Allspring Global Investments Holdings LLC Sells 533 Shares of Harley-Davidson, Inc. (NYSE:HOG)

Allspring Global Investments Holdings LLC trimmed its holdings in Harley-Davidson, Inc. (NYSE:HOG) by 21.8% in the 2nd quarter, Holdings Channel reports. The fund owned 1,911 shares of the company’s stock after selling 533 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Harley-Davidson were worth $64,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Harley-Davidson by 3.5% in the first quarter. Vanguard Group Inc. now owns 13,428,716 shares of the company’s stock valued at $587,372,000 after acquiring an additional 452,536 shares during the period. Boston Partners boosted its position in shares of Harley-Davidson by 10.1% in the fourth quarter. Boston Partners now owns 7,206,167 shares of the company’s stock valued at $265,398,000 after acquiring an additional 659,654 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Harley-Davidson by 15.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,241,888 shares of the company’s stock valued at $193,115,000 after acquiring an additional 689,363 shares during the period. LSV Asset Management boosted its position in shares of Harley-Davidson by 0.7% in the first quarter. LSV Asset Management now owns 4,863,368 shares of the company’s stock valued at $212,724,000 after acquiring an additional 33,667 shares during the period. Finally, Norges Bank bought a new stake in shares of Harley-Davidson in the fourth quarter valued at approximately $51,860,000. 85.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HOG has been the subject of several research reports. Citigroup reduced their price objective on Harley-Davidson from $36.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, June 12th. Robert W. Baird raised their target price on Harley-Davidson from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, UBS Group raised their target price on Harley-Davidson from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.29.

Harley-Davidson Stock Performance

Harley-Davidson stock opened at $36.40 on Tuesday. 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 stock has a fifty day moving average price of $35.78 and a two-hundred day moving average price of $36.76. Harley-Davidson, Inc. has a 52-week low of $25.43 and a 52-week high of $44.16. The firm has a market capitalization of $4.79 billion, a P/E ratio of 8.09, a P/E/G ratio of 1.33 and a beta of 1.44.

Harley-Davidson (NYSE:HOG) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.23. Harley-Davidson had a return on equity of 20.33% and a net margin of 11.92%. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the company posted $1.22 earnings per share. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, analysts anticipate that Harley-Davidson, Inc. will post 4.32 EPS for the current fiscal year.

Harley-Davidson announced that its Board of Directors has initiated a share buyback plan on Thursday, July 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 19.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Harley-Davidson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Monday, September 16th. Harley-Davidson’s dividend payout ratio (DPR) is currently 15.33%.

About Harley-Davidson

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.