Harris (HRS) Should Break Up for Strong Shareholder Return - Cramer

Harris Corp (NYSE: HRS) is positive on Wednesday amid garnering support from stock sage Jim Cramer.

Cramer thinks the largest return from Harris could be made via breaking the company up into pieces. Along with military and commercial communication equipment, the company also makes products for aircraft and hospitals. Harries even maintains its own satellite network to improve communications to remote areas of the globe.

Cramer thinks that Harris' military division is a slow grower with a robust dividend yield of 3 percent. Harris' commercial unit is a faster grower with a higher multiple.

Harris breaking up with look something like what happened with Motorola in 2011, which provided a 52 percent return for investors. Cramer said a similar move by Harris could amount to a 47 percent gain from where shares are today.

The stock is up 0.5 percent.

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