Harman International Industries CEO Unloads $5,102,402 in Stock (HAR)
Harman International Industries (NYSE:HAR) CEO Dinesh C. Paliwal sold 49,194 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $103.72, for a total transaction of $5,102,401.68. Following the sale, the chief executive officer now directly owns 81,440 shares in the company, valued at approximately $8,446,957. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
HAR has been the subject of a number of recent research reports. 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $92.67.
Shares of Harman International Industries (NYSE:HAR) traded up 0.66% on Friday, hitting $104.48. 427,990 shares of the company’s stock traded hands. Harman International Industries has a 52-week low of $40.79 and a 52-week high of $105.80. The stock’s 50-day moving average is $93.93 and its 200-day moving average is $78.08. The company has a market cap of $7.082 billion and a price-to-earnings ratio of 45.88.
Harman International Industries (NYSE:HAR) last released its earnings data on Friday, January 31st. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters 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 1.16%. The ex-dividend date is Thursday, February 6th.
Harman International Industries, Incorporated is engaged in the developing, manufacturing and marketing of audio products and electronic systems.
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