Harley-Davidson (NYSE:HOG) Downgraded by Morgan Stanley to “Equal Weight”

Morgan Stanley downgraded shares of Harley-Davidson (NYSE:HOG) from an overweight rating to an equal weight rating in a research note released on Tuesday morning, Marketbeat Ratings reports. They currently have $33.00 price objective on the stock, down from their previous price objective of $40.00.

Other analysts have also issued research reports about the stock. Bank of America dropped their price target on shares of Harley-Davidson from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Baird R W lowered shares of Harley-Davidson from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. UBS Group lowered their target price on shares of Harley-Davidson from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Robert W. Baird lowered their target price on shares of Harley-Davidson from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, December 31st. Finally, Citigroup lowered their target price on shares of Harley-Davidson from $39.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Harley-Davidson has a consensus rating of “Hold” and a consensus target price of $39.57.

Harley-Davidson Stock Down 0.7 %

Shares of NYSE:HOG opened at $28.84 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 1.25 and a debt-to-equity ratio of 1.38. The company has a fifty day simple moving average of $31.39 and a 200 day simple moving average of $34.16. The firm has a market cap of $3.67 billion, a PE ratio of 6.49, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48. Harley-Davidson has a 12-month low of $27.37 and a 12-month high of $44.16.

Harley-Davidson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Tuesday, December 10th were given a dividend of $0.1725 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.69 annualized dividend and a dividend yield of 2.39%. Harley-Davidson’s dividend payout ratio is currently 15.54%.

Insider Transactions at Harley-Davidson

In other news, Director Maryrose Sylvester sold 4,278 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $32.25, for a total transaction of $137,965.50. Following the completion of the transaction, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Harley-Davidson

Several institutional investors have recently modified their holdings of HOG. Prospera Private Wealth LLC acquired a new stake in Harley-Davidson in the third quarter worth about $35,000. Ashton Thomas Securities LLC acquired a new stake in Harley-Davidson in the third quarter worth about $38,000. Brooklyn Investment Group acquired a new stake in Harley-Davidson in the third quarter worth about $79,000. GAMMA Investing LLC lifted its holdings in Harley-Davidson by 24.6% in the third quarter. GAMMA Investing LLC now owns 2,502 shares of the company’s stock worth $96,000 after purchasing an additional 494 shares during the period. Finally, Covestor Ltd lifted its holdings in Harley-Davidson by 14.7% in the third quarter. Covestor Ltd now owns 3,505 shares of the company’s stock worth $135,000 after purchasing an additional 448 shares during the period. Institutional investors own 85.10% 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.