Harris Corporation (HRS) : Traders are bullish on Harris Corporation (HRS) as it has outperformed the S&P 500 by a wide margin of 4.66% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.27%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.24% in the last 1 week, and is up 5.06% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Harris Corporation is up 16.22% in the last 3-month period. Year-to-Date the stock performance stands at 5.98%. The stock has recorded a 20-day Moving Average of 2.99% and the 50-Day Moving Average is 6.85%.
Harris Corporation (NYSE:HRS): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $90.35 and $90.18 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $91.12. The buying momentum continued till the end and the stock did not give up its gains. It closed at $90.94, notching a gain of 0.33% for the day. The total traded volume was 368,131 . The stock had closed at $90.64 on the previous day.
Also, Citigroup initiates coverage on Harris Corporation (NYSE:HRS) The current rating of the shares is Buy. Equity Analysts at the Firm announces the price target to $95 per share. 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.