Harman International Industries Inc (NYSE:HAR) has been given a consensus recommendation of “Hold” by the thirteen research firms that are presently covering the stock. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $95.57.

A number of brokerages have weighed in on HAR. Zacks Investment Research raised Harman International Industries from a “hold” rating to a “buy” rating and set a $123.00 price target on the stock in a research report on Thursday, December 15th. Wells Fargo & Co downgraded Harman International Industries from an “outperform” rating to a “market perform” rating in a research report on Friday, December 9th. Goldman Sachs Group Inc downgraded Harman International Industries from a “buy” rating to a “neutral” rating in a research report on Thursday, December 1st. Finally, Raymond James Financial, Inc. downgraded Harman International Industries from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 22nd.

Harman International Industries (NYSE:HAR) opened at 111.50 on Tuesday. Harman International Industries has a 52-week low of $64.93 and a 52-week high of $111.85. The company’s 50 day moving average price is $111.21 and its 200 day moving average price is $98.88.

Harman International Industries (NYSE:HAR) last announced its quarterly earnings results on Thursday, January 26th. The company reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.37. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.91 billion. Harman International Industries had a return on equity of 20.15% and a net margin of 5.05%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.84 earnings per share. On average, analysts forecast that Harman International Industries will post $7.35 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 22nd. Stockholders of record on Monday, February 6th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Thursday, February 2nd. Harman International Industries’s payout ratio is 27.61%.

In other news, EVP Herbert K. Parker sold 8,744 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $111.03, for a total value of $970,846.32. Following the transaction, the executive vice president now owns 12,477 shares of the company’s stock, valued at $1,385,321.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.94% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of HAR. Alpine Associates Management Inc. purchased a new position in Harman International Industries during the fourth quarter valued at approximately $153,735,000. Westchester Capital Management LLC purchased a new position in Harman International Industries during the fourth quarter valued at approximately $138,251,000. CNH Partners LLC purchased a new position in Harman International Industries during the fourth quarter valued at approximately $126,006,000. Paulson & CO. Inc. purchased a new position in Harman International Industries during the fourth quarter valued at approximately $94,908,000. Finally, Gamco Investors INC. ET AL increased its position in Harman International Industries by 1,107.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 851,325 shares of the company’s stock valued at $94,633,000 after buying an additional 780,825 shares during the last quarter. 85.79% of the stock is currently owned by institutional investors.

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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.

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