Today’s Stock On Watch: Is Harris Corporation a Buy? The Stock Reaches All-Time High Today

Today's Stock On Watch: Is Harris Corporation a Buy? The Stock Reaches All Time High Today

The stock of Harris Corporation (NYSE:HRS) reached all time high today, Nov, 14 and still has $144.00 target or 37.00% above today’s $105.11 share price. This indicates more upside for the $13.14 billion company. This technical setup was reported by Barchart.com. If the $144.00 PT is reached, the company will be worth $4.86 billion 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 780,338 shares traded hands or 8.22% up from the average. Harris Corporation (NYSE:HRS) has risen 34.80% since April 12, 2016 and is uptrending. It has outperformed by 29.82% the S&P500.

Harris Corporation (NYSE:HRS) Ratings Coverage

Out of 8 analysts covering Harris (NYSE:HRS), 7 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 88% are positive. Harris has been the topic of 16 analyst reports since August 10, 2015 according to StockzIntelligence Inc. Jefferies initiated it with “Buy” rating and $100 target price in Thursday, December 17 report. The firm earned “Market Perform” rating on Tuesday, March 15 by Cowen & Co. JP Morgan upgraded the shares of HRS in a report on Monday, October 12 to “Overweight” rating. The firm earned “Outperform” rating on Wednesday, November 4 by RBC Capital Markets. Seaport Global Securities initiated the shares of HRS in a report on Monday, November 7 with “Buy” rating. RBC Capital Markets maintained the stock with “Outperform” rating in Wednesday, February 3 report. Citigroup maintained Harris Corporation (NYSE:HRS) rating on Wednesday, September 7. Citigroup has “Buy” rating and $112 price target. The company was upgraded on Monday, November 7 by Cowen & Co. RBC Capital Markets initiated Harris Corporation (NYSE:HRS) rating on Monday, October 12. RBC Capital Markets has “Outperform” rating and $90 price target. The company was initiated on Friday, June 10 by Citigroup.

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 worsened, 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.
Credit Agricole S A accumulated 0.01% or 22,976 shares. Wellington Shields Cap Management Lc has 10,600 shares for 0.15% of their US portfolio. Motco accumulated 133 shares or 0% of the stock. Us Bancorp De has invested 0.01% of its portfolio in Harris Corporation (NYSE:HRS). Guardian Life Insur Of America has 461 shares for 0% of their US portfolio. Mark Sheptoff Finance Planning Ltd Llc accumulated 3,450 shares or 0.22% of the stock. Tower Rech Cap Ltd Company (Trc) has invested 0.01% of its portfolio in Harris Corporation (NYSE:HRS). Blackrock Inv Management Limited Liability Co last reported 275,927 shares in the company. Moreover, Nomura Asset Company Ltd has 0.02% invested in Harris Corporation (NYSE:HRS) for 14,943 shares. Century reported 40,450 shares or 0% of all its holdings. Blackrock Japan Limited last reported 0.05% of its portfolio in the stock. Bowling Mgmt Limited Liability Co last reported 0.12% of its portfolio in the stock. Nordea Mngmt last reported 456,710 shares in the company. Oppenheimer And accumulated 39,536 shares or 0.1% of the stock. Herndon Cap Management Lc holds 2.26% or 709,659 shares in its portfolio.

Insider Transactions: Since June 8, 2016, the stock had 0 insider buys, and 7 insider sales for $5.61 million net activity. 100 shares were sold by MEHNERT DANA A, worth $8,200 on Friday, June 10. ZOISS EDWARD J had sold 1,884 shares worth $175,193 on Thursday, November 3. $128,063 worth of shares were sold by GATTLE WILLIAM H on Tuesday, September 6. $1.56 million worth of Harris Corporation (NYSE:HRS) was sold by FOX SHELDON J on Monday, August 8. MIKUEN SCOTT T sold $827,200 worth of Harris Corporation (NYSE:HRS) on Tuesday, August 2.

More notable recent Harris Corporation (NYSE:HRS) news were published by: Businesswire.com which released: “Harris Corporation Weather Instrument and Ground System Key to US Government …” on November 14, 2016, also Nasdaq.com with their article: “Earnings Reaction History: Harris Corporation, 42.9% Follow-Through Indicator …” published on November 01, 2016, Businesswire.com published: “Harris Corporation Unfurlable Mesh Reflectors Successfully Deploy on Fifth US …” on November 08, 2016. More interesting news about Harris Corporation (NYSE:HRS) were released by: Upi.com and their article: “New night vision goggles from Harris Corporation” published on October 28, 2016 as well as Businesswire.com‘s news article titled: “Harris Corporation Launches New Lightweight Night Vision Binocular” with publication date: October 26, 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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