Harman International Industries Inc. (NYSE:HAR)’s share price was down 2.3% on Friday . The company traded as low as $79.57 and last traded at $80.25, with a volume of 480,764 shares. The stock had previously closed at $82.11.

A number of equities analysts have weighed in on HAR shares. Zacks Investment Research cut shares of Harman International Industries from a “hold” rating to a “sell” rating in a research report on Monday, April 11th. Royal Bank Of Canada reduced their price objective on shares of Harman International Industries from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, April 29th. 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 price objective for the company. Barclays PLC restated an “overweight” rating and set a $103.00 price objective (down from $105.00) on shares of Harman International Industries in a research report on Tuesday. 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 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $99.88.

The company has a market capitalization of $5.62 billion and a P/E ratio of 15.96. The firm has a 50-day moving average of $75.67 and a 200 day moving average of $78.44.

Harman International Industries (NYSE:HAR) last released its earnings results on Thursday, April 28th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by $0.08. The business earned $1.60 billion during the quarter, compared to the consensus estimate of $1.69 billion. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 earnings per share. On average, equities research analysts forecast that Harman International Industries Inc. will post $6.20 EPS for the current year.

In other news, CMO Ralph Santana sold 3,650 shares of Harman International Industries stock in a transaction on Friday, May 6th. The stock was sold at an average price of $72.17, for a total transaction of $263,420.50. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at this link.

Several hedge funds and institutional investors have recently added to or reduced their stakes in the company. Cornerstone Capital Management Holdings LLC. increased its position in Harman International Industries by 35.1% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 64,052 shares of the company’s stock valued at $6,034,000 after buying an additional 16,648 shares during the period. Twin Capital Management Inc. increased its position 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 valued at $1,875,000 after buying an additional 130 shares during the period. Morgan Stanley increased its position in Harman International Industries by 204.3% in the fourth quarter. Morgan Stanley now owns 383,502 shares of the company’s stock valued at $36,131,000 after buying an additional 257,467 shares during the period. Gulf International Bank UK Ltd increased its position 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 valued at $1,831,000 after buying an additional 200 shares during the period. Finally, BOKF NA increased its position in Harman International Industries by 4.9% in the fourth quarter. BOKF NA now owns 37,561 shares of the company’s stock valued at $3,539,000 after buying an additional 1,766 shares during the period.

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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