Wedge Capital Management L L P NC lowered its holdings in shares of Harley-Davidson, Inc. (NYSE:HOG – Get Rating) by 9.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,868 shares of the company’s stock after selling 750 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Harley-Davidson were worth $217,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. grew its position in shares of Harley-Davidson by 1.5% during the first quarter. BlackRock Inc. now owns 12,727,257 shares of the company’s stock worth $501,454,000 after purchasing an additional 194,089 shares in the last quarter. H Partners Management LLC grew its position in shares of Harley-Davidson by 2.4% during the first quarter. H Partners Management LLC now owns 12,600,000 shares of the company’s stock worth $496,440,000 after purchasing an additional 300,000 shares in the last quarter. Beutel Goodman & Co Ltd. grew its position in shares of Harley-Davidson by 3.0% during the first quarter. Beutel Goodman & Co Ltd. now owns 7,208,664 shares of the company’s stock worth $284,021,000 after purchasing an additional 210,360 shares in the last quarter. LSV Asset Management grew its position in shares of Harley-Davidson by 1.6% during the first quarter. LSV Asset Management now owns 4,985,954 shares of the company’s stock worth $196,447,000 after purchasing an additional 78,466 shares in the last quarter. Finally, State Street Corp grew its position in shares of Harley-Davidson by 5.6% during the first quarter. State Street Corp now owns 4,111,284 shares of the company’s stock worth $161,985,000 after purchasing an additional 216,545 shares in the last quarter. Hedge funds and other institutional investors own 87.12% of the company’s stock.
Insider Buying and Selling
In other Harley-Davidson news, Director Rafeh Masood purchased 1,335 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was purchased at an average cost of $37.50 per share, with a total value of $50,062.50. Following the purchase, the director now owns 1,335 shares of the company’s stock, valued at $50,062.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is owned by corporate insiders.
Harley-Davidson Price Performance
Harley-Davidson (NYSE:HOG – Get Rating) last announced its earnings results on Thursday, July 28th. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.21. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Harley-Davidson had a return on equity of 25.73% and a net margin of 12.11%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 EPS. Equities analysts expect that Harley-Davidson, Inc. will post 4.53 EPS for the current year.
Harley-Davidson Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Monday, September 12th will be paid a dividend of $0.1575 per share. This is a positive change from Harley-Davidson’s previous quarterly dividend of $0.16. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, September 9th. Harley-Davidson’s dividend payout ratio (DPR) is currently 15.37%.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on HOG shares. StockNews.com cut Harley-Davidson from a “buy” rating to a “hold” rating in a report on Saturday, August 6th. Bank of America cut their price target on Harley-Davidson from $70.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. Morgan Stanley cut their price target on Harley-Davidson from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, July 14th. Finally, DA Davidson raised their price target on Harley-Davidson to $36.00 in a report on Tuesday, August 9th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $47.29.
Harley-Davidson, Inc manufactures and sells motorcycles. The company operates in two segments, Motorcycles and Related Products and Financial Services. The Motorcycles and Related Products segment designs, manufactures, and sells Harley-Davidson motorcycles, including cruiser, touring, standard, sportbike, and dual models, as well as motorcycle parts, accessories, apparel, and related services.
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