Seaport Global Securities Weighs in on Harris Corporation’s Q1 2018 Earnings (HRS)

Harris Corporation (NYSE:HRS) – Seaport Global Securities upped their Q1 2018 EPS estimates for Harris Corporation in a report released on Monday. Seaport Global Securities analyst J. Sullivan now forecasts that the communications equipment provider will earn $1.35 per share for the quarter, up from their prior forecast of $1.27. Seaport Global Securities currently has a “Buy” rating and a $145.00 target price on the stock. Seaport Global Securities also issued estimates for Harris Corporation’s Q3 2018 earnings at $1.65 EPS, Q4 2018 earnings at $1.63 EPS, Q1 2019 earnings at $1.50 EPS, Q2 2019 earnings at $1.65 EPS, Q3 2019 earnings at $1.97 EPS, Q4 2019 earnings at $2.07 EPS and FY2019 earnings at $7.19 EPS.

Several other research firms have also recently commented on HRS. Cowen and Company restated a “buy” rating and issued a $125.00 price target on shares of Harris Corporation in a report on Thursday, July 6th. BidaskClub upgraded Harris Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded Harris Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Harris Corporation in a research note on Friday, July 7th. Finally, Credit Suisse Group assumed coverage on Harris Corporation in a research note on Monday, August 28th. They issued an “outperform” rating and a $144.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Harris Corporation has a consensus rating of “Buy” and a consensus target price of $128.00.

ILLEGAL ACTIVITY WARNING: “Seaport Global Securities Weighs in on Harris Corporation’s Q1 2018 Earnings (HRS)” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The correct version of this article can be read at https://ledgergazette.com/2017/10/11/seaport-global-securities-weighs-in-on-harris-corporations-q1-2018-earnings-hrs.html.

Harris Corporation (NYSE:HRS) traded up 0.224% on Tuesday, reaching $136.375. 51,857 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $127.25 and a 200-day moving average price of $115.89. Harris Corporation has a 1-year low of $88.89 and a 1-year high of $136.63. The company has a market capitalization of $16.33 billion, a PE ratio of 30.743 and a beta of 1.18.

Harris Corporation (NYSE:HRS) last posted its earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.49. Harris Corporation had a net margin of 8.53% and a return on equity of 23.49%. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the company posted $1.45 earnings per share. Harris Corporation’s revenue for the quarter was up .6% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were paid a $0.57 dividend. This is a positive change from Harris Corporation’s previous quarterly dividend of $0.53. This represents a $2.28 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Thursday, September 7th. Harris Corporation’s payout ratio is currently 51.47%.

In other news, insider Christopher D. Young sold 4,070 shares of Harris Corporation stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $118.93, for a total value of $484,045.10. Following the transaction, the insider now directly owns 46,131 shares of the company’s stock, valued at approximately $5,486,359.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sheldon J. Fox sold 50,300 shares of Harris Corporation stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $118.24, for a total value of $5,947,472.00. Following the completion of the transaction, the senior vice president now directly owns 73,092 shares in the company, valued at $8,642,398.08. The disclosure for this sale can be found here. Insiders sold a total of 72,357 shares of company stock worth $8,643,111 over the last ninety days. Corporate insiders own 1.91% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harwood Advisory Group LLC lifted its position in Harris Corporation by 0.4% during the 2nd quarter. Harwood Advisory Group LLC now owns 2,119 shares of the communications equipment provider’s stock worth $231,000 after acquiring an additional 9 shares in the last quarter. EP Wealth Advisors LLC lifted its position in Harris Corporation by 1.0% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,875 shares of the communications equipment provider’s stock worth $205,000 after acquiring an additional 19 shares in the last quarter. Cleararc Capital Inc. lifted its position in Harris Corporation by 0.8% during the 1st quarter. Cleararc Capital Inc. now owns 3,047 shares of the communications equipment provider’s stock worth $339,000 after acquiring an additional 23 shares in the last quarter. Blue Chip Partners Inc. lifted its position in Harris Corporation by 1.0% during the 2nd quarter. Blue Chip Partners Inc. now owns 2,729 shares of the communications equipment provider’s stock worth $298,000 after acquiring an additional 26 shares in the last quarter. Finally, Thrivent Financial For Lutherans lifted its position in Harris Corporation by 0.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,685 shares of the communications equipment provider’s stock

Harris Corporation (NYSE:HRS) – Seaport Global Securities upped their Q1 2018 EPS estimates for Harris Corporation in a report released on Monday. Seaport Global Securities analyst J. Sullivan now forecasts that the communications equipment provider will earn $1.35 per share for the quarter, up from their prior forecast of $1.27. Seaport Global Securities currently has a “Buy” rating and a $145.00 target price on the stock. Seaport Global Securities also issued estimates for Harris Corporation’s Q3 2018 earnings at $1.65 EPS, Q4 2018 earnings at $1.63 EPS, Q1 2019 earnings at $1.50 EPS, Q2 2019 earnings at $1.65 EPS, Q3 2019 earnings at $1.97 EPS, Q4 2019 earnings at $2.07 EPS and FY2019 earnings at $7.19 EPS.

Several other research firms have also recently commented on HRS. Cowen and Company restated a “buy” rating and issued a $125.00 price target on shares of Harris Corporation in a report on Thursday, July 6th. BidaskClub upgraded Harris Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded Harris Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Harris Corporation in a research note on Friday, July 7th. Finally, Credit Suisse Group assumed coverage on Harris Corporation in a research note on Monday, August 28th. They issued an “outperform” rating and a $144.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Harris Corporation has a consensus rating of “Buy” and a consensus target price of $128.00.

ILLEGAL ACTIVITY WARNING: “Seaport Global Securities Weighs in on Harris Corporation’s Q1 2018 Earnings (HRS)” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The correct version of this article can be read at https://ledgergazette.com/2017/10/11/seaport-global-securities-weighs-in-on-harris-corporations-q1-2018-earnings-hrs.html.

Harris Corporation (NYSE:HRS) traded up 0.224% on Tuesday, reaching $136.375. 51,857 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $127.25 and a 200-day moving average price of $115.89. Harris Corporation has a 1-year low of $88.89 and a 1-year high of $136.63. The company has a market capitalization of $16.33 billion, a PE ratio of 30.743 and a beta of 1.18.

Harris Corporation (NYSE:HRS) last posted its earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.49. Harris Corporation had a net margin of 8.53% and a return on equity of 23.49%. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the company posted $1.45 earnings per share. Harris Corporation’s revenue for the quarter was up .6% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were paid a $0.57 dividend. This is a positive change from Harris Corporation’s previous quarterly dividend of $0.53. This represents a $2.28 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Thursday, September 7th. Harris Corporation’s payout ratio is currently 51.47%.

In other news, insider Christopher D. Young sold 4,070 shares of Harris Corporation stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $118.93, for a total value of $484,045.10. Following the transaction, the insider now directly owns 46,131 shares of the company’s stock, valued at approximately $5,486,359.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sheldon J. Fox sold 50,300 shares of Harris Corporation stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $118.24, for a total value of $5,947,472.00. Following the completion of the transaction, the senior vice president now directly owns 73,092 shares in the company, valued at $8,642,398.08. The disclosure for this sale can be found here. Insiders sold a total of 72,357 shares of company stock worth $8,643,111 over the last ninety days. Corporate insiders own 1.91% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harwood Advisory Group LLC lifted its position in Harris Corporation by 0.4% during the 2nd quarter. Harwood Advisory Group LLC now owns 2,119 shares of the communications equipment provider’s stock worth $231,000 after acquiring an additional 9 shares in the last quarter. EP Wealth Advisors LLC lifted its position in Harris Corporation by 1.0% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,875 shares of the communications equipment provider’s stock worth $205,000 after acquiring an additional 19 shares in the last quarter. Cleararc Capital Inc. lifted its position in Harris Corporation by 0.8% during the 1st quarter. Cleararc Capital Inc. now owns 3,047 shares of the communications equipment provider’s stock worth $339,000 after acquiring an additional 23 shares in the last quarter. Blue Chip Partners Inc. lifted its position in Harris Corporation by 1.0% during the 2nd quarter. Blue Chip Partners Inc. now owns 2,729 shares of the communications equipment provider’s stock worth $298,000 after acquiring an additional 26 shares in the last quarter. Finally, Thrivent Financial For Lutherans lifted its position in Harris Corporation by 0.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,685 shares of the communications equipment provider’s stock worth $511,000 after acquiring an additional 30 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors and hedge funds.

About Harris Corporation

Earnings History and Estimates for Harris Corporation (NYSE:HRS)

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