Harley-Davidson, Inc. (NYSE:HOG) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System cut its stake in Harley-Davidson, Inc. (NYSE:HOG) by 5.5% in the second quarter, Holdings Channel reports. The firm owned 29,461 shares of the company’s stock after selling 1,700 shares during the period. State of Michigan Retirement System’s holdings in Harley-Davidson were worth $988,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of HOG. Signaturefd LLC boosted its stake in Harley-Davidson by 115.0% in the 4th quarter. Signaturefd LLC now owns 1,150 shares of the company’s stock worth $42,000 after purchasing an additional 615 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Harley-Davidson by 16.4% in the 4th quarter. Victory Capital Management Inc. now owns 27,810 shares of the company’s stock worth $1,025,000 after purchasing an additional 3,911 shares in the last quarter. New York Life Investment Management LLC boosted its stake in Harley-Davidson by 6.7% in the 4th quarter. New York Life Investment Management LLC now owns 16,289 shares of the company’s stock worth $600,000 after purchasing an additional 1,029 shares in the last quarter. M&T Bank Corp acquired a new stake in Harley-Davidson in the 4th quarter worth approximately $224,000. Finally, National Bank of Canada FI boosted its stake in Harley-Davidson by 22.3% in the 4th quarter. National Bank of Canada FI now owns 2,054 shares of the company’s stock worth $74,000 after purchasing an additional 374 shares in the last quarter. 85.10% of the stock is currently owned by institutional investors and hedge funds.

Harley-Davidson Price Performance

NYSE:HOG opened at $37.40 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.50 and a quick ratio of 1.32. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 8.31, a price-to-earnings-growth ratio of 1.15 and a beta of 1.46. The company has a 50 day moving average price of $35.33 and a 200-day moving average price of $36.79. Harley-Davidson, Inc. has a 1-year low of $25.43 and a 1-year high of $44.16.

Harley-Davidson (NYSE:HOG) last posted its earnings results on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.23. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.29 billion. Harley-Davidson had a net margin of 11.92% and a return on equity of 20.33%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 EPS. Equities research analysts forecast that Harley-Davidson, Inc. will post 4.35 EPS for the current year.

Harley-Davidson declared that its board has authorized a stock repurchase plan on Thursday, July 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 19.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on HOG shares. Citigroup lowered their target price on shares of Harley-Davidson from $36.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, June 12th. UBS Group lifted their price objective on shares of Harley-Davidson from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Finally, Robert W. Baird lifted their price objective on shares of Harley-Davidson from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.29.

Harley-Davidson Profile

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