Harman International Industries Inc. (HAR) Earns Hold Rating from Barclays PLC
Harman International Industries Inc. (NYSE:HAR)‘s stock had its “hold” rating restated by equities research analysts at Barclays PLC in a research note issued to investors on Tuesday. They presently have a $111.00 price objective on the stock. Barclays PLC’s target price indicates a potential upside of 1.17% from the company’s current price.
Other research analysts also recently issued research reports about the company. Deutsche Bank AG started coverage on Harman International Industries in a report on Wednesday, July 20th. They set a “buy” rating and a $94.00 target price on the stock. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $94.00 target price (down previously from $100.00) on shares of Harman International Industries in a report on Saturday, October 8th. Zacks Investment Research upgraded Harman International Industries from a “sell” rating to a “hold” rating and set a $95.00 target price on the stock in a report on Monday, November 7th. Piper Jaffray Cos. set a $88.00 target price on Harman International Industries and gave the stock a “hold” rating in a report on Saturday, August 6th. Finally, Pacific Crest reiterated a “hold” rating on shares of Harman International Industries in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Harman International Industries presently has a consensus rating of “Hold” and an average price target of $98.81.
Harman International Industries (NYSE:HAR) opened at 109.72 on Tuesday. The company’s 50 day moving average price is $81.97 and its 200-day moving average price is $79.89. Harman International Industries has a 12-month low of $64.93 and a 12-month high of $110.85. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 20.95 and a beta of 1.53.
Harman International Industries (NYSE:HAR) last posted its earnings results on Thursday, November 3rd. The company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.34. Harman International Industries had a return on equity of 19.36% and a net margin of 5.37%. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the business earned $1.48 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts anticipate that Harman International Industries will post $7.09 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Monday, November 14th will be given a $0.35 dividend. The ex-dividend date is Wednesday, November 9th. This represents a $1.40 annualized dividend and a yield of 1.28%. Harman International Industries’s dividend payout ratio (DPR) is presently 26.77%.
In other news, EVP Herbert K. Parker sold 8,744 shares of the stock in a transaction on Monday, October 31st. The stock was sold at an average price of $79.48, for a total transaction of $694,973.12. Following the transaction, the executive vice president now directly owns 21,321 shares of the company’s stock, valued at approximately $1,694,593.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Mauser sold 11,219 shares of the stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $81.34, for a total value of $912,553.46. Following the transaction, the executive vice president now directly owns 26,066 shares in the company, valued at $2,120,208.44. The disclosure for this sale can be found here. 0.94% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in HAR. Kistler Tiffany Companies LLC boosted its position in Harman International Industries by 8.8% in the third quarter. Kistler Tiffany Companies LLC now owns 1,382 shares of the company’s stock valued at $117,000 after buying an additional 112 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in Harman International Industries during the second quarter valued at $115,000. Acadian Asset Management LLC purchased a new position in Harman International Industries during the third quarter valued at $140,000. Tower Research Capital LLC TRC boosted its position in Harman International Industries by 15,627.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,730 shares of the company’s stock valued at $124,000 after buying an additional 1,719 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Harman International Industries by 9.4% in the third quarter. Daiwa Securities Group Inc. now owns 1,750 shares of the company’s stock valued at $148,000 after buying an additional 150 shares during the last quarter. 94.04% of the stock is currently owned by hedge funds and other institutional investors.
Harman International Industries Company Profile
Harman International Industries, Incorporated is engaged in the designing and engineering of connected products and solutions for automakers, consumers and enterprises, including connected car systems, audio and visual products, enterprise automation solutions and connected services. The Company’s segments include Connected Car, Lifestyle Audio, Professional Solutions, Connected Services and Other.
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