Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified

Harris Corporation

(

HRS

) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Harris Corporation as such a stock due to the following factors:

  • HRS has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $51.6 million.
  • HRS has traded 15,361 shares today.
  • HRS is trading at a new lifetime high.

EXCLUSIVE OFFER: Get the inside scoop on opportunities in HRS with the Ticky from Trade-Ideas. See the FREE profile for HRS NOW at Trade-Ideas

More details on HRS:

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 stock currently has a dividend yield of 2.3%. HRS has a PE ratio of 16. Currently there are 3 analysts that rate Harris Corporation a buy, no analysts rate it a sell, and 2 rate it a hold.

The average volume for Harris Corporation has been 946,100 shares per day over the past 30 days. Harris has a market cap of $8.4 billion and is part of the technology sector and telecommunications industry. The stock has a beta of 1.57 and a short float of 0.9% with 1.56 days to cover. Shares are up 13.9% year-to-date as of the close of trading on Wednesday.

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.

TheStreetRatings.com

Analysis:

TheStreet Quant Ratings

rates Harris Corporation as a

buy

. The company's strengths can be seen in multiple areas, such as its notable return on equity, expanding profit margins, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company shows weak operating cash flow.

Highlights from the ratings report include:

  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Communications Equipment industry and the overall market, HARRIS CORP's return on equity significantly exceeds that of both the industry average and the S&P 500.
  • 39.52% is the gross profit margin for HARRIS CORP which we consider to be strong. It has increased from the same quarter the previous year. Regardless of the strong results of the gross profit margin, the net profit margin of 10.59% trails the industry average.
  • Looking at where the stock is today compared to one year ago, we find that it is not only higher, but it has also clearly outperformed the rise in the S&P 500 over the same period, despite the company's weak earnings results. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
  • HARRIS CORP's earnings per share declined by 5.5% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, HARRIS CORP increased its bottom line by earning $5.00 versus $4.16 in the prior year. This year, the market expects an improvement in earnings ($5.03 versus $5.00).
  • Regardless of the drop in revenue, the company managed to outperform against the industry average of 11.2%. Since the same quarter one year prior, revenues slightly dropped by 6.4%. The declining revenue appears to have seeped down to the company's bottom line, decreasing earnings per share.

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.