Northcoast Research downgraded shares of Harman International Industries Inc. (NYSE:HAR) from a buy rating to a neutral rating in a research note released on Tuesday morning.

A number of other research analysts have also recently weighed in on HAR. Barclays PLC restated an overweight rating and set a $103.00 target price (down previously from $105.00) on shares of Harman International Industries in a research note on Tuesday, July 19th. Deutsche Bank AG initiated coverage on shares of Harman International Industries in a research note on Wednesday, July 20th. They set a buy rating and a $94.00 target price on the stock. Robert W. Baird cut shares of Harman International Industries from an outperform rating to a neutral rating and set a $87.00 target price on the stock. in a research note on Friday, August 5th. FBR & Co lifted their target price on shares of Harman International Industries from $85.00 to $90.00 and gave the company a mkt perform rating in a research note on Friday, August 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Harman International Industries from $102.00 to $108.00 and gave the company an overweight rating in a research note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $97.63.

Shares of Harman International Industries (NYSE:HAR) opened at 109.30 on Tuesday. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 20.87 and a beta of 1.53. The firm’s 50-day moving average is $84.18 and its 200 day moving average is $80.44. Harman International Industries has a 52-week low of $64.93 and a 52-week high of $110.85.

Harman International Industries (NYSE:HAR) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $1.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.34. The business 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%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.48 EPS. Equities analysts expect that Harman International Industries will post $7.09 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders 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 dividend yield of 1.28%. Harman International Industries’s payout ratio is presently 26.77%.

In related news, EVP Herbert K. Parker sold 8,744 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $79.48, for a total transaction of $694,973.12. Following the completion of the sale, the executive vice president now owns 21,321 shares of the company’s stock, valued at $1,694,593.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Mauser sold 886 shares of the stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $82.23, for a total transaction of $72,855.78. Following the sale, the executive vice president now directly owns 19,747 shares of the company’s stock, valued at approximately $1,623,795.81. The disclosure for this sale can be found here. 0.94% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. Snow Capital Management LP purchased a new stake in Harman International Industries during the second quarter worth approximately $480,000. Kornitzer Capital Management Inc. KS boosted its stake in Harman International Industries by 21.1% in the second quarter. Kornitzer Capital Management Inc. KS now owns 406,555 shares of the company’s stock worth $29,199,000 after buying an additional 70,885 shares during the last quarter. GW&K Investment Management LLC boosted 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 worth $15,682,000 after buying an additional 14,281 shares during the last quarter. Natixis boosted its stake in Harman International Industries by 168.5% in the first quarter. Natixis now owns 11,190 shares of the company’s stock worth $996,000 after buying an additional 7,022 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake 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 worth $25,431,000 after buying an additional 9,105 shares during the last quarter. 94.04% of the stock is owned by institutional investors.

About Harman International Industries

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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