Harman International Industries Inc. (NYSE:HAR) shares were down 2.3% during trading on Friday . The stock 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.

Several research analysts have commented on HAR shares. Zacks Investment Research downgraded Harman International Industries from a “hold” rating to a “sell” rating in a research note on Monday, April 11th. Deutsche Bank AG started coverage on Harman International Industries in a research note on Wednesday. They issued a “buy” rating and a $94.00 target price for the company. Barclays PLC restated an “overweight” rating and issued a $103.00 target price (down previously from $105.00) on shares of Harman International Industries in a research note on Tuesday, July 19th. Northcoast Research started coverage on Harman International Industries in a research note on Tuesday, June 14th. They issued a “buy” rating and a $105.00 target price for the company. Finally, Goldman Sachs Group Inc. started coverage on Harman International Industries in a report on Thursday, March 31st. They issued a “buy” rating and a $110.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Harman International Industries has an average rating of “Buy” and an average target price of $99.88.

The company has a market cap of $5.62 billion and a price-to-earnings ratio of 15.96. The stock has a 50-day moving average of $75.66 and a 200-day moving average of $78.34.

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

In other Harman International Industries news, CMO Ralph Santana sold 3,650 shares of the business’s stock in a transaction dated 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 sale, the chief marketing officer now owns 3,650 shares of the company’s stock, valued at $263,420.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

A number of hedge funds recently added to or reduced their stakes in HAR. Twin Capital Management Inc. raised 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 valued at $1,875,000 after buying an additional 130 shares in the last quarter. Gulf International Bank UK Ltd raised 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 worth $1,831,000 after buying an additional 200 shares during the period. I.G. Investment Management LTD. raised its position 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 period. Mizuho Trust & Banking Co. Ltd. raised its position 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 period. Finally, ProShare Advisors LLC raised its position in Harman International Industries by 5.4% in the fourth quarter. ProShare Advisors LLC now owns 14,503 shares of the company’s stock worth $1,366,000 after buying an additional 744 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.