Harman International Industries Inc. (NYSE:HAR) was downgraded by investment analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a report released on Tuesday.

HAR has been the subject of a number of other reports. Zacks Investment Research lowered Harman International Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, October 5th. Deutsche Bank AG initiated coverage on Harman International Industries in a research note on Wednesday, July 20th. They set a “buy” rating and a $94.00 price objective for the company. Robert W. Baird lowered Harman International Industries from an “outperform” rating to a “neutral” rating and set a $87.00 price objective for the company. in a research note on Friday, August 5th. Barclays PLC lowered Harman International Industries from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $104.00 to $111.00 in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on Harman International Industries from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $97.63.

Analyst Recommendations for Harman International Industries (NYSE:HAR)

Harman International Industries (NYSE:HAR) opened at 109.20 on Tuesday. Harman International Industries has a 12-month low of $64.93 and a 12-month high of $110.85. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 20.85 and a beta of 1.53. The company has a 50-day moving average of $84.18 and a 200 day moving average of $80.44.

Harman International Industries (NYSE:HAR) last issued its earnings results on Thursday, November 3rd. The company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.34. The business earned $1.76 billion during the quarter, compared to analyst estimates of $1.73 billion. Harman International Industries had a return on equity of 19.36% and a net margin of 5.37%. Harman International Industries’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.48 earnings per share. Equities analysts anticipate that Harman International Industries will post $7.09 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Monday, November 14th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $1.40 dividend on an annualized basis and a yield of 1.28%. Harman International Industries’s dividend payout ratio is presently 26.77%.

In other news, insider Ralph Santana sold 1,912 shares of the company’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $110.00, for a total value of $210,320.00. Following the completion of the sale, the insider now directly owns 5,732 shares in the company, valued at approximately $630,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Mauser sold 11,260 shares of the company’s stock in a transaction on Saturday, September 10th. The stock was sold at an average price of $80.93, for a total value of $911,271.80. Following the completion of the sale, the executive vice president now owns 12,801 shares of the company’s stock, valued at $1,035,984.93. The disclosure for this sale can be found here. Company insiders own 0.94% of the company’s stock.

Several large investors have recently bought and sold shares of HAR. GW&K Investment Management LLC raised its stake in Harman International Industries by 7.0% in the second quarter. GW&K Investment Management LLC now owns 218,348 shares of the company’s stock valued at $15,682,000 after buying an additional 14,281 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in Harman International Industries by 1.5% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 61,072 shares of the company’s stock valued at $4,386,000 after buying an additional 904 shares during the period. Exxonmobil Investment Management Inc. TX raised its stake in Harman International Industries by 5.4% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 18,263 shares of the company’s stock valued at $1,312,000 after buying an additional 942 shares during the period. British Columbia Investment Management Corp raised its stake in Harman International Industries by 104.9% in the second quarter. British Columbia Investment Management Corp now owns 29,293 shares of the company’s stock valued at $2,104,000 after buying an additional 14,996 shares during the period. Finally, Patten & Patten Inc. TN bought a new stake in Harman International Industries during the second quarter valued at approximately $303,000. Hedge funds and other institutional investors own 94.04% of the company’s stock.

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.

5 Day Chart for NYSE:HAR

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