Large Inflow of Money Detected in Harris Corporation

Harris Corporation (HRS) : On Tuesday, The money flowed into the Harris Corporation (HRS) stock with an uptick to downtick ratio was recorded at 1.46. Transactions worth $10.72 million were done on upticks, confirming the buying interest in the stock. The outflow of money on downticks stood at $7.35 million. The total money flow into the stock was $3.36 million. The investors are using every small weakness in the stock to accumulate it, as can be seen in the $1.71 million of block transactions on upticks. The total money flow in block trades was $1.71 million. In terms of price action, Harris Corporation (HRS) traded down $0.08 during the session at $92.54. Compared to the previous days closing, the stock was down only by -0.09%. For the week, the stock is 1.87%, over previous weeks closing.


Also, Citigroup initiates coverage on Harris Corporation (NYSE:HRS). Citigroup has a Buy rating on the shares. As per the latest report, the brokerage house announces the price target to $95 per share. The rating by the firm was issued on June 10, 2016.

Shares of Harris Corporation rose by 1.52% in the last five trading days and 8.27% for the last 4 weeks. Harris Corporation is up 16.55% in the last 3-month period. Year-to-Date the stock performance stands at 8.06%.

Harris Corporation (NYSE:HRS): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $92.91 and $92.03 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $92.91. The buying momentum continued till the end and the stock did not give up its gains. It closed at $92.73, notching a gain of 0.12% for the day. The total traded volume was 660,593 . The stock had closed at $92.62 on the previous day.

In a related news, The Securities and Exchange Commission has divulged that Fox Sheldon J, officer (SVP, Integration & Engineering) of Harris Corp /De/, had unloaded 17,700 shares at an average price of $89.02 in a transaction dated on August 8, 2016. The total value of the transaction was worth $1,575,654.

Harris Corporation (Harris) together with its subsidiaries is engaged in providing technology-based solutions to government and commercial customers. As of July 3, 2015, the Company operated through four business segments: RF Communications, Government Communications Systems, Integrated Network Solutions and Exelis. The RF Communications segment is engaged in serving the United States Department of Defense (DoD) and International Tactical Communications, and public safety and professional communications markets. The Government Communications Systems segment is engaged in serving civil, national intelligence and defense markets. The Integrated Network Solutions segment is engaged in serving information technology (IT) services, and managed satellite and terrestrial communications solutions markets. The Exelis segment provides positioning and navigation, sensors, air traffic management solutions, image processing and distribution, communications and information systems.

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