Private Advisor Group LLC Raises Stake in Harley-Davidson Inc. (HOG)
Private Advisor Group LLC boosted its stake in Harley-Davidson Inc. (NYSE:HOG) by 64.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,972 shares of the company’s stock after buying an additional 3,136 shares during the period. Private Advisor Group LLC’s holdings in Harley-Davidson were worth $378,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cutler Capital Management LLC increased its position in Harley-Davidson by 33.3% in the second quarter. Cutler Capital Management LLC now owns 4,000 shares of the company’s stock valued at $181,000 after buying an additional 1,000 shares during the last quarter. First Republic Investment Management Inc. purchased a new position in Harley-Davidson during the first quarter valued at approximately $208,000. Wedbush Securities Inc. increased its position in Harley-Davidson by 13.8% in the second quarter. Wedbush Securities Inc. now owns 4,758 shares of the company’s stock valued at $216,000 after buying an additional 577 shares during the last quarter. Stoneridge Investment Partners LLC purchased a new position in Harley-Davidson during the second quarter valued at approximately $259,000. Finally, Glassman Wealth Services increased its position in Harley-Davidson by 59.3% in the second quarter. Glassman Wealth Services now owns 5,842 shares of the company’s stock valued at $265,000 after buying an additional 2,175 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.
Shares of Harley-Davidson Inc. (NYSE:HOG) traded down 0.65% during trading on Tuesday, hitting $51.67. The company had a trading volume of 376,221 shares. Harley-Davidson Inc. has a 52-week low of $36.36 and a 52-week high of $57.33. The stock’s 50-day moving average is $52.81 and its 200 day moving average is $48.61. The firm has a market capitalization of $9.33 billion, a P/E ratio of 13.75 and a beta of 1.09.
Harley-Davidson (NYSE:HOG) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.01. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.67 billion. Harley-Davidson had a return on equity of 34.33% and a net margin of 13.23%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.44 earnings per share. Equities research analysts predict that Harley-Davidson Inc. will post $3.87 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Tuesday, September 13th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Friday, September 9th. Harley-Davidson’s payout ratio is 36.65%.
A number of brokerages have recently issued reports on HOG. Wedbush reiterated a “hold” rating on shares of Harley-Davidson in a report on Saturday. Vetr downgraded Harley-Davidson from a “strong-buy” rating to a “buy” rating and set a $51.44 price target on the stock. in a report on Tuesday, May 31st. Citigroup Inc. reiterated a “buy” rating and issued a $51.00 price target on shares of Harley-Davidson in a report on Monday, June 13th. Longbow Research reiterated a “hold” rating on shares of Harley-Davidson in a report on Wednesday, June 15th. Finally, Barclays PLC downgraded Harley-Davidson from an “equal weight” rating to an “underperform” rating and cut their price target for the company from $49.00 to $45.00 in a report on Friday, July 29th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. Harley-Davidson presently has an average rating of “Hold” and an average target price of $51.40.
In other Harley-Davidson news, insider Lawrence G. Hund sold 12,537 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $53.23, for a total transaction of $667,344.51. Following the transaction, the insider now owns 16,922 shares of the company’s stock, valued at $900,758.06. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Paul J. Jones sold 2,517 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $54.03, for a total value of $135,993.51. The disclosure for this sale can be found here. Company insiders own 0.99% of the company’s stock.
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 l Harley-Davidson motorcycles, as well as a line of motorcycle parts, accessories, general merchandise and related services.
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