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 0.5%. By the end of trading, Harris Corporation fell 51 cents (-1.1%) to $48.14 on light volume. Throughout the day, 535,682 shares of Harris Corporation exchanged hands as compared to its average daily volume of 942,500 shares. The stock ranged in price between $47.79-$49.04 after having opened the day at $48.46 as compared to the previous trading day's close of $48.65. Other companies within the Telecommunications industry that declined today were: Inteliquent ( IQNT), down 15.7%, Ambient Corporation ( AMBT), down 12.6%, B Communications ( BCOM), down 11.5%, and WPCS International ( WPCS), down 11.1%.
  • EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.

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 $5.45 billion and is part of the technology sector. The company has a P/E ratio of 9.9, below the S&P 500 P/E ratio of 17.7. Shares are up 35% year to date as of the close of trading on Friday. Currently there is one analyst that rates Harris Corporation a buy, one analyst rates it a sell, and nine 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, notable return on equity, good cash flow from operations, growth in earnings per share and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the positive front, Phazar Corporation ( ANTP), up 7%, Cellcom Israel ( CEL), up 5.2%, Gilat Satellite Networks ( GILT), up 5%, and Novatel Wireless ( NVTL), up 4.4%, were all gainers within the telecommunications industry with Mobile Telesystems OJSC ( MBT) 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).

FREE for a limited time only: Get TheStreet Ratings #1 Stock Report NOW!.