Harley-Davidson Inc (HOG) to Issue Dividend Increase – $0.37 Per Share
Harley-Davidson Inc (NYSE:HOG) declared a quarterly dividend on Tuesday, February 6th, Fidelity reports. Investors of record on Wednesday, February 14th will be given a dividend of 0.37 per share on Friday, March 2nd. This represents a $1.48 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Tuesday, February 13th. This is an increase from Harley-Davidson’s previous quarterly dividend of $0.37.
Harley-Davidson has raised its dividend by an average of 9.9% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Harley-Davidson has a payout ratio of 42.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Harley-Davidson to earn $4.18 per share next year, which means the company should continue to be able to cover its $1.46 annual dividend with an expected future payout ratio of 34.9%.
Harley-Davidson (NYSE:HOG) opened at $48.48 on Thursday. The stock has a market capitalization of $8,182.51, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.51 and a beta of 0.84. Harley-Davidson has a fifty-two week low of $44.52 and a fifty-two week high of $63.40. The company has a quick ratio of 1.06, a current ratio of 1.23 and a debt-to-equity ratio of 2.49.
A number of brokerages have issued reports on HOG. Wedbush decreased their price target on Harley-Davidson to $49.00 and set a “neutral” rating for the company in a report on Wednesday, January 10th. Stifel Nicolaus decreased their price target on Harley-Davidson from $54.00 to $49.00 and set a “hold” rating for the company in a report on Wednesday, January 31st. Zacks Investment Research raised Harley-Davidson from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Friday, February 2nd. Wells Fargo & Co decreased their price target on Harley-Davidson from $59.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, February 1st. Finally, TheStreet downgraded Harley-Davidson from a “b-” rating to a “c+” rating in a report on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $52.00.
In other news, VP Paul J. Jones sold 870 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $47.62, for a total value of $41,429.40. Following the completion of the sale, the vice president now directly owns 3,399 shares of the company’s stock, valued at approximately $161,860.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.
Harley-Davidson announced that its Board of Directors has initiated a share buyback program on Monday, February 5th that allows the company to buyback 15,000,000 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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Harley-Davidson Company Profile
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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