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

Harman International Industries /DE/ (HAR) : Eagle Ridge Investment Management added new position in Harman International Industries /DE/ during the most recent quarter end. The investment management firm now holds 6,203 shares of Harman International Industries /DE/ which is valued at $547,539 , the company said in a statement filed on Apr 21, 2016 with the SEC.Harman International Industries /DE/ makes up approximately 0.13% of Eagle Ridge Investment Management’s portfolio.

Harman International Industries /DE/ opened for trading at $88.1 and hit $89.215 on the upside on Wednesday, eventually ending the session at $88.9, with a gain of 0.94% or 0.83 points. The heightened volatility saw the trading volume jump to 10,40,706 shares. Company has a market cap of $6,325 M.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in HAR during the most recent quarter. The investment firm sold 5,167 shares of HAR which is valued $456,091.Somerset Trust Co reduced its stake in HAR by selling 2,911 shares or 41.68% in the most recent quarter. The Hedge Fund company now holds 4,074 shares of HAR which is valued at $345,597. Harman International Industries /DE/ makes up approx 0.23% of Somerset Trust Co’s portfolio.British Columbia Investment Management Corp reduced its stake in HAR by selling 9,458 shares or 39.81% in the most recent quarter. The Hedge Fund company now holds 14,297 shares of HAR which is valued at $1,160,916. Harman International Industries /DE/ makes up approx 0.01% of British Columbia Investment Management Corp’s portfolio.Proficio Capital Partners boosted its stake in HAR in the latest quarter, The investment management firm added 284 additional shares and now holds a total of 293 shares of Harman International Industries /DE/ which is valued at $23,792. Harman International Industries /DE/ makes up approx 0.02% of Proficio Capital Partners’s portfolio.

On the company’s financial health, Harman International Industries /DE/ reported $1.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $1.72. The company had revenue of $1772.00 million for the quarter, compared to analysts expectations of $1792.62 million. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.79 EPS.

Many Wall Street Analysts have commented on Harman International Industries /DE/. Goldman Initiated Harman International Industries /DE/ on Mar 31, 2016 to “Buy”, Price Target of the shares are set at $110.Shares were Reiterated by FBR Capital on Jan 29, 2016 to “Mkt Perform” and Lowered the Price Target to $ 85 from a previous price target of $125 .Shares were Reiterated by RBC Capital Mkts on Jan 29, 2016 to “Outperform” and Lowered the Price Target to $ 90 from a previous price target of $93 .

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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