Lord Abbett & CO. LLC Sells 564,693 Shares of Harley-Davidson, Inc. (NYSE:HOG)

Lord Abbett & CO. LLC lessened its position in shares of Harley-Davidson, Inc. (NYSE:HOG) by 41.3% during the third quarter, HoldingsChannel.com reports. The fund owned 801,933 shares of the company’s stock after selling 564,693 shares during the period. Lord Abbett & CO. LLC’s holdings in Harley-Davidson were worth $29,359,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HOG. H Partners Management LLC grew its position in shares of Harley-Davidson by 33.3% during the 3rd quarter. H Partners Management LLC now owns 11,200,000 shares of the company’s stock valued at $410,032,000 after purchasing an additional 2,800,000 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Harley-Davidson by 137.9% during the second quarter. Goldman Sachs Group Inc. now owns 3,046,952 shares of the company’s stock worth $139,612,000 after buying an additional 1,766,341 shares in the last quarter. Invesco Ltd. increased its stake in Harley-Davidson by 12.5% in the 2nd quarter. Invesco Ltd. now owns 8,837,833 shares of the company’s stock worth $404,948,000 after acquiring an additional 984,373 shares during the last quarter. Boston Partners raised its holdings in shares of Harley-Davidson by 7.0% in the 3rd quarter. Boston Partners now owns 13,682,239 shares of the company’s stock valued at $500,854,000 after acquiring an additional 901,026 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Harley-Davidson during the 2nd quarter valued at about $41,215,000. Institutional investors and hedge funds own 89.86% of the company’s stock.

HOG stock opened at $38.18 on Friday. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 0.22 and a beta of 1.44. The firm’s 50-day moving average price is $37.68 and its two-hundred day moving average price is $38.95. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 2.09. Harley-Davidson, Inc. has a 12-month low of $31.20 and a 12-month high of $52.06.

Harley-Davidson (NYSE:HOG) last announced its quarterly earnings results on Wednesday, October 27th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.37. Harley-Davidson had a return on equity of 28.90% and a net margin of 10.98%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business earned $1.05 EPS. Harley-Davidson’s revenue was up 20.4% compared to the same quarter last year. Equities analysts predict that Harley-Davidson, Inc. will post 3.92 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 23rd. Investors of record on Wednesday, December 8th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, December 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.57%. Harley-Davidson’s dividend payout ratio is presently 17.49%.

HOG has been the subject of a number of research reports. Zacks Investment Research cut shares of Harley-Davidson from a “buy” rating to a “hold” rating and set a $38.00 price target for the company. in a research note on Tuesday, December 28th. Royal Bank of Canada lowered their price target on Harley-Davidson from $41.00 to $38.00 and set a “sector perform” rating on the stock in a research report on Friday, October 29th. Morgan Stanley cut their price objective on Harley-Davidson from $41.00 to $39.00 and set an “underweight” rating for the company in a report on Tuesday, December 21st. Finally, BMO Capital Markets raised their price objective on Harley-Davidson from $54.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, October 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $51.05.

Harley-Davidson Profile

Harley-Davidson, Inc is engaged in the manufacture and sale of custom, cruiser and touring motorcycles. It operates through the following segments: Motorcycles & Related Products; and Financial Services. The Motorcycles & Related Products segment manufactures, designs, and sells at wholesale on-road Harley-Davidson motorcycles as well as motorcycle parts, accessories, general merchandise, and related services.

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Institutional Ownership by Quarter for Harley-Davidson (NYSE:HOG)

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