The stock of Harris Corporation (NYSE:HRS) hit a new 52-week high and has $117.45 target or 22.00% above today’s $96.27 share price. The 7 months bullish chart indicates low risk for the $12.42 billion company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $117.45 price target is reached, the company will be worth $2.73 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 76,751 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. $112 is the highest target while $87 is the lowest. The $98.50 average target is 2.32% above today’s ($96.27) stock price. Harris has been the topic of 15 analyst reports since August 10, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Harris Corporation (NYSE:HRS) rating on Wednesday, February 3. RBC Capital Markets has “Outperform” rating and $97 price target. Seaport Global Securities initiated the shares of HRS in a report on Monday, November 7 with “Buy” rating. The rating was initiated by Citigroup with “Buy” on Friday, June 10. The company was initiated on Thursday, December 17 by Jefferies. Barclays Capital upgraded the shares of HRS in a report on Monday, August 10 to “Equal-Weight” rating. The rating was maintained by RBC Capital Markets with “Outperform” on Wednesday, November 4. The stock has “Overweight” rating given by JP Morgan on Monday, October 12. On Tuesday, September 8 the stock rating was upgraded by Goldman Sachs to “Buy”. Cowen & Co downgraded Harris Corporation (NYSE:HRS) rating on Tuesday, March 15. Cowen & Co has “Market Perform” rating and $90 price target. The rating was initiated by RBC Capital Markets on Monday, October 12 with “Outperform”.
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 is negative, 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.
Somerset Tru accumulated 12,691 shares or 0.65% of the stock. Weaver C Barksdale reported 10,718 shares or 1.55% of all its holdings. Architects holds 0% of its portfolio in Harris Corporation (NYSE:HRS) for 156 shares. Janus Capital Management Ltd Liability Corporation holds 459,532 shares or 0.03% of its portfolio. Wellington Shields Mgmt last reported 0.15% of its portfolio in the stock. The Japan-based Sumitomo Mitsui Asset Mngmt Ltd has invested 0.02% in Harris Corporation (NYSE:HRS). Barclays Public Ltd Com has invested 0% of its portfolio in Harris Corporation (NYSE:HRS). Global X Mgmt Co Limited holds 0.01% or 1,419 shares in its portfolio. Springbok Cap Management Lc holds 23,407 shares or 0.27% of its portfolio. State Of Tennessee Treasury Department holds 77,694 shares or 0.03% of its portfolio. The Pennsylvania-based Brick Kyle has invested 0.19% in Harris Corporation (NYSE:HRS). Tiaa Cref Trust Company Fsb Mo owns 13,187 shares or 0.01% of their US portfolio. Wealthtrust holds 200 shares or 0.01% of its portfolio. Fulton Comml Bank Na has 2,519 shares for 0.02% of their US portfolio. Whittier, a California-based fund reported 20 shares.
Insider Transactions: Since June 8, 2016, the stock had 0 buys, and 7 sales for $5.61 million net activity. GATTLE WILLIAM H also sold $128,063 worth of Harris Corporation (NYSE:HRS) on Tuesday, September 6. MIKUEN SCOTT T also sold $827,200 worth of Harris Corporation (NYSE:HRS) shares. FOX SHELDON J sold $1.56 million worth of Harris Corporation (NYSE:HRS) on Monday, August 8. MEHNERT DANA A had sold 27,000 shares worth $2.38M on Thursday, August 4. ZOISS EDWARD J sold $175,193 worth of Harris Corporation (NYSE:HRS) on Thursday, November 3.
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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.