Harman International Industries Inc. (NYSE:HAR) shares saw unusually-strong trading volume on Wednesday . Approximately 1,546,220 shares were traded during trading, an increase of 69% from the previous session’s volume of 917,365 shares.The stock last traded at $70.43 and had previously closed at $70.67.

A number of research analysts recently issued reports on HAR shares. Zacks Investment Research downgraded shares of Harman International Industries from a “hold” rating to a “sell” rating in a research report on Monday, April 11th. Evercore ISI upgraded shares of Harman International Industries from a “hold” rating to a “buy” rating and dropped their target price for the company from $135.00 to $115.00 in a research report on Monday, March 14th. Piper Jaffray Cos. started coverage on shares of Harman International Industries in a research report on Thursday, June 9th. They set a “neutral” rating and a $84.00 target price on the stock. Royal Bank Of Canada dropped their target price on shares of Harman International Industries from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, April 29th. Finally, Northcoast Research started coverage on shares of Harman International Industries in a research report on Tuesday, June 14th. They set a “buy” rating and a $105.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $100.80.

The firm’s 50-day moving average is $75.19 and its 200-day moving average is $79.39. The company has a market capitalization of $4.97 billion and a P/E ratio of 14.10.

Harman International Industries (NYSE:HAR) last announced its quarterly earnings results on Thursday, April 28th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.44 by $0.08. During the same quarter in the previous year, the company earned $1.22 EPS. The firm earned $1.60 billion during the quarter, compared to analyst estimates of $1.69 billion. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts forecast that Harman International Industries Inc. will post $6.19 EPS for the current year.

In other news, CMO Ralph Santana sold 3,650 shares of the firm’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $72.17, for a total value of $263,420.50. Following the completion of the sale, the chief marketing officer now owns 3,650 shares of the company’s stock, valued at approximately $263,420.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Other hedge funds have bought and sold shares of the company. Twin Capital Management Inc. boosted its stake in Harman International Industries by 0.7% in the fourth quarter. Twin Capital Management Inc. now owns 19,900 shares of the company’s stock worth $1,875,000 after buying an additional 130 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in Harman International Industries by 1.0% in the fourth quarter. Gulf International Bank UK Ltd now owns 19,430 shares of the company’s stock worth $1,831,000 after buying an additional 200 shares during the last quarter. Korea Investment CORP boosted its stake in Harman International Industries by 2.4% in the fourth quarter. Korea Investment CORP now owns 12,600 shares of the company’s stock worth $1,187,000 after buying an additional 300 shares during the last quarter. I.G. Investment Management LTD. boosted its stake in Harman International Industries by 1.0% in the fourth quarter. I.G. Investment Management LTD. now owns 42,617 shares of the company’s stock worth $4,015,000 after buying an additional 425 shares during the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. boosted its stake in Harman International Industries by 0.4% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 108,020 shares of the company’s stock worth $10,237,000 after buying an additional 440 shares during the last quarter.

Harman International Industries, Incorporated, is engaged in the designing and engineering of connected products and solutions for automakers, consumers and enterprises, including audio systems, visual products, enterprise automation solutions and connected services. The Company operates through four segments.

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