LGT Capital Partners LTD. bought a new stake in shares of Harman International Industries Inc. (NYSE:HAR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 123,470 shares of the company’s stock, valued at approximately $10,427,000. LGT Capital Partners LTD. owned approximately 0.18% of Harman International Industries as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. AMP Capital Investors Ltd raised its position in Harman International Industries by 2.4% in the first quarter. AMP Capital Investors Ltd now owns 95,263 shares of the company’s stock valued at $8,290,000 after buying an additional 2,197 shares during the period. Legal & General Group Plc raised its position in Harman International Industries by 3.3% in the first quarter. Legal & General Group Plc now owns 285,635 shares of the company’s stock valued at $25,431,000 after buying an additional 9,105 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Harman International Industries by 86.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 7,200 shares of the company’s stock valued at $641,000 after buying an additional 3,340 shares during the period. Natixis raised its position in Harman International Industries by 168.5% in the first quarter. Natixis now owns 11,190 shares of the company’s stock valued at $996,000 after buying an additional 7,022 shares during the period. Finally, Logan Capital Management Inc. raised its position in Harman International Industries by 1.9% in the first quarter. Logan Capital Management Inc. now owns 71,780 shares of the company’s stock valued at $6,391,000 after buying an additional 1,316 shares during the period. Institutional investors own 94.04% of the company’s stock.

Institutional Ownership by Quarter for Harman International Industries (NYSE:HAR)

Harman International Industries Inc. (NYSE:HAR) traded up 0.05% during midday trading on Friday, reaching $109.35. The company’s stock had a trading volume of 2,573,606 shares. The firm has a 50 day moving average price of $84.88 and a 200-day moving average price of $80.65. Harman International Industries Inc. has a 52 week low of $64.93 and a 52 week high of $110.85. The firm has a market cap of $7.63 billion, a P/E ratio of 21.91 and a beta of 1.53.

Harman International Industries (NYSE:HAR) last issued its earnings results on Thursday, November 3rd. The company reported $1.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.34. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Harman International Industries had a net margin of 5.37% and a return on equity of 19.36%. Harman International Industries’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 EPS. On average, analysts forecast that Harman International Industries Inc. will post $7.09 earnings per share for the current fiscal 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 $0.35 dividend. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.28%. Harman International Industries’s payout ratio is 26.77%.

Several equities analysts have weighed in on HAR shares. Robert W. Baird lowered Harman International Industries from an “outperform” rating to a “neutral” rating and set a $87.00 target price on the stock. in a report on Friday, August 5th. FBR & Co raised their target price on Harman International Industries from $85.00 to $90.00 and gave the company a “mkt perform” rating in a report on Friday, August 5th. Barclays PLC raised their target price on Harman International Industries from $103.00 to $104.00 and gave the company an “overweight” rating in a report on Friday, August 5th. Deutsche Bank AG raised their price target on Harman International Industries from $94.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Finally, JPMorgan Chase & Co. raised their price target on Harman International Industries from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. 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 stock. The stock has a consensus rating of “Hold” and an average target price of $97.63.

In other news, insider Ralph Santana sold 1,912 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $110.00, for a total value of $210,320.00. Following the sale, the insider now directly 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 can be accessed through the SEC website. Also, EVP Michael Mauser sold 11,260 shares of the company’s stock in a transaction dated Saturday, September 10th. The shares were sold at an average price of $80.93, for a total transaction of $911,271.80. Following the completion of the sale, the executive vice president now directly owns 12,801 shares in the company, valued at $1,035,984.93. The disclosure for this sale can be found here. 0.94% of the stock is currently owned by insiders.

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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