Harley-Davidson, Inc. $HOG Position Lifted by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase increased its stake in Harley-Davidson by 25.1% in Q3 to 438,568 shares (about 0.36% of the company), as institutional investors now own roughly 85.1% of HOG.
• Harley-Davidson reported a large quarterly EPS miss—loss of $2.44 vs. -$0.92 expected—with revenue down 9.8% year-over-year; the stock trades near $19.12, has a $2.14B market cap, and the company raised its quarterly dividend to $0.1875 (3.9% yield).
• Analyst sentiment is mixed (consensus rating: Hold, average price target $22.50), and insiders made offsetting moves recently (one director sold shares while another bought), leaving insider ownership around 0.93%.

JPMorgan Chase & Co. grew its stake in shares of Harley-Davidson, Inc. (NYSE:HOG - Free Report) by 25.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 438,568 shares of the company's stock after acquiring an additional 88,100 shares during the period. JPMorgan Chase & Co. owned about 0.36% of Harley-Davidson worth $12,236,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Harley-Davidson by 62.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,436 shares of the company's stock worth $2,183,000 after purchasing an additional 33,097 shares in the last quarter. Empowered Funds LLC grew its position in shares of Harley-Davidson by 18.3% in the 1st quarter. Empowered Funds LLC now owns 17,560 shares of the company's stock worth $443,000 after acquiring an additional 2,712 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Harley-Davidson by 153.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,109 shares of the company's stock worth $53,000 after acquiring an additional 1,278 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Harley-Davidson by 191.5% in the 2nd quarter. Assetmark Inc. now owns 3,069 shares of the company's stock valued at $72,000 after acquiring an additional 2,016 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Harley-Davidson by 30.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,838,532 shares of the company's stock valued at $43,389,000 after acquiring an additional 426,808 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 stock opened at $19.12 on Friday. Harley-Davidson, Inc. has a 12-month low of $17.11 and a 12-month high of $31.25. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.10 and a quick ratio of 1.83. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 7.33 and a beta of 1.42. The business has a 50 day simple moving average of $20.17 and a 200 day simple moving average of $24.14.

Harley-Davidson (NYSE:HOG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.92) by ($1.52). The business had revenue of $496.16 million for the quarter, compared to analyst estimates of $482.21 million. Harley-Davidson had a return on equity of 10.27% and a net margin of 8.03%.The company's revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.93) EPS. On average, equities research analysts anticipate that Harley-Davidson, Inc. will post 3.44 EPS for the current year.

Harley-Davidson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Harley-Davidson's previous quarterly dividend of $0.18. Harley-Davidson's dividend payout ratio is 28.74%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on HOG shares. Argus upgraded shares of Harley-Davidson to a "strong-buy" rating in a research note on Tuesday, February 17th. BMO Capital Markets reaffirmed an "outperform" rating and set a $24.00 price objective on shares of Harley-Davidson in a research report on Wednesday, February 11th. UBS Group dropped their price objective on shares of Harley-Davidson from $27.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday. Loop Capital assumed coverage on Harley-Davidson in a research note on Tuesday, November 25th. They issued a "hold" rating and a $21.00 target price for the company. Finally, Zacks Research cut Harley-Davidson from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $22.50.

Insider Transactions at Harley-Davidson

In related news, Director James D. Farley, Jr. sold 6,454 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $18.71, for a total transaction of $120,754.34. Following the transaction, the director owned 16,205 shares in the company, valued at $303,195.55. This trade represents a 28.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rafeh Masood bought 2,775 shares of the business's stock in a transaction on Friday, February 27th. The stock was purchased at an average price of $18.00 per share, with a total value of $49,950.00. Following the completion of the transaction, the director directly owned 7,480 shares of the company's stock, valued at $134,640. This trade represents a 58.98% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.93% of the stock is currently owned by 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.

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