Bank of New York Mellon Corp Sells 58,406 Shares of Harley-Davidson, Inc. (NYSE:HOG)

Bank of New York Mellon Corp reduced its stake in Harley-Davidson, Inc. (NYSE:HOG) by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,411,724 shares of the company’s stock after selling 58,406 shares during the period. Bank of New York Mellon Corp owned 1.14% of Harley-Davidson worth $35,646,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. lifted its position in Harley-Davidson by 0.4% during the first quarter. Principal Financial Group Inc. now owns 264,185 shares of the company’s stock valued at $6,671,000 after purchasing an additional 1,178 shares during the period. Skylands Capital LLC raised its position in shares of Harley-Davidson by 79.3% during the 1st quarter. Skylands Capital LLC now owns 43,200 shares of the company’s stock valued at $1,091,000 after purchasing an additional 19,100 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Harley-Davidson by 52.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,110 shares of the company’s stock valued at $53,000 after acquiring an additional 725 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in Harley-Davidson during the first quarter valued at $596,000. Finally, IMG Wealth Management Inc. purchased a new position in shares of Harley-Davidson in the 1st quarter worth $48,000. Hedge funds and other institutional investors own 85.10% of the company’s stock.

Harley-Davidson Price Performance

Harley-Davidson stock opened at $24.64 on Tuesday. The company has a quick ratio of 1.36, a current ratio of 1.56 and a debt-to-equity ratio of 1.56. Harley-Davidson, Inc. has a 52-week low of $20.45 and a 52-week high of $39.93. The company has a fifty day simple moving average of $24.37 and a 200-day simple moving average of $25.33. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 0.49 and a beta of 1.30.

Harley-Davidson (NYSE:HOG) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.27. Harley-Davidson had a net margin of 7.82% and a return on equity of 10.72%. The firm had revenue of $315.24 million during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the firm posted $1.72 earnings per share. Harley-Davidson’s quarterly revenue was down 23.2% on a year-over-year basis. On average, equities analysts anticipate that Harley-Davidson, Inc. will post 3.44 EPS for the current fiscal year.

Harley-Davidson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Monday, June 2nd. Harley-Davidson’s dividend payout ratio (DPR) is presently 26.87%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HOG. Robert W. Baird lifted their price objective on shares of Harley-Davidson from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Wednesday, May 14th. DA Davidson reissued a “buy” rating and set a $31.00 target price on shares of Harley-Davidson in a research report on Wednesday, April 9th. Citigroup boosted their target price on shares of Harley-Davidson from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. Finally, UBS Group decreased their target price on shares of Harley-Davidson from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Tuesday, July 8th. Six equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $29.83.

Harley-Davidson Company Profile

Harley-Davidson, Inc manufactures and sells motorcycles in the United States and internationally. The company operates in three segments: Harley-Davidson Motor Company, LiveWire, and Harley-Davidson Financial Services. The Harley-Davidson Motor Company segment designs, manufactures, and sells motorcycles, including cruiser, trike, touring, standard, sportbike, adventure, and dual sport, as well as motorcycle parts, accessories, and apparel, as well as licenses its trademarks and related services.