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.

Harris Corporation ( HRS) pushed the Telecommunications industry lower today making it today's featured Telecommunications laggard. The industry as a whole closed the day down 0.3%. By the end of trading, Harris Corporation fell $2.01 (-4%) to $48.84 on heavy volume. Throughout the day, 1.6 million shares of Harris Corporation exchanged hands as compared to its average daily volume of 824,500 shares. The stock ranged in price between $48.69-$50.74 after having opened the day at $50.71 as compared to the previous trading day's close of $50.85. Other companies within the Telecommunications industry that declined today were: Nexxus Lighting ( NEXS), down 11.3%, Globalstar Incorporated ( GSAT), down 9.3%, Trunkbow International Holdings ( TBOW), down 7.5%, and magicJack VocalTec ( CALL), down 5.7%.
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Harris Corporation, together with its subsidiaries, operates as an international communications and information technology company that serves government and commercial markets worldwide. Harris Corporation has a market cap of $5.73 billion and is part of the technology sector. The company has a P/E ratio of 10.6, below the average telecommunications industry P/E ratio of 195.6 and below the S&P 500 P/E ratio of 17.7. Shares are up 41.1% year to date as of the close of trading on Thursday. Currently there is one analyst that rates Harris Corporation a buy, no analysts rate it a sell, and 10 rate it a hold.

TheStreet Ratings rates Harris Corporation 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 and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the positive front, Motricity ( MOTR), up 15%, WPCS International ( WPCS), up 11.1%, MER Telemanagement Solutions ( MTSL), up 8.5%, and RRSat Global Communications Network ( RRST), up 6.3%, were all gainers within the telecommunications industry with MetroPCS Communications ( PCS) being today's featured telecommunications industry leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the telecommunications industry could consider iShares Dow Jones US Telecom ( IYZ) while those bearish on the telecommunications industry could consider ProShares Ult Sht Telecommunication ( TLL).

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