Harley Davidson, Inc. (NYSE:HOG – Get Rating) announced a quarterly dividend on Wednesday, August 31st, Wall Street Journal reports. Stockholders of record on Monday, September 12th will be paid a dividend of 0.1575 per share on Thursday, September 22nd. This represents a $0.63 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Friday, September 9th. This is an increase from Harley-Davidson’s previous quarterly dividend of $0.16.
Harley-Davidson has decreased its dividend by an average of 26.0% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Harley-Davidson has a dividend payout ratio of 13.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Harley-Davidson to earn $4.69 per share next year, which means the company should continue to be able to cover its $0.63 annual dividend with an expected future payout ratio of 13.4%.
Harley-Davidson Stock Performance
Shares of Harley-Davidson stock traded down $0.33 during midday trading on Wednesday, hitting $38.57. The company had a trading volume of 1,032,424 shares, compared to its average volume of 1,752,976. The business’s 50 day simple moving average is $35.96 and its two-hundred day simple moving average is $36.90. The stock has a market cap of $5.64 billion, a PE ratio of 9.37, a P/E/G ratio of 0.84 and a beta of 1.34. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.44 and a quick ratio of 1.25. Harley-Davidson has a 1-year low of $29.80 and a 1-year high of $44.46.
Harley-Davidson (NYSE:HOG – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.21. Harley-Davidson had a net margin of 12.11% and a return on equity of 25.73%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the company earned $1.41 earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts predict that Harley-Davidson will post 4.48 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Director Rafeh Masood acquired 1,335 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was purchased at an average cost of $37.50 per share, with a total value of $50,062.50. Following the acquisition, the director now owns 1,335 shares of the company’s stock, valued at approximately $50,062.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.62% of the company’s stock.
Hedge Funds Weigh In On Harley-Davidson
Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its position in shares of Harley-Davidson by 1.5% in the 1st quarter. BlackRock Inc. now owns 12,727,257 shares of the company’s stock valued at $501,454,000 after purchasing an additional 194,089 shares during the period. State Street Corp grew its position in shares of Harley-Davidson by 5.6% in the 1st quarter. State Street Corp now owns 4,111,284 shares of the company’s stock valued at $161,985,000 after purchasing an additional 216,545 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Harley-Davidson by 11.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,036,664 shares of the company’s stock valued at $64,480,000 after purchasing an additional 201,500 shares during the period. Invesco Ltd. grew its position in shares of Harley-Davidson by 4.3% in the 1st quarter. Invesco Ltd. now owns 1,968,282 shares of the company’s stock valued at $77,549,000 after purchasing an additional 81,528 shares during the period. Finally, Eaton Vance Management grew its position in shares of Harley-Davidson by 21.4% in the 1st quarter. Eaton Vance Management now owns 1,536,885 shares of the company’s stock valued at $60,553,000 after purchasing an additional 270,398 shares during the period. 87.12% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. Northcoast Research reissued a “neutral” rating on shares of Harley-Davidson in a report on Tuesday, May 17th. DA Davidson lifted their price objective on Harley-Davidson to $36.00 in a report on Tuesday, August 9th. StockNews.com cut Harley-Davidson from a “buy” rating to a “hold” rating in a report on Saturday, August 6th. Bank of America cut their price target on Harley-Davidson from $70.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. Finally, Wolfe Research reaffirmed a “buy” rating and issued a $45.00 price target on shares of Harley-Davidson in a report on Friday, May 20th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Harley-Davidson presently has an average rating of “Moderate Buy” and a consensus price target of $49.00.
Harley-Davidson, Inc manufactures and sells motorcycles. The company operates in two segments, Motorcycles and Related Products and Financial Services. The Motorcycles and Related Products segment designs, manufactures, and sells Harley-Davidson motorcycles, including cruiser, touring, standard, sportbike, and dual models, as well as motorcycle parts, accessories, apparel, and related services.
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