Professional Advisory Services Inc buys $8,625,751 stake in Harman International Industries /DE/ (HAR)

Harman International Industries /DE/ (HAR) : Professional Advisory Services Inc scooped up 62,160 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 Jul 15, 2016. The investment management firm now holds a total of 110,191 shares of Harman International Industries /DE/ which is valued at $8,625,751.Harman International Industries /DE/ makes up approximately 1.92% of Professional Advisory Services Inc’s portfolio.

Other Hedge Funds, Including , Peddock Capital Advisors boosted its stake in HAR in the latest quarter, The investment management firm added 77 additional shares and now holds a total of 5,923 shares of Harman International Industries /DE/ which is valued at $463,652. Harman International Industries /DE/ makes up approx 0.29% of Peddock Capital Advisors’s portfolio.Capstone Asset Management Co reduced its stake in HAR by selling 360 shares or 7.78% in the most recent quarter. The Hedge Fund company now holds 4,268 shares of HAR which is valued at $331,880. Harman International Industries /DE/ makes up approx 0.01% of Capstone Asset Management Co’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.Bnp Paribas Arbitrage Sa reduced its stake in HAR by selling 2,911 shares or 13.46% in the most recent quarter. The Hedge Fund company now holds 18,718 shares of HAR which is valued at $1,380,453. Harman International Industries /DE/ makes up approx 0.01% of Bnp Paribas Arbitrage Sa’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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