Stanley Capital Management buys $3,478,124 stake in Harman International Industries /DE/ (HAR)

Harman International Industries /DE/ (HAR) : Stanley Capital Management scooped up 4,700 additional shares in Harman International Industries /DE/ during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 31,700 shares of Harman International Industries /DE/ which is valued at $3,478,124.Harman International Industries /DE/ makes up approximately 2.60% of Stanley Capital Management’s portfolio.

Other Hedge Funds, Including , Numeric Investors sold out all of its stake in HAR during the most recent quarter. The investment firm sold 6,558 shares of HAR which is valued $719,544.New York State Teachers Retirement System reduced its stake in HAR by selling 1,538 shares or 1.27% in the most recent quarter. The Hedge Fund company now holds 119,620 shares of HAR which is valued at $10,434,453. Harman International Industries /DE/ makes up approx 0.03% of New York State Teachers Retirement System’s portfolio. Acrospire Investment Management added HAR to its portfolio by purchasing 800 company shares during the most recent quarter which is valued at $69,784. Harman International Industries /DE/ makes up approx 0.05% of Acrospire Investment Management’s portfolio.State Of New Jersey Common Pension Fund D boosted its stake in HAR in the latest quarter, The investment management firm added 310,000 additional shares and now holds a total of 360,000 shares of Harman International Industries /DE/ which is valued at $28,828,800. Harman International Industries /DE/ makes up approx 0.13% of State Of New Jersey Common Pension Fund D’s portfolio.

Harman International Industries /DE/ opened for trading at $109.19 and hit $109.9 on the upside on Monday, eventually ending the session at $109.35, with a gain of 0.05% or 0.05 points. The heightened volatility saw the trading volume jump to 25,73,806 shares. Company has a market cap of $7,623 M.

On the company’s financial health, Harman International Industries /DE/ reported $1.87 EPS for the quarter, beating the analyst consensus estimate by $ 0.33 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $1.54. The company had revenue of $1760.00 million for the quarter, compared to analysts expectations of $1736.03 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.48 EPS.

Many Wall Street Analysts have commented on Harman International Industries /DE/. Harman International Industries /DE/ was Downgraded by Raymond James to ” Outperform” on Nov 15, 2016. Harman International Industries /DE/ was Downgraded by Goldman to ” Neutral” on Nov 15, 2016. Company shares were Downgraded by Barclays on Nov 15, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 111 from a previous price target of $104 .

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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