Comerica Bank Cuts Stake in Harley-Davidson, Inc. $HOG

Key Points

• Comerica Bank reduced its stake in Harley-Davidson, Inc. by 34.3% during the first quarter, leaving them with 34,792 shares valued at approximately $878,000.
• Several institutional investors increased their holdings, with Donald Smith & CO. Inc. boosting its position by 104%, acquiring an additional 1,738,017 shares worth $86,095,000.
• Harley-Davidson reported a net margin of 5.76% and a revenue decrease of 19.3% year-over-year, missing earnings estimates but posting a quarterly revenue of $1.31 billion.

Comerica Bank reduced its stake in Harley-Davidson, Inc. (NYSE:HOG - Free Report) by 34.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 34,792 shares of the company's stock after selling 18,184 shares during the quarter. Comerica Bank's holdings in Harley-Davidson were worth $878,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HOG. Donald Smith & CO. Inc. boosted its holdings in shares of Harley-Davidson by 104.0% in the 1st quarter. Donald Smith & CO. Inc. now owns 3,409,696 shares of the company's stock worth $86,095,000 after buying an additional 1,738,017 shares during the last quarter. Brickwood Asset Management LLP purchased a new position in shares of Harley-Davidson in the 4th quarter worth about $27,783,000. Nuveen LLC purchased a new position in shares of Harley-Davidson in the 1st quarter worth about $9,564,000. American Century Companies Inc. boosted its holdings in shares of Harley-Davidson by 7.7% in the 1st quarter. American Century Companies Inc. now owns 3,766,421 shares of the company's stock worth $95,102,000 after buying an additional 269,842 shares during the last quarter. Finally, Jump Financial LLC boosted its holdings in shares of Harley-Davidson by 480.6% in the 1st quarter. Jump Financial LLC now owns 294,371 shares of the company's stock worth $7,433,000 after buying an additional 243,671 shares during the last quarter. 85.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Harley-Davidson

In related news, Director Rafeh Masood purchased 2,068 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average cost of $24.06 per share, for a total transaction of $49,756.08. Following the completion of the transaction, the director directly owned 4,705 shares in the company, valued at approximately $113,202.30. This represents a 78.42% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.93% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on HOG. Zacks Research raised shares of Harley-Davidson from a "strong sell" rating to a "hold" rating in a report on Monday, August 25th. DA Davidson boosted their price objective on Harley-Davidson from $31.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, August 25th. Citigroup boosted their price objective on Harley-Davidson from $24.00 to $27.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. UBS Group lowered their price objective on Harley-Davidson from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 8th. Finally, Robert W. Baird boosted their price objective on Harley-Davidson from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $30.86.

Harley-Davidson Trading Down 0.1%

Shares of HOG opened at $30.17 on Friday. The business's 50-day moving average price is $25.91 and its 200-day moving average price is $24.85. Harley-Davidson, Inc. has a twelve month low of $20.45 and a twelve month high of $39.93. The stock has a market cap of $3.67 billion, a PE ratio of 15.63, a P/E/G ratio of 0.43 and a beta of 1.31. The company has a quick ratio of 1.20, a current ratio of 1.37 and a debt-to-equity ratio of 1.32.

Harley-Davidson (NYSE:HOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.11). Harley-Davidson had a net margin of 5.76% and a return on equity of 7.43%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the company earned $1.63 earnings per share. The company's quarterly revenue was down 19.3% on a year-over-year basis. On average, equities analysts forecast that Harley-Davidson, Inc. will post 3.44 EPS for the current fiscal year.

Harley-Davidson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, September 10th. This represents a $0.72 annualized dividend and a dividend yield of 2.4%. Harley-Davidson's dividend payout ratio is currently 37.31%.

Harley-Davidson 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.

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