Ralph Santana Sells 1,912 Shares of Harman International Industries Inc. (HAR) Stock
Harman International Industries Inc. (NYSE:HAR) insider Ralph Santana sold 1,912 shares of Harman International Industries stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $110.00, for a total transaction of $210,320.00. Following the sale, the insider now owns 5,732 shares of the company’s stock, valued at approximately $630,520. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Harman International Industries Inc. (NYSE:HAR) opened at 109.20 on Thursday. The stock has a 50 day moving average of $84.18 and a 200-day moving average of $80.44. Harman International Industries Inc. has a 12 month low of $64.93 and a 12 month high of $110.85. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 20.85 and a beta of 1.53.
Harman International Industries (NYSE:HAR) last released its earnings results on Thursday, November 3rd. The company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.34. The business earned $1.76 billion during the quarter, compared to the consensus estimate of $1.73 billion. Harman International Industries had a net margin of 5.37% and a return on equity of 19.36%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.48 EPS. On average, analysts forecast that Harman International Industries Inc. will post $7.09 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Monday, November 14th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Wednesday, November 9th. Harman International Industries’s dividend payout ratio is presently 26.77%.
HAR has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Harman International Industries from a “sell” rating to a “hold” rating and set a $95.00 price objective for the company in a report on Monday, November 7th. Northcoast Research cut shares of Harman International Industries from a “buy” rating to a “neutral” rating in a report on Tuesday. Wells Fargo & Co. restated an “outperform” rating and set a $95.00 price objective (up previously from $88.00) on shares of Harman International Industries in a report on Wednesday, August 10th. Goldman Sachs Group Inc. restated a “buy” rating and set a $94.00 price objective (down previously from $100.00) on shares of Harman International Industries in a report on Saturday, October 8th. Finally, Deutsche Bank AG cut shares of Harman International Industries from a “buy” rating to a “hold” rating and boosted their price objective for the company from $103.00 to $112.00 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. Harman International Industries currently has a consensus rating of “Hold” and an average target price of $97.63.
A number of hedge funds have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. purchased a new stake in Harman International Industries during the second quarter worth $115,000. Kistler Tiffany Companies LLC increased its stake 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 worth $117,000 after buying an additional 112 shares in the last quarter. Tower Research Capital LLC TRC increased its stake 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 worth $124,000 after buying an additional 1,719 shares in the last quarter. Westport Resources Management Inc. increased its stake in Harman International Industries by 108.3% in the second quarter. Westport Resources Management Inc. now owns 1,875 shares of the company’s stock worth $135,000 after buying an additional 975 shares in the last quarter. Finally, Creative Planning increased its stake in Harman International Industries by 86.9% in the second quarter. Creative Planning now owns 1,949 shares of the company’s stock worth $140,000 after buying an additional 906 shares in the last quarter. 94.04% of the stock is owned by institutional investors and hedge funds.
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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