PNC Financial Services Group Inc. Trims Stock Position in Harley-Davidson, Inc. (NYSE:HOG)

PNC Financial Services Group Inc. lessened its holdings in Harley-Davidson, Inc. (NYSE:HOG) by 5.5% during the 4th quarter, Holdings Channel reports. The firm owned 19,775 shares of the company’s stock after selling 1,149 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Harley-Davidson were worth $596,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of HOG. Victory Capital Management Inc. lifted its holdings in shares of Harley-Davidson by 3.0% in the third quarter. Victory Capital Management Inc. now owns 27,611 shares of the company’s stock valued at $1,064,000 after purchasing an additional 807 shares in the last quarter. Empowered Funds LLC raised its position in shares of Harley-Davidson by 21.8% in the third quarter. Empowered Funds LLC now owns 14,828 shares of the company’s stock valued at $571,000 after buying an additional 2,657 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Harley-Davidson by 13.8% in the third quarter. Natixis Advisors LLC now owns 22,656 shares of the company’s stock valued at $873,000 after buying an additional 2,756 shares during the last quarter. Quest Partners LLC raised its position in shares of Harley-Davidson by 71,664.3% in the third quarter. Quest Partners LLC now owns 10,047 shares of the company’s stock valued at $387,000 after buying an additional 10,033 shares during the last quarter. Finally, Prospera Financial Services Inc acquired a new position in shares of Harley-Davidson in the third quarter valued at approximately $327,000. Hedge funds and other institutional investors own 85.10% of the company’s stock.

Wall Street Analysts Forecast Growth

HOG has been the subject of a number of analyst reports. Bank of America cut their price objective on shares of Harley-Davidson from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Citigroup cut their price objective on shares of Harley-Davidson from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. DA Davidson cut their price objective on shares of Harley-Davidson from $39.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Robert W. Baird cut their price objective on shares of Harley-Davidson from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, December 31st. Finally, StockNews.com raised shares of Harley-Davidson from a “sell” rating to a “hold” rating in a research report on Wednesday, November 27th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $33.57.

Harley-Davidson Stock Performance

Shares of HOG stock opened at $25.20 on Wednesday. Harley-Davidson, Inc. has a one year low of $23.81 and a one year high of $44.16. The company has a 50 day moving average price of $26.84 and a 200 day moving average price of $31.45. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 7.57, a price-to-earnings-growth ratio of 0.38 and a beta of 1.49. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.19 and a current ratio of 1.40.

Harley-Davidson (NYSE:HOG) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.28). Harley-Davidson had a return on equity of 13.64% and a net margin of 9.25%. During the same quarter last year, the business posted $0.18 earnings per share. Sell-side analysts anticipate that Harley-Davidson, Inc. will post 3.44 EPS for the current year.

Harley-Davidson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.72 annualized dividend and a dividend yield of 2.86%. This is a positive change from Harley-Davidson’s previous quarterly dividend of $0.17. Harley-Davidson’s dividend payout ratio is presently 21.62%.

Insider Transactions at Harley-Davidson

In other news, insider Luke Christopher Mansfield sold 3,400 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $25.96, for a total value of $88,264.00. Following the completion of the transaction, the insider now directly owns 23,555 shares in the company, valued at approximately $611,487.80. This represents a 12.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.87% of the company’s stock.

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.