Harris Reaches New 52-Week High (HRS)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

NEW YORK ( TheStreet) -- Harris Corporation (NYSE: HRS) hit a new 52-week high Monday as it is currently trading at $46.70, above its previous 52-week high of $46.68 with 88,884 shares traded as of 9:55 a.m. ET. Average volume has been 788,900 shares over the past 30 days.

Harris has a market cap of $5.14 billion and is part of the technology sector and telecommunications industry. Shares are up 29.1% year to date as of the close of trading on Friday.

Harris Corporation, together with its subsidiaries, operates as a communications and information technology company that serves government and commercial markets worldwide. It operates in three segments: RF Communications, Integrated Network Solutions, and Government Communications Systems. The company has a P/E ratio of nine, below the average telecommunications industry P/E ratio of 173.6 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Harris as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, notable return on equity, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Harris Ratings Report.

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