Huntington National Bank Trims Stake in Harley-Davidson, Inc. (NYSE:HOG)

Huntington National Bank lessened its stake in Harley-Davidson, Inc. (NYSE:HOG) by 40.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,286 shares of the company’s stock after selling 874 shares during the period. Huntington National Bank’s holdings in Harley-Davidson were worth $50,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HOG. Victory Capital Management Inc. boosted its holdings in Harley-Davidson by 3.0% during the third quarter. Victory Capital Management Inc. now owns 27,611 shares of the company’s stock worth $1,064,000 after buying an additional 807 shares in the last quarter. Aigen Investment Management LP boosted its stake in shares of Harley-Davidson by 32.5% during the 3rd quarter. Aigen Investment Management LP now owns 23,172 shares of the company’s stock worth $893,000 after acquiring an additional 5,680 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Harley-Davidson during the 3rd quarter valued at about $38,000. River Global Investors LLP increased its stake in shares of Harley-Davidson by 4.3% in the 3rd quarter. River Global Investors LLP now owns 38,898 shares of the company’s stock valued at $1,499,000 after purchasing an additional 1,612 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its holdings in Harley-Davidson by 2.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 74,160 shares of the company’s stock worth $2,857,000 after purchasing an additional 1,900 shares during the period. Institutional investors and hedge funds own 85.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group dropped their price target on shares of Harley-Davidson from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Robert W. Baird cut Harley-Davidson from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $44.00 to $40.00 in a report on Wednesday, October 2nd. Bank of America decreased their target price on Harley-Davidson from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Baird R W cut Harley-Davidson from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Citigroup decreased 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.57.

Harley-Davidson Stock Performance

Shares of Harley-Davidson stock opened at $32.94 on Tuesday. The business’s 50 day moving average price is $35.02 and its 200 day moving average price is $35.15. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 0.44 and a beta of 1.46. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.25 and a current ratio of 1.41. Harley-Davidson, Inc. has a one year low of $29.67 and a one year high of $44.16.

Harley-Davidson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were given a dividend of $0.1725 per share. The ex-dividend date was Monday, September 16th. This represents a $0.69 annualized dividend and a dividend yield of 2.10%. Harley-Davidson’s payout ratio is 15.54%.

Harley-Davidson declared that its Board of Directors has approved a stock buyback plan on Thursday, July 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows 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 leadership believes its stock is undervalued.

Insider Activity at Harley-Davidson

In related news, Director Maryrose Sylvester sold 4,278 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $32.25, for a total value of $137,965.50. Following the completion of the transaction, the director now directly owns 17,687 shares in the company, valued at approximately $570,405.75. This represents a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.87% of the stock is currently owned by insiders.

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.