Harris (NYSE:HRS) had its price objective increased by investment analysts at Credit Suisse Group from $167.00 to $187.00 in a research note issued to investors on Wednesday, January 31st. The firm currently has an “outperform” rating on the communications equipment provider’s stock. Credit Suisse Group’s price target would indicate a potential upside of 21.65% from the company’s current price.
HRS has been the subject of several other reports. ValuEngine upgraded Harris from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. JPMorgan Chase & Co. lifted their price objective on Harris from $138.00 to $148.00 and gave the stock an “overweight” rating in a report on Wednesday, November 1st. Cowen reiterated a “buy” rating and issued a $170.00 price objective on shares of Harris in a report on Tuesday, January 30th. Jefferies Group boosted their price target on Harris from $135.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Finally, Zacks Investment Research upgraded Harris from a “hold” rating to a “buy” rating and set a $165.00 price target for the company in a research note on Thursday, January 18th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $154.57.
Harris (NYSE:HRS) traded up $3.88 during midday trading on Wednesday, reaching $153.72. The company had a trading volume of 969,435 shares, compared to its average volume of 816,199. Harris has a 52 week low of $104.16 and a 52 week high of $160.67. The company has a market cap of $18,040.00, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 3.93 and a beta of 1.29. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.22 and a quick ratio of 0.68.
Several institutional investors have recently added to or reduced their stakes in HRS. Thrivent Financial For Lutherans grew its stake in shares of Harris by 0.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,685 shares of the communications equipment provider’s stock valued at $511,000 after purchasing an additional 30 shares during the period. Advisor Group Inc. grew its stake in shares of Harris by 1.8% during the 2nd quarter. Advisor Group Inc. now owns 5,262 shares of the communications equipment provider’s stock valued at $547,000 after purchasing an additional 94 shares during the period. Renaissance Technologies LLC lifted its position in shares of Harris by 411.4% during the 2nd quarter. Renaissance Technologies LLC now owns 249,359 shares of the communications equipment provider’s stock valued at $27,200,000 after buying an additional 200,600 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Harris by 17.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 694,078 shares of the communications equipment provider’s stock valued at $75,711,000 after buying an additional 103,234 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Harris by 2.6% during the 2nd quarter. Stifel Financial Corp now owns 68,377 shares of the communications equipment provider’s stock valued at $7,451,000 after buying an additional 1,740 shares in the last quarter. Institutional investors and hedge funds own 84.91% of the company’s stock.
Harris Corporation is a technology company that provides products, systems and services that have defense and civil government applications, as well as commercial applications. It offers its products and services to government and commercial customer. It operates in four segments: 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 and technology, among others, 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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