Cornercap Investment Counsel Inc. Sells 7,717 Shares of Harley-Davidson, Inc. (NYSE:HOG)

Cornercap Investment Counsel Inc. reduced its stake in Harley-Davidson, Inc. (NYSE:HOG) by 51.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,420 shares of the company’s stock after selling 7,717 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Harley-Davidson were worth $286,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in Harley-Davidson in the 3rd quarter valued at $38,000. Signaturefd LLC raised its position in Harley-Davidson by 46.8% in the 2nd quarter. Signaturefd LLC now owns 1,872 shares of the company’s stock valued at $63,000 after buying an additional 597 shares during the last quarter. Fifth Third Bancorp raised its position in Harley-Davidson by 19.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,970 shares of the company’s stock valued at $66,000 after buying an additional 322 shares during the last quarter. GAMMA Investing LLC raised its position in Harley-Davidson by 19.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,008 shares of the company’s stock valued at $67,000 after buying an additional 320 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in Harley-Davidson by 191.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,999 shares of the company’s stock valued at $133,000 after buying an additional 2,626 shares during the last quarter. 85.10% of the stock is owned by hedge funds and other institutional investors.

Harley-Davidson Trading Up 0.8 %

Harley-Davidson stock opened at $32.90 on Monday. 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 business’s fifty day simple moving average is $35.09 and its two-hundred day simple moving average is $35.17. Harley-Davidson, Inc. has a 12 month low of $29.34 and a 12 month high of $44.16. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 7.41, a price-to-earnings-growth ratio of 0.44 and a beta of 1.46.

Harley-Davidson announced that its board has initiated a stock repurchase plan on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 19.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Harley-Davidson Announces Dividend

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

Insiders Place Their Bets

In related news, Director Maryrose Sylvester sold 4,278 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $32.25, for a total transaction of $137,965.50. Following the completion of the sale, the director now owns 17,687 shares in the company, valued at approximately $570,405.75. This trade represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on HOG shares. Bank of America decreased their target price on Harley-Davidson from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Baird R W lowered Harley-Davidson from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Robert W. Baird lowered Harley-Davidson from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $44.00 to $40.00 in a report on Wednesday, October 2nd. UBS Group cut their target price on Harley-Davidson from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Finally, Citigroup cut their target price on Harley-Davidson from $39.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Harley-Davidson has an average rating of “Hold” and an average price target of $42.57.

Harley-Davidson Profile

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.