Russell Investments Group Ltd. bought a new position in shares of Harman International Industries Inc (NYSE:HAR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 17,859 shares of the company’s stock, valued at approximately $1,982,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kistler Tiffany Companies LLC increased its position in shares of Harman International Industries by 8.8% in the third quarter. Kistler Tiffany Companies LLC now owns 1,382 shares of the company’s stock valued at $117,000 after buying an additional 112 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Harman International Industries during the third quarter valued at $140,000. Daiwa Securities Group Inc. boosted its stake in Harman International Industries by 9.4% in the third quarter. Daiwa Securities Group Inc. now owns 1,750 shares of the company’s stock valued at $148,000 after buying an additional 150 shares during the period. Virtus Investment Advisers Inc. bought a new stake in Harman International Industries during the third quarter valued at $152,000. Finally, Toronto Dominion Bank boosted its stake in Harman International Industries by 422.5% in the third quarter. Toronto Dominion Bank now owns 2,043 shares of the company’s stock valued at $172,000 after buying an additional 1,652 shares during the period. 85.79% of the stock is owned by hedge funds and other institutional investors.
Shares of Harman International Industries Inc (NYSE:HAR) remained flat at $111.50 on Friday. Harman International Industries Inc has a 52-week low of $64.93 and a 52-week high of $111.85. The stock has a 50 day moving average price of $111.21 and a 200-day moving average price of $98.88.
Harman International Industries (NYSE:HAR) last issued its quarterly earnings data on Thursday, January 26th. The company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.37. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.91 billion. Harman International Industries had a net margin of 5.05% and a return on equity of 20.15%. Harman International Industries’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 EPS. Equities analysts predict that Harman International Industries Inc will post $7.35 EPS for the current fiscal year.
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HAR has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Harman International Industries from a “hold” rating to a “buy” rating and set a $124.00 target price on the stock in a research report on Friday, December 23rd. Raymond James Financial, Inc. cut shares of Harman International Industries from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 22nd. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Harman International Industries currently has an average rating of “Hold” and a consensus price target of $100.00.
In other Harman International Industries news, EVP Herbert K. Parker sold 8,744 shares of the business’s stock in a transaction dated Monday, January 30th. The shares were sold at an average price of $111.03, for a total transaction of $970,846.32. Following the sale, the executive vice president now directly owns 12,477 shares in the company, valued at $1,385,321.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.94% of the stock is owned by corporate insiders.
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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