New York State Teachers Retirement System Lowers Position in Harley-Davidson, Inc. $HOG

New York State Teachers Retirement System lessened its stake in Harley-Davidson, Inc. (NYSE:HOG) by 22.8% during the first quarter, Holdings Channel reports. The firm owned 84,144 shares of the company’s stock after selling 24,851 shares during the period. New York State Teachers Retirement System’s holdings in Harley-Davidson were worth $1,701,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of HOG. Donald Smith & CO. Inc. lifted its stake in Harley-Davidson by 30.8% during the 4th quarter. Donald Smith & CO. Inc. now owns 8,899,204 shares of the company’s stock valued at $182,345,000 after acquiring an additional 2,095,477 shares in the last quarter. Boston Partners grew its stake in shares of Harley-Davidson by 2.1% in the 3rd quarter. Boston Partners now owns 4,021,078 shares of the company’s stock worth $112,179,000 after acquiring an additional 84,516 shares in the last quarter. State Street Corp raised its holdings in shares of Harley-Davidson by 1.7% in the second quarter. State Street Corp now owns 3,757,709 shares of the company’s stock valued at $88,682,000 after purchasing an additional 64,118 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Harley-Davidson by 3.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,946,790 shares of the company’s stock valued at $39,890,000 after purchasing an additional 69,231 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Harley-Davidson during the fourth quarter valued at about $25,766,000. Hedge funds and other institutional investors own 85.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HOG. Zacks Research raised shares of Harley-Davidson from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Griffin Securities set a $30.00 target price on shares of Harley-Davidson in a research report on Monday, July 6th. Weiss Ratings upgraded Harley-Davidson from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Wolfe Research reaffirmed an “outperform” rating on shares of Harley-Davidson in a report on Monday, June 15th. Finally, DA Davidson increased their price target on Harley-Davidson from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $24.33.

Harley-Davidson Stock Performance

HOG traded up $0.31 during trading on Friday, hitting $25.16. 2,026,260 shares of the company traded hands, compared to its average volume of 2,729,681. Harley-Davidson, Inc. has a one year low of $17.09 and a one year high of $31.25. The stock’s fifty day moving average is $24.82 and its 200 day moving average is $21.95. The company has a quick ratio of 1.66, a current ratio of 1.91 and a debt-to-equity ratio of 0.37. The firm has a market cap of $2.65 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 14.98 and a beta of 1.26.

Harley-Davidson (NYSE:HOG) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.12). Harley-Davidson had a return on equity of 7.03% and a net margin of 5.68%.The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm posted $1.07 EPS. The business’s revenue was down 11.7% on a year-over-year basis. As a group, equities analysts predict that Harley-Davidson, Inc. will post 0.4 EPS for the current fiscal year.

Harley-Davidson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 8th were issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, June 8th. Harley-Davidson’s payout ratio is 42.61%.

Insider Activity at Harley-Davidson

In related news, CFO Jonathan R. Root sold 1,554 shares of Harley-Davidson stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $24.44, for a total value of $37,979.76. Following the completion of the sale, the chief financial officer owned 29,400 shares of the company’s stock, valued at approximately $718,536. This trade represents a 5.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul J. Krause sold 1,564 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $26.00, for a total value of $40,664.00. Following the completion of the sale, the insider owned 30,012 shares in the company, valued at $780,312. This represents a 4.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 4,672 shares of company stock worth $116,266. 0.97% of the stock is owned by company insiders.

Harley-Davidson Company Profile

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.