Harley-Davidson (NYSE:HOG) Downgraded to “Equal Weight” Rating by Morgan Stanley

Morgan Stanley downgraded shares of Harley-Davidson (NYSE:HOG) from an overweight rating to an equal weight rating in a report published on Tuesday, MarketBeat.com reports. The brokerage currently has $33.00 price target on the stock, down from their prior price target of $40.00.

HOG has been the subject of a number of other reports. UBS Group cut their price target on shares of Harley-Davidson from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Bank of America cut their price target on shares of Harley-Davidson from $50.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Robert W. Baird cut their price target on shares of Harley-Davidson from $40.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, December 31st. StockNews.com raised shares of Harley-Davidson from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. Finally, Citigroup cut their price objective on Harley-Davidson from $39.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $39.57.

Harley-Davidson Price Performance

Shares of NYSE HOG opened at $28.84 on Tuesday. Harley-Davidson has a twelve month low of $27.37 and a twelve month high of $44.16. The company has a current ratio of 1.41, a quick ratio of 1.25 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 6.49, a PEG ratio of 0.34 and a beta of 1.48. The firm has a 50-day moving average of $31.39 and a two-hundred day moving average of $34.16.

Harley-Davidson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Tuesday, December 10th were issued a dividend of $0.1725 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.69 annualized dividend and a yield of 2.39%. Harley-Davidson’s payout ratio is presently 15.54%.

Insider Activity

In other news, Director Maryrose Sylvester sold 4,278 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $32.25, for a total value of $137,965.50. Following the transaction, the director now owns 17,687 shares in the company, valued at $570,405.75. This represents a 19.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Harley-Davidson

A number of hedge funds have recently added to or reduced their stakes in HOG. Prospera Private Wealth LLC acquired a new position in Harley-Davidson in the third quarter worth approximately $35,000. Ashton Thomas Securities LLC acquired a new position in Harley-Davidson in the third quarter worth approximately $38,000. Brooklyn Investment Group acquired a new position in Harley-Davidson in the third quarter worth approximately $79,000. GAMMA Investing LLC increased its holdings in Harley-Davidson by 24.6% in the third quarter. GAMMA Investing LLC now owns 2,502 shares of the company’s stock worth $96,000 after buying an additional 494 shares during the last quarter. Finally, Covestor Ltd increased its holdings in Harley-Davidson by 14.7% in the third quarter. Covestor Ltd now owns 3,505 shares of the company’s stock worth $135,000 after buying an additional 448 shares during the last quarter. Institutional investors and hedge funds own 85.10% of the company’s stock.

Harley-Davidson Company 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.