Arizona State Retirement System Cuts Holdings in Harley-Davidson Inc (HOG)

Arizona State Retirement System cut its holdings in shares of Harley-Davidson Inc (NYSE:HOG) by 47.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 42,639 shares of the company’s stock after selling 39,030 shares during the quarter. Arizona State Retirement System’s holdings in Harley-Davidson were worth $2,169,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can lifted its position in Harley-Davidson by 17.6% during the 4th quarter. Bank of Montreal Can now owns 85,556 shares of the company’s stock valued at $4,353,000 after purchasing an additional 12,807 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Harley-Davidson by 11.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 25,591 shares of the company’s stock valued at $1,233,000 after purchasing an additional 2,659 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in Harley-Davidson by 26.1% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 207,559 shares of the company’s stock valued at $10,006,000 after purchasing an additional 42,983 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Harley-Davidson by 27.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,129,738 shares of the company’s stock valued at $54,465,000 after purchasing an additional 245,139 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Harley-Davidson by 2.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 181,868 shares of the company’s stock valued at $9,254,000 after purchasing an additional 4,026 shares during the period. Institutional investors own 95.87% of the company’s stock.

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A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Harley-Davidson from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Tuesday, January 2nd. ValuEngine downgraded shares of Harley-Davidson from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Longbow Research cut Harley-Davidson from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 3rd. Citigroup lowered their price target on Harley-Davidson from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Finally, Wedbush lowered their price target on Harley-Davidson to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.00.

In related news, VP Tchernavia Rocker sold 1,401 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $47.74, for a total transaction of $66,883.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paul J. Jones sold 870 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $47.62, for a total value of $41,429.40. Following the sale, the vice president now directly owns 3,399 shares of the company’s stock, valued at $161,860.38. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

Shares of Harley-Davidson Inc (NYSE:HOG) opened at $44.35 on Friday. Harley-Davidson Inc has a 52 week low of $43.40 and a 52 week high of $63.40. The company has a debt-to-equity ratio of 2.49, a quick ratio of 1.06 and a current ratio of 1.23. The stock has a market capitalization of $7,470.00, a P/E ratio of 13.48, a P/E/G ratio of 1.46 and a beta of 0.86.

Harley-Davidson (NYSE:HOG) last posted its earnings results on Tuesday, January 30th. The company reported $0.54 earnings per share (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 business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the business earned $0.27 EPS. Harley-Davidson’s revenue for the quarter was up 12.2% compared to the same quarter last year. analysts anticipate that Harley-Davidson Inc will post 3.77 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Wednesday, February 14th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.34%. This is a boost from Harley-Davidson’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, February 13th. Harley-Davidson’s dividend payout ratio is presently 44.98%.

Harley-Davidson declared that its Board of Directors has authorized a stock repurchase program on Monday, February 5th that allows the company to buyback 15,000,000 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

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About Harley-Davidson

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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Institutional Ownership by Quarter for Harley-Davidson (NYSE:HOG)

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