Kovitz Investment Group Partners LLC reduced its holdings in shares of Harley-Davidson Inc (NYSE:HOG) by 2.0% during the fourth quarter, Holdings Channel reports. The fund owned 713,827 shares of the company’s stock after selling 14,205 shares during the period. Harley-Davidson comprises about 1.6% of Kovitz Investment Group Partners LLC’s investment portfolio, making the stock its 28th biggest position. Kovitz Investment Group Partners LLC’s holdings in Harley-Davidson were worth $36,319,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of HOG. Steward Partners Investment Advisory LLC bought a new position in shares of Harley-Davidson in the third quarter worth approximately $166,000. IFG Advisory LLC bought a new position in shares of Harley-Davidson in the fourth quarter worth approximately $239,000. Dynamic Capital Management Ltd bought a new position in shares of Harley-Davidson in the fourth quarter worth approximately $255,000. Sciencast Management LP bought a new position in shares of Harley-Davidson in the fourth quarter worth approximately $266,000. Finally, IFM Investors Pty Ltd bought a new position in shares of Harley-Davidson in the third quarter worth approximately $280,000. Institutional investors and hedge funds own 95.87% of the company’s stock.
Shares of Harley-Davidson Inc (NYSE:HOG) opened at $43.46 on Thursday. Harley-Davidson Inc has a 52 week low of $43.30 and a 52 week high of $63.40. The company has a market capitalization of $7,553.35, a price-to-earnings ratio of 12.93, a P/E/G ratio of 1.49 and a beta of 0.86. 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 (NYSE:HOG) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.08. Harley-Davidson had a return on equity of 31.23% and a net margin of 10.62%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm posted $0.27 earnings per share. The firm’s revenue was up 12.2% on a year-over-year basis. analysts expect that Harley-Davidson Inc will post 3.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Wednesday, February 14th were paid a $0.37 dividend. This is a positive change from Harley-Davidson’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, February 13th. This represents a $1.48 dividend on an annualized basis and a yield of 3.41%. Harley-Davidson’s dividend payout ratio (DPR) is presently 49.66%.
Harley-Davidson declared that its Board of Directors has approved a stock repurchase plan on Monday, February 5th that permits the company to buyback 15,000,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.
Several brokerages have recently issued reports on HOG. Citigroup cut their target price on shares of Harley-Davidson from $57.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Zacks Investment Research cut shares of Harley-Davidson from a “buy” rating to a “hold” rating in a report on Monday, February 5th. ValuEngine cut shares of Harley-Davidson from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Wells Fargo & Co cut their target price on shares of Harley-Davidson from $59.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, February 1st. Finally, Stifel Nicolaus cut their target price on shares of Harley-Davidson from $54.00 to $49.00 and set a “hold” rating on the stock in a report on Wednesday, January 31st. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $52.00.
In other Harley-Davidson news, VP Paul J. Jones sold 870 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $47.62, for a total transaction of $41,429.40. Following the completion of the transaction, the vice president now owns 3,399 shares of the company’s stock, valued at $161,860.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Tchernavia Rocker sold 1,401 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $47.74, for a total value of $66,883.74. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
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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