JPMorgan Chase & Co. Raises Position in Harley-Davidson, Inc. $HOG

JPMorgan Chase & Co. increased its stake in Harley-Davidson, Inc. (NYSE:HOG) by 25.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 438,568 shares of the company’s stock after buying an additional 88,100 shares during the quarter. JPMorgan Chase & Co. owned about 0.37% of Harley-Davidson worth $12,236,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of HOG. Jefferies Financial Group Inc. purchased a new position in Harley-Davidson in the 2nd quarter worth approximately $589,000. Vanguard Group Inc. raised its stake in shares of Harley-Davidson by 7.3% during the third quarter. Vanguard Group Inc. now owns 12,958,561 shares of the company’s stock valued at $361,544,000 after purchasing an additional 886,998 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Harley-Davidson by 615.5% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 61,465 shares of the company’s stock worth $1,715,000 after purchasing an additional 52,875 shares in the last quarter. WINTON GROUP Ltd boosted its stake in shares of Harley-Davidson by 449.9% in the third quarter. WINTON GROUP Ltd now owns 295,687 shares of the company’s stock valued at $8,250,000 after purchasing an additional 241,918 shares during the period. Finally, Algert Global LLC purchased a new position in shares of Harley-Davidson in the third quarter valued at $17,246,000. 85.10% of the stock is currently owned by hedge funds and other institutional investors.

Harley-Davidson Trading Up 0.1%

HOG opened at $19.51 on Friday. Harley-Davidson, Inc. has a 12-month low of $17.09 and a 12-month high of $31.25. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.10 and a quick ratio of 1.83. The stock has a market capitalization of $2.18 billion, a PE ratio of 7.47 and a beta of 1.42. The firm’s fifty day moving average price is $19.34 and its 200 day moving average price is $22.95.

Harley-Davidson (NYSE:HOG) last announced its quarterly earnings data on Tuesday, February 10th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($1.52). The company had revenue of $496.16 million for the quarter, compared to analyst estimates of $482.21 million. Harley-Davidson had a return on equity of 10.27% and a net margin of 8.03%.Harley-Davidson’s revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.93) earnings per share. As a group, research analysts expect that Harley-Davidson, Inc. will post 3.44 EPS for the current fiscal year.

Harley-Davidson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Monday, March 2nd were paid a $0.1875 dividend. The ex-dividend date was Monday, March 2nd. This is an increase from Harley-Davidson’s previous quarterly dividend of $0.18. This represents a $0.75 dividend on an annualized basis and a yield of 3.8%. Harley-Davidson’s payout ratio is presently 28.74%.

Insider Buying and Selling

In related news, Director Rafeh Masood bought 2,775 shares of the company’s stock in a transaction on Friday, February 27th. The shares were purchased at an average cost of $18.00 per share, with a total value of $49,950.00. Following the completion of the transaction, the director directly owned 7,480 shares of the company’s stock, valued at approximately $134,640. This represents a 58.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James D. Farley, Jr. sold 6,454 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $18.71, for a total value of $120,754.34. Following the completion of the sale, the director owned 16,205 shares in the company, valued at $303,195.55. The trade was a 28.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company started coverage on shares of Harley-Davidson in a research note on Wednesday, March 11th. They set an “underweight” rating and a $15.00 price target on the stock. Wall Street Zen cut shares of Harley-Davidson from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Morgan Stanley restated an “underweight” rating and set a $12.00 target price on shares of Harley-Davidson in a research note on Tuesday, February 17th. Weiss Ratings cut Harley-Davidson from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Finally, Citigroup reduced their price target on Harley-Davidson from $28.00 to $23.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.67.

About Harley-Davidson

Harley-Davidson, Inc is a renowned American motorcycle manufacturer best known for its heavyweight cruiser and touring bikes. Founded in 1903 in Milwaukee, Wisconsin, the company has built a strong reputation for producing distinctive motorcycles characterized by their signature V-twin engines, chrome finishes and robust frames. Harley-Davidson markets its products globally through a network of franchised dealerships and focuses on delivering an immersive brand experience to its customers, emphasizing lifestyle and community alongside its motorcycles.

In addition to its core motorcycle business, Harley-Davidson offers an extensive range of parts, accessories and apparel under its Genuine Motor Parts & Accessories and MotorClothes lines.