Harris Corporation (HRS) has seen it's share price dip from it's recent high of $51.97 to around $46.80, a 10% drop. I last purchased shares of Harris around this price level and if it dips further it will be high on my list of potential next buy candidates. I posted my stock analysis on Harris back in April of this year and while it's a little out of date, most of the changes for the company have been positive. For example, they've increased their dividend twice in 2012, once by almost 18% and once by 12% for a total increase this year of 32%. While this level of dividend growth can't continue for too long, an annual 10-12% growth is very attainable.
According to my stock analysis, which as I said is a little out of date and hasn't been updated thoroughly since the April posting, the shares are undervalued by approximately 15% at the $46.80 mark. If there is a further pullback in price to the $45's it might be time to pick up some more shares in order to average down my position. At the current price, it's yield is 3.16%.