Harley-Davidson Inc (HOG) Shares Sold by State Treasurer State of Michigan
State Treasurer State of Michigan decreased its position in shares of Harley-Davidson Inc (NYSE:HOG) by 4.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 49,377 shares of the company’s stock after selling 2,400 shares during the quarter. State Treasurer State of Michigan’s holdings in Harley-Davidson were worth $2,512,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Robinson Value Management Ltd. increased its position in Harley-Davidson by 3.5% during the third quarter. Robinson Value Management Ltd. now owns 31,959 shares of the company’s stock worth $1,541,000 after buying an additional 1,066 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Harley-Davidson by 22.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,080 shares of the company’s stock valued at $294,000 after purchasing an additional 1,100 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Harley-Davidson by 12.6% in the 3rd quarter. Private Advisor Group LLC now owns 9,904 shares of the company’s stock valued at $455,000 after purchasing an additional 1,111 shares during the last quarter. Hennessy Advisors Inc. grew its stake in shares of Harley-Davidson by 3.8% in the 3rd quarter. Hennessy Advisors Inc. now owns 35,600 shares of the company’s stock valued at $1,716,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in shares of Harley-Davidson by 1.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 96,998 shares of the company’s stock valued at $4,676,000 after purchasing an additional 1,373 shares during the last quarter. 97.26% of the stock is currently owned by institutional investors.
Shares of Harley-Davidson Inc (NYSE HOG) opened at $47.83 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.23 and a debt-to-equity ratio of 2.49. Harley-Davidson Inc has a 12 month low of $44.52 and a 12 month high of $63.40. The firm has a market capitalization of $8,049.56, a P/E ratio of 13.78, a P/E/G ratio of 1.60 and a beta of 0.84.
Harley-Davidson announced that its board has authorized a share buyback plan on Monday, February 5th that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Wednesday, February 14th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, February 13th. This is an increase from Harley-Davidson’s previous quarterly dividend of $0.37. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.09%. Harley-Davidson’s payout ratio is 48.99%.
In related news, VP Paul J. Jones sold 870 shares of Harley-Davidson stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $47.62, for a total value of $41,429.40. Following the sale, the vice president now directly owns 3,399 shares in the company, valued at $161,860.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.70% of the stock is owned by insiders.
Several brokerages have weighed in on HOG. Wells Fargo & Co upgraded Harley-Davidson from a “market perform” rating to an “outperform” rating and set a $59.00 target price on the stock in a research note on Monday, January 22nd. Wedbush lowered their target price on Harley-Davidson to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 10th. Longbow Research downgraded Harley-Davidson from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $54.00 target price (up from $49.00) on shares of Harley-Davidson in a research note on Wednesday, January 17th. Finally, Zacks Investment Research upgraded Harley-Davidson from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Tuesday, January 2nd. Three 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. The company currently has a consensus rating of “Hold” and an average price target of $52.00.
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Harley-Davidson Company Profile
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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