Harris Corporation (HRS) Expected to Post Quarterly Sales of $1.42 Billion

Analysts expect that Harris Corporation (NYSE:HRS) will post sales of $1.42 billion for the current quarter, Zacks reports. Four analysts have made estimates for Harris Corporation’s earnings, with the highest sales estimate coming in at $1.44 billion and the lowest estimate coming in at $1.41 billion. Harris Corporation posted sales of $1.75 billion during the same quarter last year, which suggests a negative year over year growth rate of 18.9%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Tuesday, October 31st.

On average, analysts expect that Harris Corporation will report full-year sales of $1.42 billion for the current financial year, with estimates ranging from $6.07 billion to $6.10 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $6.49 billion per share, with estimates ranging from $6.40 billion to $6.61 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Harris Corporation.

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

Several equities analysts recently weighed in on HRS shares. ValuEngine raised Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research raised Harris Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Credit Suisse Group started coverage on Harris Corporation in a research note on Monday, August 28th. They issued an “outperform” rating and a $144.00 price objective for the company. BidaskClub raised Harris Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $135.00 price objective (up from $125.00) on shares of Harris Corporation in a research note on Friday, July 14th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Harris Corporation presently has a consensus rating of “Buy” and an average target price of $131.57.

In other Harris Corporation news, SVP Sheldon J. Fox sold 50,300 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $118.24, for a total transaction of $5,947,472.00. Following the completion of the transaction, the senior vice president now owns 73,092 shares of the company’s stock, valued at $8,642,398.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher D. Young sold 4,070 shares of the firm’s stock in a transaction on 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 disclosure for this sale can be found here. Insiders sold a total of 72,357 shares of company stock valued at $8,643,111 over the last ninety days. 1.91% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Trust Co. of Vermont increased its position in Harris Corporation by 20.6% during the second quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock worth $100,000 after buying an additional 157 shares in the last quarter. BB&T Investment Services Inc. purchased a new position in Harris Corporation during the second quarter worth $113,000. Northwestern Mutual Wealth Management Co. increased its position in Harris Corporation by 110.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,205 shares of the communications equipment provider’s stock worth $131,000 after buying an additional 632 shares in the last quarter. BT Investment Management Ltd purchased a new position in Harris Corporation during the second quarter worth $157,000. Finally, Stephens Inc. AR purchased a new position in Harris Corporation during the second quarter worth $167,000. 84.98% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY WARNING: “Harris Corporation (HRS) Expected to Post Quarterly Sales of $1.42 Billion” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this story can be accessed at https://ledgergazette.com/2017/10/19/harris-corporation-hrs-expected-to-post-quarterly-sales-of-1-42-billion.html.

Harris Corporation (HRS) traded up 0.47% during mid-day trading on Thursday, hitting $135.48. The stock had a trading volume of 306,034 shares. Harris Corporation has a 12-month low of $88.89 and a 12-month high of $137.16. The firm has a market cap of $16.23 billion, a P/E ratio of 30.54 and a beta of 1.18. The stock has a 50-day moving average price of $129.98 and a 200 day moving average price of $116.93.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were paid a $0.57 dividend. This is an increase from Harris Corporation’s previous quarterly dividend of $0.53. This represents a $2.28 annualized dividend and a yield of 1.69%. The ex-dividend date was Thursday, September 7th. Harris Corporation’s dividend payout ratio (DPR) is presently 51.47%.

About Harris Corporation

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On average, analysts expect that Harris Corporation will report full-year sales of $1.42 billion for the current financial year, with estimates ranging from $6.07 billion to $6.10 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $6.49 billion per share, with estimates ranging from $6.40 billion to $6.61 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Harris Corporation.

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

Several equities analysts recently weighed in on HRS shares. ValuEngine raised Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research raised Harris Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Credit Suisse Group started coverage on Harris Corporation in a research note on Monday, August 28th. They issued an “outperform” rating and a $144.00 price objective for the company. BidaskClub raised Harris Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $135.00 price objective (up from $125.00) on shares of Harris Corporation in a research note on Friday, July 14th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Harris Corporation presently has a consensus rating of “Buy” and an average target price of $131.57.

In other Harris Corporation news, SVP Sheldon J. Fox sold 50,300 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $118.24, for a total transaction of $5,947,472.00. Following the completion of the transaction, the senior vice president now owns 73,092 shares of the company’s stock, valued at $8,642,398.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher D. Young sold 4,070 shares of the firm’s stock in a transaction on 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 disclosure for this sale can be found here. Insiders sold a total of 72,357 shares of company stock valued at $8,643,111 over the last ninety days. 1.91% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Trust Co. of Vermont increased its position in Harris Corporation by 20.6% during the second quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock worth $100,000 after buying an additional 157 shares in the last quarter. BB&T Investment Services Inc. purchased a new position in Harris Corporation during the second quarter worth $113,000. Northwestern Mutual Wealth Management Co. increased its position in Harris Corporation by 110.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,205 shares of the communications equipment provider’s stock worth $131,000 after buying an additional 632 shares in the last quarter. BT Investment Management Ltd purchased a new position in Harris Corporation during the second quarter worth $157,000. Finally, Stephens Inc. AR purchased a new position in Harris Corporation during the second quarter worth $167,000. 84.98% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY WARNING: “Harris Corporation (HRS) Expected to Post Quarterly Sales of $1.42 Billion” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this story can be accessed at https://ledgergazette.com/2017/10/19/harris-corporation-hrs-expected-to-post-quarterly-sales-of-1-42-billion.html.

Harris Corporation (HRS) traded up 0.47% during mid-day trading on Thursday, hitting $135.48. The stock had a trading volume of 306,034 shares. Harris Corporation has a 12-month low of $88.89 and a 12-month high of $137.16. The firm has a market cap of $16.23 billion, a P/E ratio of 30.54 and a beta of 1.18. The stock has a 50-day moving average price of $129.98 and a 200 day moving average price of $116.93.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were paid a $0.57 dividend. This is an increase from Harris Corporation’s previous quarterly dividend of $0.53. This represents a $2.28 annualized dividend and a yield of 1.69%. The ex-dividend date was Thursday, September 7th. Harris Corporation’s dividend payout ratio (DPR) is presently 51.47%.

About Harris Corporation

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

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