Harley-Davidson (NYSE:HOG) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Harley-Davidson, Inc. (NYSE:HOG)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $21.66 and traded as high as $25.66. Harley-Davidson shares last traded at $24.6830, with a volume of 3,055,765 shares.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Citigroup lifted their price target on shares of Harley-Davidson from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings raised shares of Harley-Davidson from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. Morgan Stanley raised their price objective on shares of Harley-Davidson from $12.00 to $15.00 and gave the company an “underweight” rating in a research report on Tuesday, May 19th. Wall Street Zen cut shares of Harley-Davidson from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Finally, Zacks Research raised shares of Harley-Davidson from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Harley-Davidson has a consensus rating of “Hold” and a consensus price target of $24.22.

Harley-Davidson Price Performance

The firm has a 50 day moving average of $24.30 and a 200-day moving average of $21.66. The company has a market cap of $2.60 billion, a P/E ratio of 14.02, a P/E/G ratio of 15.58 and a beta of 1.26. The company has a current ratio of 1.91, a quick ratio of 1.66 and a debt-to-equity ratio of 0.37.

Harley-Davidson (NYSE:HOG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). Harley-Davidson had a return on equity of 7.03% and a net margin of 5.68%.The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the firm posted $1.07 earnings per share. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. On average, equities research analysts predict that Harley-Davidson, Inc. will post 0.39 EPS for the current year.

Harley-Davidson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 8th will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, June 8th. Harley-Davidson’s payout ratio is 42.61%.

Insiders Place Their Bets

In related news, insider Paul J. Krause sold 1,564 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $26.00, for a total transaction of $40,664.00. Following the completion of the transaction, the insider directly owned 30,012 shares of the company’s stock, valued at approximately $780,312. This trade represents a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jonathan R. Root sold 1,554 shares of Harley-Davidson stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $24.21, for a total transaction of $37,622.34. Following the completion of the sale, the chief financial officer owned 32,508 shares in the company, valued at approximately $787,018.68. This represents a 4.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its holdings in shares of Harley-Davidson by 6,537.2% in the first quarter. Pacer Advisors Inc. now owns 937,836 shares of the company’s stock worth $18,963,000 after purchasing an additional 923,706 shares during the last quarter. Empowered Funds LLC boosted its stake in Harley-Davidson by 303.4% during the first quarter. Empowered Funds LLC now owns 465,085 shares of the company’s stock valued at $9,404,000 after buying an additional 349,797 shares during the last quarter. Bank of America Corp DE boosted its stake in Harley-Davidson by 456.7% during the first quarter. Bank of America Corp DE now owns 1,735,378 shares of the company’s stock valued at $35,089,000 after buying an additional 1,423,675 shares during the last quarter. Kentucky Retirement Systems purchased a new position in Harley-Davidson during the 1st quarter valued at approximately $369,000. Finally, Amundi grew its holdings in Harley-Davidson by 119.8% during the 1st quarter. Amundi now owns 37,140 shares of the company’s stock valued at $751,000 after buying an additional 20,241 shares in the last quarter. Institutional investors own 85.10% of the company’s stock.

About Harley-Davidson

Harley-Davidson, Inc is a renowned American motorcycle manufacturer best known for its heavyweight cruiser and touring bikes. Founded in 1903 in Milwaukee, Wisconsin, the company has built a strong reputation for producing distinctive motorcycles characterized by their signature V-twin engines, chrome finishes and robust frames. Harley-Davidson markets its products globally through a network of franchised dealerships and focuses on delivering an immersive brand experience to its customers, emphasizing lifestyle and community alongside its motorcycles.

In addition to its core motorcycle business, Harley-Davidson offers an extensive range of parts, accessories and apparel under its Genuine Motor Parts & Accessories and MotorClothes lines.