Marcus Capital Lowers stake in Harman International Industries /DE/ (HAR)

Harman International Industries /DE/ (HAR) : Marcus Capital reduced its stake in Harman International Industries /DE/ by 0.92% during the most recent quarter end. The investment management company now holds a total of 26,975 shares of Harman International Industries /DE/ which is valued at $2,182,008 after selling 250 shares in Harman International Industries /DE/ , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Harman International Industries /DE/ makes up approximately 2.19% of Marcus Capital’s portfolio.

Other Hedge Funds, Including , Physicians Financial Services added HAR to its portfolio by purchasing 100 company shares during the most recent quarter which is valued at $7,828. Harman International Industries /DE/ makes up approx 0.01% of Physicians Financial Services’s portfolio.Patton Albertson Miller Group boosted its stake in HAR in the latest quarter, The investment management firm added 1,197 additional shares and now holds a total of 11,377 shares of Harman International Industries /DE/ which is valued at $884,676. Harman International Industries /DE/ makes up approx 0.39% of Patton Albertson Miller Group’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in HAR in the latest quarter, The investment management firm added 942 additional shares and now holds a total of 18,263 shares of Harman International Industries /DE/ which is valued at $1,346,896. Harman International Industries /DE/ makes up approx 0.03% of Exxonmobil Investment Management Inc Tx’s portfolio. Patten Patten Inctn added HAR to its portfolio by purchasing 4,225 company shares during the most recent quarter which is valued at $311,594. Harman International Industries /DE/ makes up approx 0.04% of Patten Patten Inctn’s portfolio.

Harman International Industries /DE/ opened for trading at $78.78 and hit $81.55 on the upside on Wednesday, eventually ending the session at $80.89, with a gain of 3.73% or 2.91 points. The heightened volatility saw the trading volume jump to 9,26,412 shares. Company has a market cap of $5,707 M.

On the company’s financial health, Harman International Industries /DE/ reported $1.36 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $1.42. The company had revenue of $1628.00 million for the quarter, compared to analysts expectations of $1680.86 million. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS.

Many Wall Street Analysts have commented on Harman International Industries /DE/. Deutsche Bank Initiated Harman International Industries /DE/ on Jul 20, 2016 to “Buy”, Price Target of the shares are set at $94.Harman International Industries /DE/ was Initiated by Northcoast to “Buy” on Jun 14, 2016. Piper Jaffray Initiated Harman International Industries /DE/ on Jun 10, 2016 to “Neutral”, Price Target of the shares are set at $84.

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. The Infotainment segment offers infotainment systems for vehicle applications. The Lifestyle segment offers car audio systems for vehicle applications as well as a range of loudspeaker and electronics for home multimedia and mobile applications. The Professional segment provides audio lighting video and control and automation solutions for commercial enterprise and public space applications. The Services segment creates software solutions that integrate design mobility cloud and analytics. Its brands include AKG AMX Crown Harman/Kardon Infinity JBL JBL Professional Lexicon Mark Levinson Martin Revel Soundcraft and Studer.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *