Harley-Davidson (NYSE:HOG) CFO Sells $38,086.37 in Stock

Harley-Davidson, Inc. (NYSE:HOG) CFO Jonathan Root sold 1,559 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $24.43, for a total transaction of $38,086.37. Following the completion of the sale, the chief financial officer directly owned 24,733 shares of the company’s stock, valued at $604,227.19. The trade was a 5.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Harley-Davidson Stock Performance

Shares of HOG opened at $26.87 on Thursday. The firm’s 50 day moving average is $26.66 and its 200-day moving average is $24.93. The stock has a market capitalization of $2.80 billion, a P/E ratio of 16.48, a P/E/G ratio of 8.85 and a beta of 1.30. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.90 and a quick ratio of 1.70. Harley-Davidson, Inc. has a 12-month low of $17.09 and a 12-month high of $28.86.

Harley-Davidson (NYSE:HOG) last released its earnings results on Thursday, July 23rd. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.10. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.17 billion. Harley-Davidson had a net margin of 4.78% and a return on equity of 6.28%. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. Equities research analysts anticipate that Harley-Davidson, Inc. will post 0.56 EPS for the current fiscal year.

Harley-Davidson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, September 15th. Harley-Davidson’s dividend payout ratio is 46.01%.

More Harley-Davidson News

Here are the key news stories impacting Harley-Davidson this week:

• Positive Sentiment: Citigroup upgraded HOG to Buy from Neutral and raised its price target to $33 from $31. Citi cited improving retail sales, better dealer sentiment and the potential for a “multi-year retail growth story.” The target is above the broader analyst consensus of $28.20. Citigroup upgrades Harley-Davidson to Buy
• Positive Sentiment: Additional analyst upgrades have reinforced the bullish case. Bank of America, Citigroup and Barclays reportedly upgraded beaten-down stocks including Harley-Davidson ahead of third-quarter results expected in early November, increasing attention on HOG as a potential recovery candidate. Wall Street is betting these beaten-down stocks have more room to run
• Positive Sentiment: The company’s latest reported quarter exceeded expectations, with earnings of $0.75 per share versus a $0.65 consensus estimate and revenue of $1.23 billion versus $1.17 billion expected. This provides a supportive backdrop, although revenue still declined year over year. Harley-Davidson stock gained as Q2 beat estimates
• Neutral Sentiment: CFO Jonathan Root sold 1,559 shares worth approximately $38,000 under a pre-arranged Rule 10b5-1 trading plan. The transaction reduced his holdings by about 5.9%, but its planned nature and modest size limit its significance. Harley-Davidson CFO Form 4 filing
• Negative Sentiment: Investors still face execution risk: the prior quarter’s revenue fell 5.9% year over year, and Harley-Davidson must demonstrate that new products and stronger retail demand can reverse its recent sales pressure in the upcoming third-quarter results. Citi says Harley-Davidson has struggled in recent years

Institutional Trading of Harley-Davidson

A number of hedge funds have recently modified their holdings of the business. CX Institutional boosted its position in shares of Harley-Davidson by 62.4% in the third quarter. CX Institutional now owns 1,445 shares of the company’s stock worth $35,000 after buying an additional 555 shares during the period. Versant Capital Management Inc lifted its stake in Harley-Davidson by 40.1% in the 3rd quarter. Versant Capital Management Inc now owns 2,282 shares of the company’s stock worth $56,000 after acquiring an additional 653 shares in the last quarter. Engineers Gate Manager LP lifted its stake in Harley-Davidson by 294.6% in the 2nd quarter. Engineers Gate Manager LP now owns 99,046 shares of the company’s stock worth $2,423,000 after acquiring an additional 73,946 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Harley-Davidson during the 2nd quarter worth about $242,000. Finally, Allworth Financial LP boosted its position in Harley-Davidson by 98.5% during the 2nd quarter. Allworth Financial LP now owns 7,810 shares of the company’s stock worth $191,000 after acquiring an additional 3,876 shares during the period. Hedge funds and other institutional investors own 85.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on HOG shares. DA Davidson lifted their target price on Harley-Davidson from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Weiss Ratings upgraded Harley-Davidson from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. UBS Group lifted their price target on Harley-Davidson from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 2nd. Robert W. Baird boosted their price objective on Harley-Davidson from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Finally, Loop Capital raised shares of Harley-Davidson from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Harley-Davidson currently has an average rating of “Hold” and a consensus price target of $28.20.

Harley-Davidson Company Profile

Harley-Davidson, Inc is a motorcycle manufacturer headquartered in Milwaukee, Wisconsin. Founded in 1903, the company designs, manufactures and sells heavyweight motorcycles known for their cruiser, touring and adventure-touring models, as well as related parts, accessories, apparel and merchandise.

The company markets its products under the Harley-Davidson brand through a network of independent dealers and company-operated retail locations. Its offerings serve customers in the United States and international markets across Europe, Asia-Pacific, Canada and other regions.

Harley-Davidson also provides motorcycle financing and insurance-related services through Harley-Davidson Financial Services.