Harley-Davidson Inc (HOG) Position Cut by Arizona State Retirement System
Arizona State Retirement System cut its position in shares of Harley-Davidson Inc (NYSE:HOG) by 8.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,635 shares of the company’s stock after selling 2,822 shares during the period. Arizona State Retirement System’s holdings in Harley-Davidson were worth $1,092,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ford Financial Group Inc. purchased a new stake in Harley-Davidson during the fourth quarter worth $272,000. AlphaCrest Capital Management LLC purchased a new position in Harley-Davidson during the fourth quarter valued at $442,000. Diligent Investors LLC lifted its holdings in Harley-Davidson by 24.5% during the fourth quarter. Diligent Investors LLC now owns 7,109 shares of the company’s stock valued at $243,000 after purchasing an additional 1,400 shares in the last quarter. CHICAGO TRUST Co NA lifted its holdings in Harley-Davidson by 30.0% during the first quarter. CHICAGO TRUST Co NA now owns 57,060 shares of the company’s stock valued at $2,034,000 after purchasing an additional 13,172 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Harley-Davidson by 0.5% during the fourth quarter. BlackRock Inc. now owns 10,863,182 shares of the company’s stock valued at $370,651,000 after purchasing an additional 53,565 shares in the last quarter. 90.03% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of Harley-Davidson from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. Goldman Sachs Group reaffirmed a “sell” rating and set a $34.00 price objective (down from $37.00) on shares of Harley-Davidson in a report on Wednesday, April 24th. Zacks Investment Research downgraded shares of Harley-Davidson from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. Northcoast Research reaffirmed a “neutral” rating on shares of Harley-Davidson in a report on Thursday, April 4th. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and set a $41.00 price objective (down from $49.00) on shares of Harley-Davidson in a report on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $42.08.
Harley-Davidson (NYSE:HOG) last issued its earnings results on Tuesday, April 23rd. The company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.12. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Harley-Davidson had a net margin of 8.72% and a return on equity of 28.82%. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 earnings per share. As a group, equities research analysts predict that Harley-Davidson Inc will post 3.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 30th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date is Wednesday, May 29th. Harley-Davidson’s dividend payout ratio (DPR) is 39.68%.
Harley-Davidson, Inc manufactures and sells custom, cruiser, and touring motorcycles. The company operates in two segments, Motorcycles and Related Products and Financial Services. The Motorcycles and Related Products segment designs, manufactures, and sells on-road Harley-Davidson motorcycles, including cruiser, touring, standard, sportbike, and dual models, as well as motorcycle parts, accessories, general merchandise, and related services.
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