Summit Investment Advisors Inc. Sells 1,350 Shares of Harley-Davidson, Inc. (NYSE:HOG)

Summit Investment Advisors Inc. lowered its holdings in Harley-Davidson, Inc. (NYSE:HOG) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,953 shares of the company’s stock after selling 1,350 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Harley-Davidson were worth $1,505,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Sterling Capital Management LLC raised its stake in Harley-Davidson by 57.6% in the fourth quarter. Sterling Capital Management LLC now owns 7,273 shares of the company’s stock worth $219,000 after buying an additional 2,659 shares in the last quarter. Covestor Ltd lifted its stake in shares of Harley-Davidson by 18.8% during the 4th quarter. Covestor Ltd now owns 4,163 shares of the company’s stock worth $125,000 after purchasing an additional 658 shares during the last quarter. LSV Asset Management boosted its position in Harley-Davidson by 0.4% during the fourth quarter. LSV Asset Management now owns 5,498,635 shares of the company’s stock valued at $165,674,000 after purchasing an additional 19,453 shares in the last quarter. Bessemer Group Inc. grew its stake in Harley-Davidson by 237.9% in the fourth quarter. Bessemer Group Inc. now owns 1,301 shares of the company’s stock valued at $39,000 after purchasing an additional 916 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Harley-Davidson in the fourth quarter worth about $18,802,000. Hedge funds and other institutional investors own 85.10% of the company’s stock.

Insider Activity at Harley-Davidson

In other Harley-Davidson news, insider Luke Christopher Mansfield sold 3,400 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $25.96, for a total transaction of $88,264.00. Following the transaction, the insider now owns 23,555 shares in the company, valued at approximately $611,487.80. This represents a 12.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on HOG shares. Morgan Stanley cut their price objective on shares of Harley-Davidson from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Bank of America decreased their price objective on Harley-Davidson from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, January 30th. DA Davidson restated a “buy” rating and set a $31.00 target price on shares of Harley-Davidson in a research note on Wednesday, April 9th. Citigroup decreased their price target on Harley-Davidson from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Finally, Robert W. Baird dropped their price target on Harley-Davidson from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, April 4th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Harley-Davidson presently has a consensus rating of “Hold” and a consensus target price of $32.00.

Harley-Davidson Price Performance

NYSE:HOG opened at $21.87 on Thursday. The firm’s fifty day moving average is $24.87 and its two-hundred day moving average is $29.39. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 6.57, a PEG ratio of 0.38 and a beta of 1.28. Harley-Davidson, Inc. has a one year low of $20.45 and a one year high of $40.14. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.19 and a current ratio of 1.40.

Harley-Davidson (NYSE:HOG) last announced its quarterly earnings results on Wednesday, February 5th. The company reported ($0.93) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.28). Harley-Davidson had a net margin of 9.25% and a return on equity of 13.64%. During the same period in the previous year, the firm earned $0.18 EPS. Research analysts expect that Harley-Davidson, Inc. will post 3.44 EPS for the current year.

Harley-Davidson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, February 28th. This is an increase from Harley-Davidson’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 3.29%. Harley-Davidson’s dividend payout ratio is 21.62%.

About Harley-Davidson

Harley-Davidson, Inc manufactures and sells motorcycles in the United States and internationally. The company operates in three segments: Harley-Davidson Motor Company, LiveWire, and Harley-Davidson Financial Services. The Harley-Davidson Motor Company segment designs, manufactures, and sells motorcycles, including cruiser, trike, touring, standard, sportbike, adventure, and dual sport, as well as motorcycle parts, accessories, and apparel, as well as licenses its trademarks and related services.