Atlantic Investment Management adds Harman International Industries /DE/ (HAR) to its portfolio

Harman International Industries /DE/ (HAR) : Atlantic Investment Management added new position in Harman International Industries /DE/ during the most recent quarter end. The investment management firm now holds 701,599 shares of Harman International Industries /DE/ which is valued at $59,502,611 , the company said in a statement filed on Aug 15, 2016 with the SEC.Harman International Industries /DE/ makes up approximately 6.36% of Atlantic Investment Management’s portfolio.

Other Hedge Funds, Including , Capstone Investment Advisors sold out all of its stake in HAR during the most recent quarter. The investment firm sold 2,900 shares of HAR which is valued $245,949.Cornerstone Capital Management Holdings. reduced its stake in HAR by selling 53,200 shares or 75.86% in the most recent quarter. The Hedge Fund company now holds 16,932 shares of HAR which is valued at $1,436,003. Harman International Industries /DE/ makes up approx 0.01% of Cornerstone Capital Management Holdings.’s portfolio.Bb&t Securities boosted its stake in HAR in the latest quarter, The investment management firm added 4,224 additional shares and now holds a total of 6,528 shares of Harman International Industries /DE/ which is valued at $567,414. Harman International Industries /DE/ makes up approx 0.01% of Bb&t Securities’s portfolio.Icm Asset Management Incwa reduced its stake in HAR by selling 7,140 shares or 39.05% in the most recent quarter. The Hedge Fund company now holds 11,145 shares of HAR which is valued at $921,023. Harman International Industries /DE/ makes up approx 1.25% of Icm Asset Management Incwa’s portfolio.

Harman International Industries /DE/ opened for trading at $85 and hit $86.5 on the upside on Thursday, eventually ending the session at $84.82, with a gain of 0.15% or 0.13 points. The heightened volatility saw the trading volume jump to 9,90,757 shares. Company has a market cap of $5,919 M.

On the company’s financial health, Harman International Industries /DE/ reported $1.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $1.52. The company had revenue of $1881.00 million for the quarter, compared to analysts expectations of $1788.93 million. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 EPS.

Many Wall Street Analysts have commented on Harman International Industries /DE/. Robert W. Baird Downgraded Harman International Industries /DE/ on Aug 5, 2016 to ” Neutral”, Price Target of the shares are set at $87.Company shares were Reiterated by Deutsche Bank on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 103 from a previous price target of $94 .Company shares were Reiterated by FBR Capital on Aug 5, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 90 from a previous price target of $85 .

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.

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