OLD National Bancorp IN lowered its holdings in shares of Harley-Davidson Inc (NYSE:HOG) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,053 shares of the company’s stock after selling 1,391 shares during the quarter. OLD National Bancorp IN’s holdings in Harley-Davidson were worth $461,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Independent Franchise Partners LLP boosted its holdings in Harley-Davidson by 53.3% in the third quarter. Independent Franchise Partners LLP now owns 8,101,285 shares of the company’s stock valued at $390,562,000 after purchasing an additional 2,815,749 shares during the period. Bank of New York Mellon Corp increased its holdings in Harley-Davidson by 18.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,183,477 shares of the company’s stock valued at $153,476,000 after purchasing an additional 488,628 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in Harley-Davidson by 31.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,000,400 shares of the company’s stock valued at $96,439,000 after purchasing an additional 482,900 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Harley-Davidson by 86.5% in the 3rd quarter. Mackenzie Financial Corp now owns 574,565 shares of the company’s stock valued at $27,700,000 after purchasing an additional 266,500 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Harley-Davidson by 27.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,129,738 shares of the company’s stock valued at $54,465,000 after purchasing an additional 245,139 shares in the last quarter. Institutional investors own 95.87% of the company’s stock.
In related news, VP Paul J. Jones sold 870 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $47.62, for a total transaction of $41,429.40. Following the completion of the transaction, the vice president now owns 3,399 shares in the company, valued at $161,860.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Tchernavia Rocker sold 1,401 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $47.74, for a total transaction of $66,883.74. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.
A number of analysts recently weighed in on the stock. Wedbush lowered their target price on shares of Harley-Davidson to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 10th. Stifel Nicolaus dropped their price target on shares of Harley-Davidson from $54.00 to $49.00 and set a “hold” rating for the company in a research note on Wednesday, January 31st. Zacks Investment Research raised shares of Harley-Davidson from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Friday, February 2nd. Wells Fargo & Co dropped their price target on shares of Harley-Davidson from $59.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, February 1st. Finally, ValuEngine downgraded shares of Harley-Davidson from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. Harley-Davidson currently has a consensus rating of “Hold” and a consensus target price of $52.00.
Shares of Harley-Davidson Inc (HOG) traded up $0.53 during mid-day trading on Thursday, hitting $46.83. 525,717 shares of the stock traded hands, compared to its average volume of 3,200,201. The company has a debt-to-equity ratio of 2.49, a current ratio of 1.23 and a quick ratio of 1.06. Harley-Davidson Inc has a 52 week low of $44.52 and a 52 week high of $63.40. The company has a market capitalization of $7,849.29, a P/E ratio of 15.68, a price-to-earnings-growth ratio of 1.56 and a beta of 0.84.
Harley-Davidson (NYSE:HOG) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.08. Harley-Davidson had a net margin of 10.62% and a return on equity of 31.23%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. sell-side analysts predict that Harley-Davidson Inc will post 3.75 earnings per share for the current fiscal year.
Harley-Davidson declared that its Board of Directors has approved a stock buyback program on Monday, February 5th that allows the company to buyback 15,000,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Wednesday, February 14th will be given a dividend of $0.37 per share. This is an increase from Harley-Davidson’s previous quarterly dividend of $0.37. The ex-dividend date is Tuesday, February 13th. This represents a $1.48 annualized dividend and a dividend yield of 3.16%. Harley-Davidson’s dividend payout ratio is currently 49.66%.
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Harley-Davidson, Inc is the parent company for the groups of companies doing business as Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). The Company operates in two segments: the Motorcycles & Related Products (Motorcycles) and the Financial Services. The Motorcycles segment consists of HDMC, which designs, manufactures and sells at wholesale on-road Harley-Davidson motorcycles, as well as motorcycle parts, accessories, general merchandise and related services.
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