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Morgan Stanley lifted their price objective on shares of Harman International Industries (NYSE:HAR) from $40.00 to $44.00 in a research note issued on Monday, StockRatingsNetwork reports. Morgan Stanley’s target price would indicate a potential downside of 55.66% from the company’s current price.

Harman International Industries (NYSE:HAR) traded down 4.06% during mid-day trading on Monday, hitting $99.23. The stock had a trading volume of 1,689,547 shares. Harman International Industries has a 1-year low of $40.79 and a 1-year high of $105.58. The stock’s 50-day moving average is $86.57 and its 200-day moving average is $74.15. The company has a market cap of $6.818 billion and a price-to-earnings ratio of 45.73.

Harman International Industries (NYSE:HAR) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.14. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.24 billion. On average, analysts predict that Harman International Industries will post $4.05 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, February 25th. Investors of record on Monday, February 10th will be paid a dividend of 0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Thursday, February 6th.

In other Harman International Industries news, CAO Jennifer Peter sold 1,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $103.25, for a total transaction of $154,875.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Harman International Industries from $103.00 to $115.00 in a research note to investors on Friday. Separately, analysts at Barclays raised their price target on shares of Harman International Industries from $105.00 to $126.00 in a research note to investors on Friday. Finally, analysts at Robert W. Baird raised their price target on shares of Harman International Industries from $96.00 to $118.00 in a research note to investors on Friday. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $92.67.

Harman International Industries, Incorporated is engaged in the developing, manufacturing and marketing of audio products and electronic systems.

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