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

Harman International Industries /DE/ (HAR) : Crestpoint Capital Management reduced its stake in Harman International Industries /DE/ by 4.44% during the most recent quarter end. The investment management company now holds a total of 17,200 shares of Harman International Industries /DE/ which is valued at $1,346,416 after selling 800 shares in Harman International Industries /DE/ , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Harman International Industries /DE/ makes up approximately 0.70% of Crestpoint Capital Management’s portfolio.

Other Hedge Funds, Including , Nisa Investment Advisors boosted its stake in HAR in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 25,471 shares of Harman International Industries /DE/ which is valued at $1,993,870. Harman International Industries /DE/ makes up approx 0.03% of Nisa Investment Advisors’s portfolio.Gw&k Investment Management boosted its stake in HAR in the latest quarter, The investment management firm added 14,281 additional shares and now holds a total of 218,348 shares of Harman International Industries /DE/ which is valued at $16,978,740. Harman International Industries /DE/ makes up approx 0.35% of Gw&k Investment Management’s portfolio.Newman Dignan Sheerar reduced its stake in HAR by selling 757 shares or 10.62% in the most recent quarter. The Hedge Fund company now holds 6,370 shares of HAR which is valued at $469,788. Harman International Industries /DE/ makes up approx 0.30% of Newman Dignan Sheerar’s portfolio. Raymond James Trust N.a. sold out all of its stake in HAR during the most recent quarter. The investment firm sold 2,264 shares of HAR which is valued $166,970.Kistler-tiffany Companies boosted its stake in HAR in the latest quarter, The investment management firm added 747 additional shares and now holds a total of 1,270 shares of Harman International Industries /DE/ which is valued at $93,663. Harman International Industries /DE/ makes up approx 0.05% of Kistler-tiffany Companies’s portfolio.

Harman International Industries /DE/ opened for trading at $78.03 and hit $78.78 on the upside on Monday, eventually ending the session at $78.28, with a gain of 0.40% or 0.31 points. The heightened volatility saw the trading volume jump to 3,14,359 shares. Company has a market cap of $5,523 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/. 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.Shares were Reiterated by RBC Capital Mkts on Apr 29, 2016 to “Outperform” and Lowered the Price Target to $ 85 from a previous price target of $90 .

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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