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Harris

NYSE:HRS
Snowflake Description

Outstanding track record average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HRS
NYSE
$23B
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

Harris Corporation provides technology-based solutions that solve government and commercial customers’ mission-critical challenges in the United States and internationally. The last earnings update was 55 days ago. More info.


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HRS Share Price and Events
7 Day Returns
-3.6%
NYSE:HRS
1.9%
US Aerospace & Defense
-0.4%
US Market
1 Year Returns
33%
NYSE:HRS
6.5%
US Aerospace & Defense
4.3%
US Market
HRS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Harris (HRS) -3.6% 2.2% 19.6% 33% 132.9% 152.8%
US Aerospace & Defense 1.9% 3.8% 10.6% 6.5% 47.4% 66.3%
US Market -0.4% 2.8% 2.7% 4.3% 40.9% 38.2%
1 Year Return vs Industry and Market
  • HRS outperformed the Aerospace & Defense industry which returned 6.5% over the past year.
  • HRS outperformed the Market in United States of America which returned 4.3% over the past year.
Price Volatility
HRS
Industry
5yr Volatility vs Market

Value

 Is Harris undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Harris to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Harris.

NYSE:HRS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:HRS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.88
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.88 (1 + (1- 21%) (15.64%))
0.992
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.99
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.992 * 5.96%)
8.64%

Discounted Cash Flow Calculation for NYSE:HRS using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Harris is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:HRS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.64%)
2019 1,032.20 Analyst x5 950.08
2020 1,151.41 Analyst x7 975.50
2021 1,267.33 Analyst x3 988.29
2022 1,357.00 Analyst x1 974.03
2023 1,420.00 Analyst x1 938.17
2024 1,476.76 Est @ 4% 898.05
2025 1,530.18 Est @ 3.62% 856.50
2026 1,581.45 Est @ 3.35% 814.78
2027 1,631.50 Est @ 3.16% 773.70
2028 1,681.00 Est @ 3.03% 733.76
Present value of next 10 years cash flows $8,902.87
NYSE:HRS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $1,681.00 × (1 + 2.73%) ÷ (8.64% – 2.73%)
$29,205.11
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $29,205.11 ÷ (1 + 8.64%)10
$12,748.00
NYSE:HRS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $8,902.87 + $12,748.00
$21,650.87
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $21,650.87 / 118.13
$183.29
NYSE:HRS Discount to Share Price
Calculation Result
Value per share (USD) From above. $183.29
Current discount Discount to share price of $191.22
= -1 x ($191.22 - $183.29) / $183.29
-4.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Harris is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Harris's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Harris's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:HRS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-29) in USD $7.71
NYSE:HRS Share Price ** NYSE (2019-06-26) in USD $191.22
United States of America Aerospace & Defense Industry PE Ratio Median Figure of 38 Publicly-Listed Aerospace & Defense Companies 23.07x
United States of America Market PE Ratio Median Figure of 3,094 Publicly-Listed Companies 17.77x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Harris.

NYSE:HRS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:HRS Share Price ÷ EPS (both in USD)

= 191.22 ÷ 7.71

24.8x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Harris is overvalued based on earnings compared to the US Aerospace & Defense industry average.
  • Harris is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Harris's expected growth come at a high price?
Raw Data
NYSE:HRS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 24.8x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
9.6%per year
United States of America Aerospace & Defense Industry PEG Ratio Median Figure of 33 Publicly-Listed Aerospace & Defense Companies 1.98x
United States of America Market PEG Ratio Median Figure of 2,133 Publicly-Listed Companies 1.51x

*Line of best fit is calculated by linear regression .

NYSE:HRS PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 24.8x ÷ 9.6%

2.57x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Harris is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Harris's assets?
Raw Data
NYSE:HRS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-29) in USD $30.55
NYSE:HRS Share Price * NYSE (2019-06-26) in USD $191.22
United States of America Aerospace & Defense Industry PB Ratio Median Figure of 55 Publicly-Listed Aerospace & Defense Companies 2.66x
United States of America Market PB Ratio Median Figure of 5,255 Publicly-Listed Companies 1.78x
NYSE:HRS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:HRS Share Price ÷ Book Value per Share (both in USD)

= 191.22 ÷ 30.55

6.26x

* Primary Listing of Harris.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Harris is overvalued based on assets compared to the US Aerospace & Defense industry average.
X
Value checks
We assess Harris's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. Harris has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Harris expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Harris expected to grow at an attractive rate?
  • Harris's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Harris's earnings growth is positive but not above the United States of America market average.
  • Harris's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:HRS Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:HRS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 9.6%
NYSE:HRS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 6.9%
United States of America Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 10.6%
United States of America Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 5.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:HRS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:HRS Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30 8,842 1,636 1,332 2
2022-06-30 8,343 1,537 1,272 2
2021-06-30 7,729 1,429 1,198 6
2020-06-30 7,195 1,294 1,079 12
2019-06-30 6,737 1,210 951 11
NYSE:HRS Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-29 6,611 1,395 910
2018-12-28 6,445 847 864
2018-09-28 6,314 773 769
2018-06-29 6,182 751 719
2018-03-30 6,049 310 657
2017-12-29 5,976 647 623
2017-09-29 5,890 621 656
2017-06-30 5,900 569 636
2017-03-31 5,891 906 613
2016-12-30 5,952 832 608
2016-09-30 5,702 903 608
2016-07-01 5,992 924 609
2016-04-01 5,994 966 412

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Harris's earnings are expected to grow by 9.6% yearly, however this is not considered high growth (20% yearly).
  • Harris's revenue is expected to grow by 6.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:HRS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Harris Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:HRS Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30 12.20 12.20 12.20 1.00
2022-06-30 11.35 11.35 11.35 1.00
2021-06-30 10.16 10.53 9.36 5.00
2020-06-30 9.06 9.35 8.59 9.00
2019-06-30 7.91 8.01 7.80 8.00
NYSE:HRS Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-29 7.71
2018-12-28 7.32
2018-09-28 6.50
2018-06-29 6.06
2018-03-30 5.51
2017-12-29 5.19
2017-09-29 5.40
2017-06-30 5.19
2017-03-31 4.96
2016-12-30 4.91
2016-09-30 4.91
2016-07-01 4.92
2016-04-01 3.42

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Harris is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Harris's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Harris has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Harris performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Harris's growth in the last year to its industry (Aerospace & Defense).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Harris's year on year earnings growth rate has been positive over the past 5 years.
  • Harris's 1-year earnings growth exceeds its 5-year average (38.6% vs 13.6%)
  • Harris's earnings growth has exceeded the US Aerospace & Defense industry average in the past year (38.6% vs 31.1%).
Earnings and Revenue History
Harris's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Harris Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:HRS Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-29 6,611.00 910.00 1,096.00
2018-12-28 6,445.00 864.00 1,089.00
2018-09-28 6,314.00 769.00 1,089.00
2018-06-29 6,182.00 719.00 1,079.00
2018-03-30 6,049.00 657.00 995.00
2017-12-29 5,976.00 623.00 1,003.00
2017-09-29 5,890.00 656.00 997.00
2017-06-30 5,900.00 636.00 1,035.00
2017-03-31 5,891.00 613.00 966.00
2016-12-30 5,952.00 608.00 966.00
2016-09-30 5,702.00 608.00 855.00
2016-07-01 5,992.00 609.00 1,099.00
2016-04-01 5,994.00 412.00 909.00
2016-01-01 5,631.00 379.00 881.00
2015-10-02 5,638.00 355.00 941.00
2015-07-03 3,885.00 286.00 748.00
2015-04-03 4,877.40 524.90 807.30
2015-01-02 4,957.90 536.30 790.50
2014-09-26 4,975.10 533.60 807.20
2014-06-27 5,012.00 536.00 820.00
2014-03-28 5,042.20 469.30 845.60
2013-12-27 4,978.40 457.10 844.90
2013-09-27 5,042.10 459.60 853.30
2013-06-28 5,112.00 463.00 843.00
2013-03-29 5,188.30 522.10 839.00
2012-12-28 5,353.40 553.20 867.50
2012-09-28 5,376.70 551.60 867.30
2012-06-29 5,451.30 551.40 882.90

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Harris has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Harris used its assets more efficiently than the US Aerospace & Defense industry average last year based on Return on Assets.
  • Harris has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Harris's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Harris has a total score of 6/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Harris's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Harris's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Harris is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Harris's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Harris's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Harris Company Filings, last reported 2 months ago.

NYSE:HRS Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-29 3,607.00 3,532.00 334.00
2018-12-28 3,412.00 3,819.00 343.00
2018-09-28 3,244.00 4,009.00 305.00
2018-06-29 3,322.00 3,790.00 288.00
2018-03-30 3,137.00 4,219.00 443.00
2017-12-29 2,994.00 3,919.00 422.00
2017-09-29 2,987.00 3,997.00 388.00
2017-06-30 2,928.00 4,030.00 484.00
2017-03-31 2,914.00 4,213.00 302.00
2016-12-30 3,158.00 4,400.00 361.00
2016-09-30 3,054.00 4,486.00 284.00
2016-07-01 3,057.00 4,517.00 487.00
2016-04-01 3,367.00 4,793.00 321.00
2016-01-01 3,252.00 5,026.00 511.00
2015-10-02 3,463.00 5,081.00 320.00
2015-07-03 3,402.00 5,216.00 481.00
2015-04-03 1,840.40 1,644.10 487.70
2015-01-02 1,811.40 1,651.10 469.50
2014-09-26 1,796.00 1,629.40 449.10
2014-06-27 1,825.00 1,624.00 561.00
2014-03-28 1,795.00 1,658.50 349.60
2013-12-27 1,713.20 1,675.50 334.40
2013-09-27 1,630.10 1,670.60 337.20
2013-06-28 1,561.20 1,735.10 321.00
2013-03-29 1,676.20 1,925.00 459.10
2012-12-28 1,826.10 1,929.90 328.20
2012-09-28 1,853.30 1,978.10 330.90
2012-06-29 1,946.10 2,047.20 356.00
  • Harris's level of debt (97.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (92.3% vs 97.9% today).
  • Debt is well covered by operating cash flow (39.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.6x coverage).
X
Financial health checks
We assess Harris's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Harris has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Harris's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.43%
Current annual income from Harris dividends. Estimated to be 1.61% next year.
If you bought $2,000 of Harris shares you are expected to receive $29 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Harris's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Harris's dividend is below the markets top 25% of dividend payers in United States of America (3.73%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:HRS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
United States of America Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 22 Stocks 1.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2012 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:HRS Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-06-30 4.01 1.00
2022-06-30 3.65 1.00
2021-06-30 3.35 4.00
2020-06-30 3.06 8.00
2019-06-30 2.76 8.00
NYSE:HRS Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-26 2.740 1.471
2019-02-22 2.740 1.681
2018-10-26 2.740 1.882
2018-08-27 2.740 1.661
2018-04-27 2.280 1.487
2018-02-28 2.280 1.424
2017-10-27 2.280 1.569
2017-08-25 2.280 1.752
2017-04-28 2.120 1.882
2017-03-03 2.120 1.915
2016-10-28 2.120 2.050
2016-08-29 2.120 2.326
2016-04-22 2.000 2.414
2016-02-26 2.000 2.553
2015-10-23 2.000 2.461
2015-08-28 2.000 2.681
2015-04-24 1.880 2.360
2015-02-27 1.880 2.448
2014-10-24 1.880 2.636
2014-08-25 1.880 2.787
2014-04-25 1.680 2.285
2014-02-28 1.680 2.306
2013-10-25 1.680 2.497
2013-08-26 1.680 2.870
2013-04-26 1.480 2.889
2013-02-22 1.480 3.290
2012-10-26 1.480 3.078
2012-08-27 1.480 3.030
2012-04-27 1.320 3.150
2012-02-27 1.320 2.992
2011-10-28 1.120 2.958
2011-08-02 1.120 3.025
2011-04-25 1.000 2.181
2011-02-25 1.000 2.081
2010-10-22 1.000 2.148
2010-08-30 1.000 2.273
2010-04-23 0.880 1.922
2010-02-26 0.880 1.853
2009-10-23 0.880 1.945
2009-08-28 0.880 2.378
2009-04-24 0.800 2.628
2009-02-27 0.800 2.642
2008-10-24 0.800 2.151
2008-08-25 0.800 1.861

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Harris's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.1x coverage).
X
Income/ dividend checks
We assess Harris's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Harris afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Harris has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Harris's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bill Brown
COMPENSATION $14,016,113
AGE 55
TENURE AS CEO 7.6 years
CEO Bio

Mr. William M. Brown, also known as Bill, Serves as Chairman of Harris Corporation since April 25, 2014 and has been the Chief Executive Officer and President of Harris Corporation since joining, November 1, 2011. Mr. Brown served as Senior Vice President of Corporate Strategy & Development at United Technologies Corporation since April 2011 to October 2011 and was responsible for its global strategic planning and M&A activity. He served as the President of UTC Fire & Security Corporation at United Technologies Corporation (UTC) from January 17, 2006 to March 2011 and in US and international roles at UTC’s Carrier Corporation from 2000 to 2006 and served as its President of Carrier-Asia Pacific segment since 2004. Mr. Brown joined UTC in its Corporate Strategy and Development group as Director of Strategic Planning in 1997 and served until 2000. He served as the President of Carrier Transicold of United Technologies Corporation since 2001. He served as General Manager of the Replacement Components Division at UTC. He worked for McKinsey and Company as a Senior Engagement Manager in the New York/New Jersey offices and as a Project Engineer for Air Products and Chemicals, Inc. He has been a Director of Harris Corporation since December 2011. He has been an Independent Director at Celanese Corporation since January 1, 2016. Mr. Brown serves on the board of directors of the Fire Department of NYC Foundation and the board of trustees of Florida Institute of Technology, and served on the board of trustees of Florida Polytechnic University from 2013 to 2017. Mr. Brown holds a Bachelor of Science and Master of Science degrees in Mechanical Engineering from Villanova University and a Master of Business Administration degree from the University of Pennsylvania. He has some Specific Qualifications, Attributes, Skills and Experience Related to Substantial transactional, global business, operational and strategic & risk management, Substantial leadership, financial, governmental/geopolitical and innovation experience.

CEO Compensation
  • Bill's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Bill's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Harris management team in years:

4.1
Average Tenure
55.5
Average Age
  • The tenure for the Harris management team is about average.
Management Team

Bill Brown

TITLE
Chairman
COMPENSATION
$14M
AGE
55
TENURE
7.6 yrs

Rahul Ghai

TITLE
Senior VP & CFO
COMPENSATION
$3M
AGE
46
TENURE
3.3 yrs

Sheldon Fox

TITLE
Senior Vice President of Operations & Information Technology
COMPENSATION
$2M
AGE
59
TENURE
1.8 yrs

Scott Mikuen

TITLE
Senior VP
COMPENSATION
$2M
AGE
56
TENURE
8.7 yrs

Dana Mehnert

TITLE
President of Communication Systems
COMPENSATION
$2M
AGE
56
TENURE
3.9 yrs

Todd Taylor

TITLE
VP & Principal Accounting Officer
AGE
45
TENURE
4.1 yrs

Ross Niebergall

TITLE
VP & CTO
TENURE
1.8 yrs

Bob Duffy

TITLE
Senior Vice President of Human Resources & Administration
COMPENSATION
$2M
AGE
51
TENURE
6.9 yrs

Anurag Maheshwari

TITLE
Vice President of Investor Relations

Terry Feiser

TITLE
Vice President of Internal Audit & Compliance
AGE
62
TENURE
12.3 yrs
Board of Directors Tenure

Average tenure and age of the Harris board of directors in years:

10.5
Average Tenure
67.5
Average Age
  • The average tenure for the Harris board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Bill Brown

TITLE
Chairman
COMPENSATION
$14M
AGE
55
TENURE
5.2 yrs

Greg Swienton

TITLE
Independent Director
COMPENSATION
$283K
AGE
68
TENURE
19.3 yrs

Tom Dattilo

TITLE
Independent Director
COMPENSATION
$281K
AGE
67
TENURE
17.8 yrs

Lew Hay

TITLE
Independent Director
COMPENSATION
$282K
AGE
62
TENURE
17.3 yrs

Hansel Tookes

TITLE
Independent Director
COMPENSATION
$282K
AGE
70
TENURE
14.2 yrs

Leslie Kenne

TITLE
Independent Director
COMPENSATION
$252K
AGE
70
TENURE
15.2 yrs

Peter Chiarelli

TITLE
Independent Director
COMPENSATION
$259K
AGE
68
TENURE
6.8 yrs

VJ Joshi

TITLE
Independent Director
COMPENSATION
$252K
AGE
64
TENURE
5.8 yrs

Jim Albaugh

TITLE
Independent Director
COMPENSATION
$251K
AGE
68
TENURE
2.8 yrs

Roger Fradin

TITLE
Independent Director
COMPENSATION
$253K
AGE
65
TENURE
2.7 yrs
Who owns this company?
Recent Insider Trading
  • Harris individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
10. May 19 Sell William Gattle Individual 05. Feb 19 05. Feb 19 -77 $157.40 $-12,079
06. May 19 Sell William Gattle Individual 02. May 19 02. May 19 -3,074 $178.71 $-549,355
14. Sep 18 Sell Christopher Young Individual 12. Sep 18 12. Sep 18 -24,670 $161.55 $-3,985,439
X
Management checks
We assess Harris's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Harris has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Should We Worry About Harris Corporation's (NYSE:HRS) P/E Ratio?

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … Check out our latest analysis for Harris How Do You Calculate Harris's P/E Ratio? … The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Harris: P/E of 24.91 = $192.07 ÷ $7.71 (Based on the trailing twelve months to March 2019.) Is A High Price-to-Earnings Ratio Good?

Simply Wall St -

A Spotlight On Harris Corporation's (NYSE:HRS) Fundamentals

By this I mean, I look at stocks holistically, from their financial health to their future outlook. … NYSE:HRS Historical Dividend Yield, June 2nd 2019 Next Steps: For Harris, there are three fundamental aspects you should look at: Future Outlook: What are well-informed industry analysts predicting for HRS’s future growth? … Financial Health: Are HRS’s operations financially sustainable?

Simply Wall St -

Should You Be Worried About Insider Transactions At Harris Corporation (NYSE:HRS)?

So before you buy or sell Harris Corporation (NYSE:HRS), you may well want to know whether insiders have been buying or selling. … View our latest analysis for Harris Harris Insider Transactions Over The Last Year Over the last year, we can see that the biggest insider sale was by the , Christopher Young, for US$4.0m worth of shares, at about US$162 per share. … Insiders at Harris Have Sold Stock Recently Over the last three months, we've seen significant insider selling at Harris.

Simply Wall St -

What Investors Should Know About Harris Corporation's (NYSE:HRS) Financial Strength

See our latest analysis for Harris HRS’s Debt (And Cash Flows) HRS's debt levels have fallen from US$4.2b to US$3.5b over the last 12 months , which includes long-term debt. … On top of this, HRS has produced cash from operations of US$1.4b during the same period of time, leading to an operating cash to total debt ratio of 39%, meaning that HRS’s current level of operating cash is high enough to cover debt. … Looking at HRS’s US$1.6b in current liabilities, the company has been able to meet these obligations given the level of current assets of US$2.3b, with a current ratio of 1.42x.

Simply Wall St -

Why Harris Corporation (NYSE:HRS) Looks Like A Quality Company

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Harris: 25% = US$910m ÷ US$3.6b (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Careful use of debt to boost returns is often very good for shareholders. … Companies that can achieve high returns on equity without too much debt are generally of good quality.

Simply Wall St -

What Is Harris Corporation's (NYSE:HRS) Share Price Doing?

saw a double-digit share price rise of over 10% in the past couple of months on the NYSE. … With many analysts covering the large-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price … However, could the stock still be trading at a relatively cheap price?

Simply Wall St -

Harris Corporation (NYSE:HRS) Is Employing Capital Very Effectively

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Why Dividend Hunters Love Harris Corporation (NYSE:HRS)

Dividend paying stocks like Harris Corporation (NYSE:HRS) tend to be popular with investors, and for good reason - some research shows that a significant amount of all stock market returns come from reinvested dividends.. … If you are hoping to live on your dividends, it's important to be more stringent with your investments than the average punter. Regular readers know we like to apply the same approach to each dividend stock, and we hope you'll find our analysis useful.. … Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1

Simply Wall St -

Want To Invest In Harris Corporation (NYSE:HRS)? Here's How It Performed Lately

Today I will assess HRS's recent performance announced on 28 December 2018 and weigh these figures against its long-term trend and industry movements. … How Did HRS's Recent Performance Stack Up Against Its Past. … HRS's trailing twelve-month earnings (from 28 December 2018) of US$864m has.

Simply Wall St -

If You Had Bought Harris (NYSE:HRS) Stock Five Years Ago, You Could Pocket A 121% Gain Today

One great example is Harris Corporation (NYSE:HRS) which saw its share price drive 121% higher over five years. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During five years of share price growth, Harris achieved compound earnings per share (EPS) growth of 11% per year.

Simply Wall St -

Company Info

Description

Harris Corporation provides technology-based solutions that solve government and commercial customers’ mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems. It designs, develops, and manufactures radio communications products and systems, including single channel ground and airborne radio systems, multiband manpack and handheld radios, multi-channel manpack and airborne radios, and single-channel airborne radios, as well as wideband rifleman team, ground, and high frequency manpack radios. The company also offers vision-enhancing products; wireless communications systems; and Internet protocol based voice and data communications systems, as well as single-band land mobile radio terminals and multiband radios comprising a handheld radio and a full-spectrum mobile radio for vehicles. In addition, it provides electronic warfare, avionics, command, control, communications, computers, intelligence, surveillance, and reconnaissance solutions for defense and classified customers; and mission-critical communication systems for civil and military aviation and other customers. Further, the company offers intelligence, space protection, geospatial, earth observation, exploration, positioning, navigation and timing, and environmental solutions using advanced sensors, antennas, and payloads, as well as ground processing and information analytics for national security, defense, civil and commercial customers. Harris Corporation was founded in 1895 and is headquartered in Melbourne, Florida.

Details
Name: Harris Corporation
HRS
Exchange: NYSE
Founded: 1895
$22,587,976,658
118,125,597
Website: http://www.harris.com
Address: Harris Corporation
1025 West NASA Boulevard,
Melbourne,
Florida, 32919,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE HRS Common Stock New York Stock Exchange US USD 02. Jan 1968
DB HRS Common Stock Deutsche Boerse AG DE EUR 02. Jan 1968
LSE 0J3A Common Stock London Stock Exchange GB USD 02. Jan 1968
Number of employees
Current staff
Staff numbers
17,500
Harris employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/26 23:40
End of day share price update: 2019/06/26 00:00
Last estimates confirmation: 2019/06/16
Last earnings filing: 2019/05/02
Last earnings reported: 2019/03/29
Last annual earnings reported: 2018/06/29


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.