Large Outflow of Money Witnessed in Harris Corporation

Harris Corporation (NYSE:HRS) traded on a positive note gaining 0.02 points or 0.03% to be valued at $81.02 per share. Intraday, the shares aggregated $12.17 million in upticks but saw an exodus of $13.68 million in downticks. The net money flow was calculated to be $(-1.51) million with the final up/down ratio coming in at 0.89. The share price has seen a change of 1.29% in value during the week. Block trade of up/down ratio of 0.84 was also registered with $1.08 million in upticks and $1.28 million in downticks. The net money flow for the block exchange was disappointing at $(-0.2) Million.


Currently the company Insiders own 1.37% of Harris Corporation shares according to the proxy statements. Institutional Investors own 88.12% of Harris Corporation shares. On the companys insider trading activities, Mehnert Dana A, officer (SVP, Chief Global Bus Dev Off) of Harris Corp /De/, unloaded 6,600 shares at an average price of $82.07 on June 8, 2016. The total amount of the transaction was worth $541,662, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Harris Corporation (NYSE:HRS) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.39 points or 0.48% at $80.61 with 1,031,134 shares getting traded. Post opening the session at $80.7, the shares hit an intraday low of $80.5219 and an intraday high of $81.62 and the price was in this range throughout the day. The company has a market cap of $10,054 million and the number of outstanding shares have been calculated to be 124,725,874 shares. The 52-week high of Harris Corporation (NYSE:HRS) is $89.78 and the 52-week low is $70.1.

Many analysts have stated their opinion on the company shares. Citigroup initiates coverage on Harris Corporation (NYSE:HRS). In the latest research report, Citigroup announces the target price to $95 per share. According to the latest information available, the shares are now rated Buy by the analysts at the agency. The rating by the firm was issued on June 10, 2016.

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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