HRS
Harris Corp
Industrial/Transportation, Event Driven/Special Sit
07/13/2015
Presented
| Date | 07/09/2015 |
| Price | $78.49 |
| Market Cap | $9.70B |
| Ent Value | $10.86B |
| P/E Ratio | 16x |
| Book Value | $17.66 |
| Div Yield | 2.37% |
| Shares O/S | 123.59M |
| Ave Daily Vol | 1,000,000 |
| Short Int | 0.91% |
Current
| Price | $178.09 |
| Market Cap | $33.68B |
| Harris Corporation, together with its subsidiaries, operates as an international communications and information technology company worldwide. The company operates through RF Communications, Integrated Network Solutions, and Government Communications Systems segments. The RF Communications segment supplies secure tactical radio communications and high-grade encryption solutions for military, government, and commercial customers, as well as secure communications systems and equipment for public safety, utility, and transportation customers. This segment designs, develops, and manufactures a line of secure radio communications products and systems for manpack, handheld, vehicular, airborne, strategic fixed-site, and shipboard installations that span the communications architecture from high capacity line of site, backbone radios, small soldier personal radios, and tablet computers. This segment also offers assured communications systems and equipment, including Internet Protocol based voice and data communications system for public safety, federal, utility, commercial, and transportation organizations; and multiband radios comprising a handheld radio and a full-spectrum mobile radio for vehicles. The Integrated Network Solutions segment provides integrated communications and information technology and services, including various trusted networking capabilities to support government, energy, maritime, and healthcare customers. This segment serves IT services, managed satellite and terrestrial communications solutions, and commercial healthcare solutions markets. The Government Communications Systems segment develops, produces, integrates, and supports advanced communications and information systems that solve the mission-critical challenges of civilian, intelligence, and defense government customers. The company was founded in 1916 and is headquartered in Melbourne, Florida. |
Publicly traded companies mentioned herein: General Dynamics Corp (GD), Harris Corp (HRS), Thales SA (HO FP), Rockwell Collins Inc (COL)
Highlights
The presenter is long shares of Harris (HRS), citing attractive upside from the US Army’s RFPs for Manpack and Rifleman radios. The presenter thinks HRS is well positioned to capture a large portion of the new radio contracts, with additional upside from better than expected performance from the Exelis acquisition. HRS's share price could appreciate to $130 by June 2017 by the presenter’s estimates.
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