Harley-Davidson, Inc. (NYSE:HOG) Stake Reduced by Truist Financial Corp

Truist Financial Corp trimmed its stake in Harley-Davidson, Inc. (NYSE:HOG) by 3.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 8,931 shares of the company’s stock after selling 292 shares during the quarter. Truist Financial Corp’s holdings in Harley-Davidson were worth $300,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Harley-Davidson by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 13,428,716 shares of the company’s stock valued at $587,372,000 after purchasing an additional 452,536 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Harley-Davidson by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,248,512 shares of the company’s stock valued at $209,576,000 after buying an additional 708,260 shares during the last quarter. LSV Asset Management boosted its position in shares of Harley-Davidson by 17.3% during the second quarter. LSV Asset Management now owns 5,705,775 shares of the company’s stock worth $191,372,000 after buying an additional 842,407 shares during the period. American Century Companies Inc. grew its holdings in Harley-Davidson by 42.8% in the 2nd quarter. American Century Companies Inc. now owns 2,263,919 shares of the company’s stock worth $75,932,000 after buying an additional 678,092 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in Harley-Davidson by 4.6% in the 2nd quarter. Raymond James & Associates now owns 616,275 shares of the company’s stock worth $20,670,000 after buying an additional 27,364 shares in the last quarter. Institutional investors and hedge funds own 85.10% of the company’s stock.

Harley-Davidson Stock Performance

Shares of HOG opened at $36.22 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.50 and a quick ratio of 1.32. The firm’s 50 day moving average is $36.79 and its 200-day moving average is $36.10. Harley-Davidson, Inc. has a 12-month low of $25.43 and a 12-month high of $44.16. The stock has a market capitalization of $4.87 billion, a P/E ratio of 8.05, a P/E/G ratio of 1.28 and a beta of 1.44.

Harley-Davidson (NYSE:HOG) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.23. Harley-Davidson had a net margin of 11.92% and a return on equity of 20.33%. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the business posted $1.22 earnings per share. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities research analysts anticipate that Harley-Davidson, Inc. will post 4.19 EPS for the current fiscal year.

Harley-Davidson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were given a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Monday, September 16th. Harley-Davidson’s dividend payout ratio (DPR) is presently 15.33%.

Harley-Davidson announced that its board has initiated a stock buyback program on Thursday, July 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 19.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

HOG has been the subject of a number of analyst reports. Baird R W lowered Harley-Davidson from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America reduced their price objective on shares of Harley-Davidson from $50.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday. Citigroup raised their target price on shares of Harley-Davidson from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Robert W. Baird lowered shares of Harley-Davidson from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $44.00 to $40.00 in a research note on Wednesday, October 2nd. Finally, UBS Group raised their price objective on shares of Harley-Davidson from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Harley-Davidson has an average rating of “Moderate Buy” and a consensus target price of $44.00.

Harley-Davidson Company Profile

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.