Hsbc Holdings PLC Decreases Position in Harley-Davidson, Inc. (NYSE:HOG)

Posted by Defense World Staff on Feb 26th, 2023

Hsbc Holdings PLC cut its stake in shares of Harley-Davidson, Inc. (NYSE:HOG – Get Rating) by 50.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,124 shares of the company’s stock after selling 128,585 shares during the period. Hsbc Holdings PLC owned 0.09% of Harley-Davidson worth $4,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Capital Management LLC purchased a new stake in shares of Harley-Davidson in the third quarter worth approximately $26,000. Lazard Asset Management LLC purchased a new stake in shares of Harley-Davidson in the first quarter worth approximately $31,000. Ellevest Inc. raised its holdings in shares of Harley-Davidson by 327.2% in the third quarter. Ellevest Inc. now owns 1,115 shares of the company’s stock worth $39,000 after buying an additional 854 shares during the period. Brown Brothers Harriman & Co. raised its holdings in shares of Harley-Davidson by 1,144.1% in the first quarter. Brown Brothers Harriman & Co. now owns 1,381 shares of the company’s stock worth $54,000 after buying an additional 1,270 shares during the period. Finally, Covestor Ltd raised its holdings in shares of Harley-Davidson by 74.7% in the first quarter. Covestor Ltd now owns 1,660 shares of the company’s stock worth $65,000 after buying an additional 710 shares during the period. 83.96% of the stock is currently owned by hedge funds and other institutional investors.

Harley-Davidson Stock Down 1.6 %

Shares of NYSE HOG opened at $46.78 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.08 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $6.84 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 1.67 and a beta of 1.41. The stock’s fifty day simple moving average is $45.14 and its two-hundred day simple moving average is $42.81. Harley-Davidson, Inc. has a 12-month low of $29.80 and a 12-month high of $51.77.

Harley-Davidson (NYSE:HOG – Get Rating) last announced its earnings results on Thursday, February 2nd. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.21. The business had revenue of $918.70 million for the quarter, compared to analysts’ expectations of $910.04 million. Harley-Davidson had a return on equity of 27.23% and a net margin of 13.35%. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 EPS. As a group, analysts expect that Harley-Davidson, Inc. will post 4.66 EPS for the current fiscal year.

Harley-Davidson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 20th. Stockholders of record on Friday, March 3rd will be given a $0.165 dividend. This is a boost from Harley-Davidson’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.41%. Harley-Davidson’s dividend payout ratio (DPR) is presently 12.68%.

Wall Street Analysts Forecast Growth

HOG has been the topic of several research reports. StockNews.com downgraded Harley-Davidson from a “buy” rating to a “hold” rating in a report on Friday, January 20th. Citigroup set a $49.00 price objective on Harley-Davidson in a report on Wednesday, November 23rd. Jefferies Financial Group initiated coverage on Harley-Davidson in a report on Tuesday, November 15th. They set an “underperform” rating and a $39.00 price objective on the stock. DA Davidson raised their price objective on Harley-Davidson from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, February 6th. Finally, Morgan Stanley raised their price objective on Harley-Davidson from $43.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Harley-Davidson has a consensus rating of “Hold” and an average target price of $49.13.

Insider Transactions at Harley-Davidson

In other news, SVP Jonathan R. Root sold 2,239 shares of the firm’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $50.17, for a total value of $112,330.63. Following the completion of the sale, the senior vice president now owns 5,474 shares of the company’s stock, valued at approximately $274,630.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.60% of the company’s stock.

Harley-Davidson Company Profile

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Harley-Davidson, Inc is engaged in the manufacture and sale of custom, cruiser, and touring motorcycles. It operates through the following segments: Motorcycles & Related Products and Financial Services. The Motorcycles & Related Products segment manufactures, designs, and sells at wholesale on-road Harley-Davidson motorcycles as well as motorcycle parts, accessories, general merchandise, and related services.