38,495 Shares in Harley-Davidson, Inc. $HOG Acquired by State of Wyoming

Key Points

• Wyoming acquired 38,495 Harley-Davidson shares in the second quarter, valued at approximately $942,000. Institutional investors collectively own 85.1% of HOG, with several major funds increasing their positions.
• Analysts maintain a consensus “Hold” rating with an average price target of $26.11, despite some firms raising targets to $30. HOG recently traded at $27.74, within a 52-week range of $17.09 to $31.25.
• Harley-Davidson beat quarterly earnings expectations, reporting $0.75 in EPS versus $0.65 forecast and $1.23 billion in revenue, while revenue declined 5.9% year over year. Insiders bought 57,500 shares in the past three months, and the company pays a $0.75 annualized dividend yielding about 2.7%.

State of Wyoming acquired a new stake in shares of Harley-Davidson, Inc. (NYSE:HOG - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 38,495 shares of the company's stock, valued at approximately $942,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. lifted its stake in Harley-Davidson by 30.8% in the fourth quarter. Donald Smith & CO. Inc. now owns 8,899,204 shares of the company's stock valued at $182,345,000 after buying an additional 2,095,477 shares during the last quarter. Boston Partners grew its position in shares of Harley-Davidson by 2.1% during the third quarter. Boston Partners now owns 4,021,078 shares of the company's stock worth $112,179,000 after acquiring an additional 84,516 shares during the last quarter. State Street Corp increased its holdings in shares of Harley-Davidson by 1.7% in the 2nd quarter. State Street Corp now owns 3,757,709 shares of the company's stock worth $88,682,000 after acquiring an additional 64,118 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Harley-Davidson by 8.4% in the 1st quarter. Bank of New York Mellon Corp now owns 2,110,552 shares of the company's stock worth $42,675,000 after acquiring an additional 163,762 shares during the period. Finally, Bank of America Corp DE lifted its position in Harley-Davidson by 456.7% in the 1st quarter. Bank of America Corp DE now owns 1,735,378 shares of the company's stock valued at $35,089,000 after purchasing an additional 1,423,675 shares during the last quarter. 85.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Griffin Securities set a $30.00 target price on shares of Harley-Davidson in a research report on Monday, July 6th. DA Davidson lifted their price target on Harley-Davidson from $25.00 to $30.00 and gave the company a "buy" rating in a report on Monday, July 6th. Weiss Ratings upgraded Harley-Davidson from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday. Robert W. Baird increased their price objective on Harley-Davidson from $28.00 to $30.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Finally, Wolfe Research restated an "outperform" rating on shares of Harley-Davidson in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $26.11.

Insider Transactions at Harley-Davidson

In other news, CAO Gayle Littleton bought 7,500 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was purchased at an average cost of $26.38 per share, for a total transaction of $197,850.00. Following the completion of the transaction, the chief accounting officer directly owned 7,500 shares of the company's stock, valued at approximately $197,850. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel J. Nova purchased 40,000 shares of the firm's stock in a transaction on Friday, July 31st. The shares were purchased at an average cost of $24.57 per share, with a total value of $982,800.00. Following the completion of the purchase, the director owned 47,605 shares in the company, valued at $1,169,654.85. This represents a 525.97% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 57,500 shares of company stock worth $1,439,550 and sold 4,662 shares worth $114,266. Corporate insiders own 0.97% of the company's stock.

Harley-Davidson Stock Performance

Shares of HOG opened at $27.74 on Friday. The firm has a 50-day moving average price of $25.71 and a 200 day moving average price of $22.89. The firm has a market capitalization of $2.89 billion, a PE ratio of 17.02, a P/E/G ratio of 18.84 and a beta of 1.27. The company has a quick ratio of 1.70, a current ratio of 1.90 and a debt-to-equity ratio of 0.36. Harley-Davidson, Inc. has a 52-week low of $17.09 and a 52-week high of $31.25.

Harley-Davidson (NYSE:HOG - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.65 by $0.10. The firm had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.17 billion. Harley-Davidson had a net margin of 4.78% and a return on equity of 6.28%. Harley-Davidson's quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. On average, sell-side analysts anticipate that Harley-Davidson, Inc. will post 0.51 earnings per share for the current fiscal year.

Harley-Davidson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 8th were issued a dividend of $0.1875 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.75 annualized dividend and a yield of 2.7%. Harley-Davidson's payout ratio is presently 46.01%.

Harley-Davidson Company Profile

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.

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