases, and 7 sales for $5.61 million net activity. GATTLE WILLIAM H sold $128,063 worth of Harris Corporation (NYSE:HRS) on Tuesday, September 6. $8,200 worth of Harris Corporation (NYSE:HRS) was sold by MEHNERT DANA A on Friday, June 10. 17,700 Harris Corporation (NYSE:HRS) shares with value of $1.56M were sold by FOX SHELDON J. Shares for $175,193 were sold by ZOISS EDWARD J. $827,200 worth of shares were sold by MIKUEN SCOTT T on Tuesday, August 2.

More notable recent Harris Corporation (NYSE:HRS) news were published by: Businesswire.com which released: “Harris Corporation Awarded $43 Million Follow-on Contract by National Cancer …” on November 07, 2016, also Nasdaq.com with their article: “Earnings Beat at Harris Corporation (HRS) in Q1” published on November 01, 2016, Upi.com published: “New night vision goggles from Harris Corporation” on October 28, 2016. More interesting news about Harris Corporation (NYSE:HRS) were released by: Businesswire.com and their article: “Harris Corporation Signs Definitive Agreement to Sell Its CapRock …” published on November 01, 2016 as well as Nasdaq.com‘s news article titled: “Earnings Reaction History: Harris Corporation, 42.9% Follow-Through Indicator …” with publication date: November 01, 2016.

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.

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