SG Americas Securities LLC Trims Stock Holdings in Harley-Davidson, Inc. $HOG

Key Points

• SG Americas Securities LLC sharply reduced its Harley-Davidson stake by 88.3% in the first quarter, selling 966,075 shares and leaving it with 128,044 shares worth about $2.59 million.
• Harley-Davidson reported mixed quarterly results: earnings of $0.22 per share missed expectations, but revenue came in at $1.17 billion, above analysts’ estimates despite being down 11.7% year over year.
• The company continues to pay a 3.1% dividend yield and has seen several analyst updates, with the stock currently carrying an average “Hold” rating and a mean price target of $24.22.

SG Americas Securities LLC decreased its holdings in shares of Harley-Davidson, Inc. (NYSE:HOG - Free Report) by 88.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,044 shares of the company's stock after selling 966,075 shares during the quarter. SG Americas Securities LLC owned about 0.12% of Harley-Davidson worth $2,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of 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 valued at $2,183,000 after purchasing an additional 33,097 shares in the last quarter. Empowered Funds LLC lifted its holdings in Harley-Davidson by 18.3% during the 1st quarter. Empowered Funds LLC now owns 17,560 shares of the company's stock worth $443,000 after purchasing an additional 2,712 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in 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 purchasing an additional 1,278 shares during the period. Federated Hermes Inc. boosted its stake in Harley-Davidson by 32.8% in the 2nd quarter. Federated Hermes Inc. now owns 16,076 shares of the company's stock worth $379,000 after purchasing an additional 3,967 shares during the period. Finally, California Public Employees Retirement System grew its holdings in Harley-Davidson by 12.0% during the 2nd quarter. California Public Employees Retirement System now owns 204,156 shares of the company's stock valued at $4,818,000 after buying an additional 21,913 shares in the last quarter. Hedge funds and other institutional investors own 85.10% of the company's stock.

Harley-Davidson Stock Up 1.0%

Shares of NYSE HOG opened at $24.46 on Wednesday. Harley-Davidson, Inc. has a 12 month low of $17.09 and a 12 month high of $31.25. The company has a current ratio of 1.91, a quick ratio of 1.66 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 14.71 and a beta of 1.26. The business has a 50-day moving average of $24.56 and a 200-day moving average of $21.75.

Harley-Davidson (NYSE:HOG - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.12). Harley-Davidson had a net margin of 5.68% and a return on equity of 7.03%. The company had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the business earned $1.07 earnings per share. The company's revenue for the quarter was down 11.7% compared to the same quarter last year. Sell-side analysts expect that Harley-Davidson, Inc. will post 0.39 earnings per share for the current fiscal year.

Harley-Davidson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 8th were given a dividend of $0.1875 per share. The ex-dividend date was Monday, June 8th. This represents a $0.75 annualized dividend and a dividend yield of 3.1%. Harley-Davidson's dividend payout ratio (DPR) is 42.61%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup increased their price target on shares of Harley-Davidson from $23.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Wolfe Research reaffirmed an "outperform" rating on shares of Harley-Davidson in a research note on Monday, June 15th. Wells Fargo & Company boosted their price objective on shares of Harley-Davidson from $15.00 to $19.00 and gave the company an "underweight" rating in a research note on Wednesday, May 6th. UBS Group upped their target price on shares of Harley-Davidson from $19.00 to $26.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Finally, Robert W. Baird set a $28.00 target price on shares of Harley-Davidson in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $24.22.

Insider Buying and Selling at Harley-Davidson

In other news, insider Paul J. Krause sold 1,564 shares of Harley-Davidson stock in a transaction on Monday, May 11th. The shares were sold at an average price of $26.00, for a total transaction of $40,664.00. Following the completion of the sale, the insider directly owned 30,012 shares of the company's stock, valued at approximately $780,312. The trade was a 4.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jonathan R. Root sold 1,554 shares of the company's stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $24.21, for a total transaction of $37,622.34. Following the completion of the transaction, the chief financial officer owned 32,508 shares of the company's stock, valued at $787,018.68. This trade represents a 4.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.97% of the company's stock.

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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