Harley-Davidson (NYSE:HOG) CFO Jonathan Root Sells 1,554 Shares of Stock

Key Points

• CFO Jonathan Root sold 1,554 Harley-Davidson shares for approximately $38,664 under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 5.29% to 27,846 shares.
• Harley-Davidson shares fell 1.1% to $26.21, while the company’s latest quarterly results exceeded expectations with $0.75 in earnings per share and $1.23 billion in revenue, despite a 5.9% year-over-year revenue decline.
• The company maintains a quarterly dividend of $0.1875 per share, equivalent to a 2.9% yield; analysts have a consensus “Hold” rating with a $26.11 target price.

Harley-Davidson, Inc. (NYSE:HOG - Get Free Report) CFO Jonathan Root sold 1,554 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $24.88, for a total value of $38,663.52. Following the transaction, the chief financial officer owned 27,846 shares of the company's stock, valued at $692,808.48. The trade was a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Harley-Davidson Trading Down 1.1%

Harley-Davidson stock traded down $0.30 during midday trading on Wednesday, hitting $26.21. 2,119,987 shares of the stock were exchanged, compared to its average volume of 3,225,305. The company has a fifty day simple moving average of $25.35 and a two-hundred day simple moving average of $22.57. Harley-Davidson, Inc. has a 52 week low of $17.09 and a 52 week high of $31.25. The stock has a market capitalization of $2.76 billion, a PE ratio of 16.08, a P/E/G ratio of 17.34 and a beta of 1.27. The company has a quick ratio of 1.70, a current ratio of 1.90 and a debt-to-equity ratio of 0.36.

Harley-Davidson (NYSE:HOG - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.10. Harley-Davidson had a net margin of 4.78% and a return on equity of 6.28%. The company had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same period last year, the firm posted $0.88 earnings per share. The business's quarterly revenue was down 5.9% compared to the same quarter last year. Equities research analysts anticipate that Harley-Davidson, Inc. will post 0.5 EPS for the current fiscal year.

Harley-Davidson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Monday, June 8th were issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, June 8th. Harley-Davidson's dividend payout ratio (DPR) is 46.01%.

Institutional Trading of Harley-Davidson

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Harley-Davidson during the 4th quarter worth about $25,766,000. Robinson Value Management Ltd. acquired a new stake in Harley-Davidson in the 1st quarter valued at about $3,215,000. Caxton Associates LLP bought a new position in Harley-Davidson during the first quarter worth about $957,000. Money Concepts Capital Corp bought a new stake in Harley-Davidson in the fourth quarter valued at approximately $1,317,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Harley-Davidson by 8.4% in the first quarter. Bank of New York Mellon Corp now owns 2,110,552 shares of the company's stock valued at $42,675,000 after buying an additional 163,762 shares during the last quarter. 85.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HOG. Zacks Research upgraded shares of Harley-Davidson from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. Citigroup boosted their price target on Harley-Davidson from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Sunday, July 12th. Morgan Stanley increased their price objective on Harley-Davidson from $15.00 to $17.00 and gave the stock an "underweight" rating in a report on Tuesday, July 28th. Wells Fargo & Company upped their price target on Harley-Davidson from $15.00 to $19.00 and gave the stock an "underweight" rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Harley-Davidson from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $26.11.

About Harley-Davidson

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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