Louisiana State Employees Retirement System Buys 2,900 Shares of Harley-Davidson, Inc. (NYSE:HOG)

Posted by Defense World Staff on Oct 4th, 2023

Louisiana State Employees Retirement System raised its stake in Harley-Davidson, Inc. (NYSE:HOG – Free Report) by 8.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 38,200 shares of the company’s stock after purchasing an additional 2,900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Harley-Davidson were worth $1,345,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in Harley-Davidson in the first quarter valued at approximately $31,000. Ameritas Advisory Services LLC bought a new stake in Harley-Davidson in the first quarter valued at approximately $34,000. Global Retirement Partners LLC lifted its position in Harley-Davidson by 10,090.9% in the first quarter. Global Retirement Partners LLC now owns 1,121 shares of the company’s stock valued at $40,000 after purchasing an additional 1,110 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in Harley-Davidson in the first quarter valued at approximately $42,000. Finally, Machina Capital S.A.S. bought a new stake in Harley-Davidson in the first quarter valued at approximately $49,000. Institutional investors own 82.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Robert W. Baird boosted their price objective on Harley-Davidson from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. UBS Group decreased their target price on Harley-Davidson from $49.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, July 13th. 3M restated a “maintains” rating on shares of Harley-Davidson in a report on Monday, June 12th. Citigroup decreased their target price on Harley-Davidson from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, September 8th. Finally, DA Davidson upgraded Harley-Davidson from a “neutral” rating to a “buy” rating and upped their target price for the company from $38.00 to $47.00 in a report on Friday, July 21st. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $45.43.

View Our Latest Stock Report on HOG

Harley-Davidson Trading Down 1.9 %

NYSE HOG opened at $31.69 on Wednesday. Harley-Davidson, Inc. has a 12 month low of $30.85 and a 12 month high of $51.77. The stock has a market cap of $4.49 billion, a P/E ratio of 5.96, a P/E/G ratio of 1.51 and a beta of 1.39. The stock’s fifty day moving average price is $34.24 and its 200-day moving average price is $34.97. The company has a current ratio of 2.03, a quick ratio of 1.69 and a debt-to-equity ratio of 1.81.

Harley-Davidson (NYSE:HOG – Get Free Report) last released its earnings results on Thursday, July 27th. The company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.18). Harley-Davidson had a return on equity of 26.10% and a net margin of 13.03%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company posted $1.46 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. As a group, equities analysts forecast that Harley-Davidson, Inc. will post 4.58 EPS for the current fiscal year.

Harley-Davidson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 27th. Stockholders of record on Tuesday, September 12th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Monday, September 11th. Harley-Davidson’s payout ratio is currently 12.41%.

Harley-Davidson declared that its Board of Directors has initiated a stock repurchase program on Wednesday, September 6th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other Harley-Davidson news, Director Rafeh Masood purchased 1,302 shares of the stock in a transaction dated Tuesday, August 1st. The shares were purchased at an average cost of $38.40 per share, with a total value of $49,996.80. Following the completion of the acquisition, the director now directly owns 2,637 shares in the company, valued at approximately $101,260.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.69% of the company’s stock.

About Harley-Davidson

(Free Report)

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, and dual models, as well as motorcycle parts, accessories, and apparel, as well as licenses its trademarks and related services.