Harman International Industries Insider Unloads $625,620 in Stock (HAR)
Harman International Industries (NYSE:HAR) Insider Sachin Lawande sold 6,000 shares of the stock on the open market in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $104.27, for a total value of $625,620.00. Following the transaction, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $521,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Harman International Industries (NYSE:HAR) traded down 0.86% on Tuesday, hitting $103.89. 467,749 shares of the company’s stock traded hands. Harman International Industries has a 1-year low of $40.79 and a 1-year high of $105.80. The stock has a 50-day moving average of $92.34 and a 200-day moving average of $77.40. The company has a market cap of $7.042 billion and a price-to-earnings ratio of 46.33.
Harman International Industries (NYSE:HAR) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.09 earnings per share for the quarter, beating the analysts’ 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 $4.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, February 25th. Shareholders 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 1.15%. The ex-dividend date is Thursday, February 6th.
A number of analysts have recently weighed in on HAR shares. Analysts at Morgan Stanley raised their price target on shares of Harman International Industries from $40.00 to $44.00 in a research note on Monday, February 3rd. Separately, 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 on Friday, January 31st. Finally, analysts at Barclays raised their price target on shares of Harman International Industries from $105.00 to $126.00 in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Harman International Industries currently has an average rating of “Buy” and an average 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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