Harman International Industries’ (HAR) “Outperform” Rating Reiterated at Raymond James Financial Inc.
Raymond James Financial Inc. reissued their outperform rating on shares of Harman International Industries Inc. (NYSE:HAR) in a research note published on Tuesday. The brokerage currently has a $112.00 target price on the stock, up from their previous target price of $100.00.
Several other research analysts also recently issued reports on HAR. Piper Jaffray Cos. set a $88.00 price target on Harman International Industries and gave the stock a hold rating in a research note on Saturday, August 6th. FBR & Co lifted their price target on Harman International Industries from $85.00 to $90.00 and gave the stock a mkt perform rating in a research note on Friday, August 5th. Zacks Investment Research raised Harman International Industries from a sell rating to a hold rating and set a $95.00 price target for the company in a research note on Monday, November 7th. Barclays PLC lifted their price target on Harman International Industries from $103.00 to $104.00 and gave the stock an overweight rating in a research note on Friday, August 5th. Finally, Goldman Sachs Group Inc. downgraded Harman International Industries from a buy rating to a neutral rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $97.63.
Shares of Harman International Industries (NYSE:HAR) opened at 109.30 on Tuesday. Harman International Industries has a one year low of $64.93 and a one year high of $110.85. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of 20.87 and a beta of 1.53. The company has a 50 day moving average of $84.88 and a 200-day moving average of $80.65.
Harman International Industries (NYSE:HAR) last issued its earnings results on Thursday, November 3rd. The company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.53 by $0.34. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.73 billion. Harman International Industries had a net margin of 5.37% and a return on equity of 19.36%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.48 EPS. On average, analysts anticipate that Harman International Industries will post $7.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Monday, November 14th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Wednesday, November 9th. Harman International Industries’s payout ratio is currently 26.77%.
In other Harman International Industries news, insider Ralph Santana sold 1,912 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 5,732 shares in the company, valued at approximately $630,520. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Mauser sold 11,260 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 12,801 shares of the company’s stock, valued at approximately $1,035,984.93. The disclosure for this sale can be found here. Insiders own 0.94% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. bought a new position in Harman International Industries during the second quarter worth $115,000. 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 period. 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 period. Westport Resources Management Inc. boosted its position 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 valued at $135,000 after buying an additional 975 shares during the period. Finally, Creative Planning boosted its position in Harman International Industries by 86.9% in the second quarter. Creative Planning now owns 1,949 shares of the company’s stock valued at $140,000 after buying an additional 906 shares during the period. 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.
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