Harris Corporation (HRS) is Initiated by Citigroup to Buy, Price Target at $95

Harris Corporation (HRS) was Initiated by Citigroup to “Buy” and the brokerage firm has set the Price Target at $95. Citigroup advised their investors in a research report released on Jun 10, 2016.

On the company’s financial health, Harris Corporation reported $1.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on May 3, 2016. Analyst had a consensus of $1.39. The company had revenue of $1909.00 million for the quarter, compared to analysts expectations of $1920.39 million. The company’s revenue was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.32 EPS.

Harris Corporation closed down -0.65 points or -0.79% at $81.22 with 5,43,436 shares getting traded on Thursday. Post opening the session at $81.49, the shares hit an intraday low of $81.04 and an intraday high of $81.93 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Nov 17, 2015, Scott T Mikuen (Sr VP-General Counsel & Secy) sold 8,800 shares at $80.00 per share price. According to the SEC, on Sep 1, 2015, William M Brown (Chairman, President, and CEO) sold 195 shares at $81.25 per share price. On Jun 16, 2015, Sheldon J Fox (Group Pres. – Govt. Comms. Sys) sold 11,891 shares at $77.80 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

Harris Corporation

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