Harris Corporation (HRS) Surges to All Time High, Is Now Top Performer

April 24, 2018 - By Peter Erickson

Harris Corporation (NYSE:HRS) Logo

Investors sentiment increased to 1.09 in 2017 Q4. Its up 0.10, from 0.99 in 2017Q3. It is positive, as 23 investors sold Harris Corporation shares while 207 reduced holdings. 91 funds opened positions while 160 raised stakes. 98.23 million shares or 1.10% less from 99.32 million shares in 2017Q3 were reported.
Cibc Asset Mgmt holds 17,493 shares or 0.02% of its portfolio. Bankshares Of Montreal Can holds 178,888 shares. Texas-based Twin Tree Mngmt L P has invested 0% in Harris Corporation (NYSE:HRS). Calamos Limited Liability Com has invested 0.11% in Harris Corporation (NYSE:HRS). Usa Finance Portformulas Corporation, a Michigan-based fund reported 20,971 shares. Raymond James Assoc holds 0.05% in Harris Corporation (NYSE:HRS) or 181,938 shares. Quantbot Technology L P holds 10,296 shares or 0.14% of its portfolio. Ancora Advsrs Ltd Liability Co owns 76,467 shares. Spectrum Mgmt Grp Incorporated holds 0.03% of its portfolio in Harris Corporation (NYSE:HRS) for 530 shares. Arizona State Retirement System has 0.11% invested in Harris Corporation (NYSE:HRS). Apg Asset Nv invested in 0.02% or 76,370 shares. Cap Rech Investors accumulated 2.79 million shares or 0.12% of the stock. State Teachers Retirement invested in 0.07% or 213,314 shares. Peapack Gladstone Financial holds 0.18% of its portfolio in Harris Corporation (NYSE:HRS) for 23,878 shares. Brookmont Cap holds 43,425 shares.

Since February 15, 2018, it had 0 insider buys, and 3 selling transactions for $12.22 million activity. Shares for $1.35M were sold by FOX SHELDON J on Thursday, February 15. 20,000 shares were sold by MIKUEN SCOTT T, worth $3.02 million.

The stock of Harris Corporation (NYSE:HRS) reached all time high today, Apr, 24 and still has $170.78 target or 4.00 % above today’s $164.21 share price. This indicates more upside for the $19.50 billion company. This technical setup was reported by Barchart.com. If the $170.78 PT is reached, the company will be worth $779.88M 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.

The stock decreased 2.83% or $4.79 during the last trading session, reaching $164.21. About 520,524 shares traded. Harris Corporation (NYSE:HRS) has risen 44.73% since April 24, 2017 and is uptrending. It has outperformed by 33.18% the S&P500.

Analysts await Harris Corporation (NYSE:HRS) to report earnings on May, 2 before the open. They expect $1.62 earnings per share, up 17.39 % or $0.24 from last year’s $1.38 per share. HRS’s profit will be $192.35 million for 25.34 P/E if the $1.62 EPS becomes a reality. After $1.67 actual earnings per share reported by Harris Corporation for the previous quarter, Wall Street now forecasts -2.99 % negative EPS growth.

Harris Corporation (NYSE:HRS) Ratings Coverage

Among 8 analysts covering Harris (NYSE:HRS), 7 have Buy rating, 0 Sell and 1 Hold. Therefore 88% are positive. Harris had 11 analyst reports since November 1, 2017 according to SRatingsIntel. The firm has “Buy” rating given on Wednesday, November 1 by Credit Suisse. Jefferies maintained the stock with “Buy” rating in Tuesday, January 30 report. The rating was maintained by JP Morgan on Wednesday, November 1 with “Overweight”. As per Wednesday, November 1, the company rating was maintained by Jefferies. The company was maintained on Tuesday, April 10 by Citigroup. The stock of Harris Corporation (NYSE:HRS) has “Buy” rating given on Wednesday, January 31 by Credit Suisse. The rating was maintained by Seaport Global on Wednesday, January 31 with “Buy”. On Monday, January 8 the stock rating was maintained by Jefferies with “Buy”. Cowen & Co maintained Harris Corporation (NYSE:HRS) rating on Monday, January 22. Cowen & Co has “Buy” rating and $157.0 target.

Harris Corporation provides technology solutions that solve government and commercial customersÂ’ mission-critical challenges in the United States and internationally. The company has market cap of $19.50 billion. The firm operates in three divisions: Communication Systems, Electronic Systems, and Space and Intelligence Systems. It has a 39 P/E ratio. It designs, develops, and makes radio communications products and systems, including single channel ground and airborne radio systems, 2-channel vehicular radio systems, multiband manpack and handheld radios, multi-channel manpack and airborne radios, and single-channel airborne radios, as well as wideband rifleman team, ground, and high frequency manpack radios.

Harris Corporation (NYSE:HRS) Institutional Positions Chart

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