Janney Montgomery Scott LLC Increases Stock Holdings in Harley-Davidson, Inc. (NYSE:HOG)

Posted by Defense World Staff on Oct 24th, 2023

Janney Montgomery Scott LLC grew its position in Harley-Davidson, Inc. (NYSE:HOG – Free Report) by 44.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,907 shares of the company’s stock after buying an additional 11,127 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Harley-Davidson were worth $1,264,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC increased its position in Harley-Davidson by 10,090.9% during the 1st quarter. Global Retirement Partners LLC now owns 1,121 shares of the company’s stock worth $40,000 after purchasing an additional 1,110 shares in the last quarter. Commerce Bank increased its position in Harley-Davidson by 5.0% during the 1st quarter. Commerce Bank now owns 13,654 shares of the company’s stock worth $518,000 after purchasing an additional 653 shares in the last quarter. Guggenheim Capital LLC increased its position in Harley-Davidson by 65.5% during the 1st quarter. Guggenheim Capital LLC now owns 15,116 shares of the company’s stock worth $574,000 after purchasing an additional 5,983 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in Harley-Davidson by 11.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,506 shares of the company’s stock worth $247,000 after purchasing an additional 673 shares in the last quarter. Finally, Twelve Points Wealth Management LLC increased its position in Harley-Davidson by 12.5% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 31,468 shares of the company’s stock worth $1,108,000 after purchasing an additional 3,502 shares in the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.

Analyst Upgrades and Downgrades

HOG has been the subject of a number of recent research reports. UBS Group dropped their price objective on Harley-Davidson from $49.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, July 13th. DA Davidson upgraded Harley-Davidson from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $38.00 to $47.00 in a research report on Friday, July 21st. Citigroup dropped their price objective on Harley-Davidson from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, October 10th. StockNews.com initiated coverage on Harley-Davidson in a report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Robert W. Baird lifted their price target on Harley-Davidson from $46.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Harley-Davidson currently has a consensus rating of “Hold” and an average target price of $44.86.

Check Out Our Latest Research Report on HOG

Harley-Davidson Stock Performance

NYSE HOG opened at $29.77 on Tuesday. The firm has a market capitalization of $4.22 billion, a P/E ratio of 5.60, a P/E/G ratio of 1.37 and a beta of 1.39. Harley-Davidson, Inc. has a 1-year low of $29.46 and a 1-year high of $51.77. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.03 and a quick ratio of 1.69. The business’s 50-day simple moving average is $32.43 and its 200-day simple moving average is $34.30.

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

Harley-Davidson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 27th. Stockholders of record on Tuesday, September 12th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, September 11th. Harley-Davidson’s dividend payout ratio is currently 12.41%.

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

Insider Activity

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

Harley-Davidson Profile

(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.