Westpac Banking Corp Cuts Holdings in Harley-Davidson, Inc. (HOG)
Westpac Banking Corp cut its stake in shares of Harley-Davidson, Inc. (NYSE:HOG) by 14.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,808 shares of the company’s stock after selling 19,775 shares during the period. Westpac Banking Corp owned 0.07% of Harley-Davidson worth $6,256,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Contravisory Investment Management Inc. raised its position in shares of Harley-Davidson by 1.7% in the second quarter. Contravisory Investment Management Inc. now owns 4,291 shares of the company’s stock valued at $232,000 after buying an additional 72 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Harley-Davidson by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 10,900 shares of the company’s stock valued at $589,000 after buying an additional 100 shares in the last quarter. Annex Advisory Services LLC raised its position in shares of Harley-Davidson by 2.5% in the second quarter. Annex Advisory Services LLC now owns 4,114 shares of the company’s stock valued at $222,000 after buying an additional 102 shares in the last quarter. First Business Financial Services Inc. raised its position in shares of Harley-Davidson by 1.2% in the first quarter. First Business Financial Services Inc. now owns 8,907 shares of the company’s stock valued at $539,000 after buying an additional 107 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Harley-Davidson by 3.3% in the first quarter. Pacer Advisors Inc. now owns 3,698 shares of the company’s stock valued at $224,000 after buying an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 91.06% of the company’s stock.
Harley-Davidson, Inc. (NYSE HOG) opened at 47.37 on Monday. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 13.87 and a beta of 0.86. Harley-Davidson, Inc. has a 12-month low of $46.00 and a 12-month high of $63.40. The company has a 50-day moving average of $48.13 and a 200 day moving average of $54.38.
Harley-Davidson (NYSE:HOG) last announced its quarterly earnings results on Tuesday, July 18th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.10. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Harley-Davidson had a net margin of 12.30% and a return on equity of 30.51%. The company’s revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 EPS. Equities analysts expect that Harley-Davidson, Inc. will post $3.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 12th will be issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Monday, September 11th. Harley-Davidson’s dividend payout ratio (DPR) is presently 42.44%.
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In other Harley-Davidson news, insider Lawrence G. Hund sold 15,013 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $47.18, for a total value of $708,313.34. Following the sale, the insider now owns 23,673 shares of the company’s stock, valued at approximately $1,116,892.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Harley-Davidson from a “sell” rating to a “hold” rating in a research report on Friday, July 7th. Sandler O’Neill downgraded shares of Harley-Davidson from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $62.00 to $55.00 in a research report on Wednesday, July 12th. BidaskClub downgraded shares of Harley-Davidson from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. ValuEngine upgraded shares of Harley-Davidson from a “hold” rating to a “buy” rating in a research report on Friday, July 7th. Finally, Tigress Financial restated a “buy” rating on shares of Harley-Davidson in a research report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and four have issued a buy rating to the company. Harley-Davidson has an average rating of “Hold” and an average price target of $55.06.
Harley-Davidson, Inc is the parent company for the groups of companies doing business as Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). The Company operates in two segments: the Motorcycles & Related Products (Motorcycles) and the Financial Services. The Motorcycles segment consists of HDMC, which designs, manufactures and sells at wholesale on-road Harley-Davidson motorcycles, as well as motorcycle parts, accessories, general merchandise and related services.
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