Insider Selling: Sachin Lawande Unloads 36,108 Shares of Harman International Industries Stock (HAR)
Harman International Industries (NYSE:HAR) Insider Sachin Lawande sold 36,108 shares of Harman International Industries stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $66.48, for a total transaction of $2,400,459.84. Following the transaction, the insider now directly owns 7,599 shares in the company. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
HAR has been the subject of a number of recent research reports. Analysts at Barclays Capital raised their price target on shares of Harman International Industries (NYSE:HAR) from $57.00 to $59.00 in a research note to investors on Thursday, August 15th. They now have an “equal weight” rating on the stock. Separately, analysts at Morgan Stanley raised their price target on shares of Harman International Industries (NYSE:HAR) from $37.00 to $40.00 in a research note to investors on Friday, August 9th. They now have an “underweight” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Harman International Industries (NYSE:HAR) from $70.00 to $75.00 in a research note to investors on Friday, August 9th. They now have an “overweight” rating on the stock.
One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Harman International Industries currently has an average rating of “Hold” and a consensus target price of $59.20.
Harman International Industries (NYSE:HAR) traded up 0.62% on Monday, hitting $66.87. The stock had a trading volume of 596,041 shares. Harman International Industries has a one year low of $36.92 and a one year high of $71.66. The stock’s 50-day moving average is $64.87 and its 200-day moving average is $52.70. The company has a market cap of $4.552 billion and a P/E ratio of 32.58.
Harman International Industries (NYSE:HAR) last announced its earnings results on Tuesday, August 6th. The company reported $0.91 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.86 by $0.05. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the company posted $0.67 earnings per share. Harman International Industries’s revenue was up 8.3% compared to the same quarter last year. Analysts expect that Harman International Industries will post $3.87 EPS for the current fiscal year.
Harman International Industries, Incorporated is engaged in the developing, manufacturing and marketing of audio products and electronic systems.
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