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Monday September 12, 2011
Harris: Dividends in defense
by Vita Nelson, editor MoneyPaper Our latest dividend reinvestment special feature is Harris (HRS); founded in 1895, Harris provides communications and information technology. The company makes makes radio communications products for handheld, soldier-worn, vehicular, and shipboard applications. Its government unit provides and integrates communications and information systems and networks for aerospace, terrestrial, and maritime department of defense missions. The broadcast unit provides workflow, infrastructure, and networking solutions to media companies. Consensus estimates call for Harris to earn about $5.11 per share in fiscal 2012 (ends in June) and $5.56 in fiscal 2013, compared with $4.88 in fiscal 2011 and Value Line projects earnings per share of $6.75 in 3-5 years. The annual dividend, which has now been increased for 10 straight years, provides a yield of 2.8% and the stock trades at a price/earnings ratio of under 9. As to the overall market, we note that the investor who can keep his or her head when all about them are losing theirs stands a good chance of being successful, especially in the long term. Paying too much attention to the short-term madness on Wall Street is a sure-fire way to become distracted from one's goals, so the recent frenetic action in the stock market should be used as an occasion to return to fundamental analysis, focusing on earnings and dividends, not stock tickers passing by on a TV screen. No matter how dreadful the traders are making things, remember that great companies shine through over time. Learn more about this financial newsletter at Vita Nelson's The MoneyPaper. 
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