Harman International Industries /DE/ (HAR) : Edinburgh Partners Ltd scooped up 88,811 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 Apr 18, 2016. The investment management firm now holds a total of 897,527 shares of Harman International Industries /DE/ which is valued at $79,224,708.Harman International Industries /DE/ makes up approximately 8.69% of Edinburgh Partners Ltd’s portfolio.
Harman International Industries /DE/ opened for trading at $85.66 and hit $88.53 on the upside on Friday, eventually ending the session at $88.27, with a gain of 2.95% or 2.53 points. The heightened volatility saw the trading volume jump to 11,18,858 shares. Company has a market cap of $6,280 M.
Other Hedge Funds, Including , Simplex Trading reduced its stake in HAR by selling 6,216 shares or 74.78% in the most recent quarter. The Hedge Fund company now holds 2,096 shares of HAR which is valued at $177,804. Harman International Industries /DE/ makes up approx 0.03% of Simplex Trading’s portfolio.Gradient Investments boosted its stake in HAR in the latest quarter, The investment management firm added 711 additional shares and now holds a total of 4,179 shares of Harman International Industries /DE/ which is valued at $354,505. Harman International Industries /DE/ makes up approx 0.04% of Gradient Investments’s portfolio. Santa Fe Partners added HAR to its portfolio by purchasing 7,634 company shares during the most recent quarter which is valued at $647,592. Harman International Industries /DE/ makes up approx 0.11% of Santa Fe Partners’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.
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.