Bank of New York Mellon Corp Purchases 163,762 Shares of Harley-Davidson, Inc. $HOG

Key Points

• Bank of New York Mellon increased its Harley-Davidson stake by 8.4% in the first quarter, buying 163,762 additional shares and bringing its total holding to 2.11 million shares worth about $42.7 million.
• Harley-Davidson’s latest quarter beat expectations, posting EPS of $0.75 versus $0.65 expected and revenue of $1.23 billion versus $1.17 billion forecast, though revenue was still down 5.9% year over year.
• Management also raised full-year guidance, helping support a generally cautious Wall Street view; analysts currently rate the stock a consensus Hold with an average price target of $25.89.

Bank of New York Mellon Corp lifted its position in shares of Harley-Davidson, Inc. (NYSE:HOG - Free Report) by 8.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,110,552 shares of the company's stock after purchasing an additional 163,762 shares during the period. Bank of New York Mellon Corp owned 1.93% of Harley-Davidson worth $42,675,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Pinnacle Holdings LLC bought a new position in shares of Harley-Davidson during the fourth quarter valued at approximately $30,000. Fifth Third Bancorp increased its position in Harley-Davidson by 48.9% during the 4th quarter. Fifth Third Bancorp now owns 1,764 shares of the company's stock valued at $36,000 after purchasing an additional 579 shares during the period. Geneos Wealth Management Inc. raised its holdings in Harley-Davidson by 153.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,109 shares of the company's stock worth $53,000 after purchasing an additional 1,278 shares in the last quarter. Westfuller Advisors LLC lifted its position in shares of Harley-Davidson by 65.8% in the 4th quarter. Westfuller Advisors LLC now owns 4,002 shares of the company's stock worth $82,000 after purchasing an additional 1,588 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of Harley-Davidson by 36.3% during the 4th quarter. Farther Finance Advisors LLC now owns 4,119 shares of the company's stock valued at $84,000 after purchasing an additional 1,098 shares in the last quarter. Hedge funds and other institutional investors own 85.10% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. UBS Group lifted their price objective on Harley-Davidson from $19.00 to $26.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. DA Davidson upped their price target on Harley-Davidson from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. Zacks Research upgraded Harley-Davidson from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. Wells Fargo & Company raised their price objective on Harley-Davidson from $15.00 to $19.00 and gave the company an "underweight" rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley boosted their target price on shares of Harley-Davidson from $12.00 to $15.00 and gave the company an "underweight" rating in a report on Tuesday, May 19th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $25.89.

Insider Activity

In other news, CFO Jonathan R. Root sold 1,554 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $24.44, for a total transaction of $37,979.76. Following the completion of the transaction, the chief financial officer directly owned 29,400 shares in the company, valued at approximately $718,536. This represents a 5.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 4,672 shares of company stock valued at $116,266 in the last three months. Insiders own 0.97% of the company's stock.

Harley-Davidson Price Performance

NYSE:HOG opened at $25.45 on Friday. The company has a quick ratio of 1.66, 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. The business's 50-day simple moving average is $25.15 and its two-hundred day simple moving average is $22.36. The stock has a market cap of $2.68 billion, a PE ratio of 15.61, a P/E/G ratio of 17.83 and a beta of 1.26.

Harley-Davidson (NYSE:HOG - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.10. The company had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.17 billion. Harley-Davidson had a return on equity of 6.28% and a net margin of 4.78%.The firm's revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 EPS. As a group, analysts forecast that Harley-Davidson, Inc. will post 0.39 EPS for the current fiscal year.

Harley-Davidson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Monday, June 8th were paid a $0.1875 dividend. The ex-dividend date was Monday, June 8th. This represents a $0.75 annualized dividend and a yield of 2.9%. Harley-Davidson's payout ratio is presently 42.61%.

Harley-Davidson News Summary

Here are the key news stories impacting Harley-Davidson this week:

• Positive Sentiment: Harley-Davidson beat Q2 estimates with EPS of $0.75 versus $0.65 expected, and revenue of $1.23 billion versus $1.17 billion forecast, helped by stronger motorcycle demand in its core HDMC business. Harley-Davidson Delivers Second Quarter Financial Results and Raises Full-Year Guidance
• Positive Sentiment: The company raised its full-year sales guidance, signaling management sees momentum in its turnaround and stronger North American sales ahead. Harley-Davidson Raises Outlook on Strong North American Sales
• Positive Sentiment: Several outlets highlighted Harley-Davidson as a value stock and noted that analysts remain constructive overall, including Baird lifting its price target to $30 while keeping a neutral rating. Harley-Davidson Emerges On Value Stock Screens
• Neutral Sentiment: Harley-Davidson’s financing segment, HDFS, saw revenue plunge, which offsets some of the enthusiasm around the core motorcycle business and adds a mixed note to the quarter. Harley-Davidson Q2 Earnings Beat Estimates on HDMC Growth
• Neutral Sentiment: LiveWire continued to narrow losses, but it remains a small drag rather than a major driver for the stock right now. Harley-Davidson Q2 Earnings Beat Estimates on HDMC Growth
• Negative Sentiment: Motorcycle deliveries fell short of expectations, and revenue declined 5.9% year over year, reminding investors that demand is still uneven despite the earnings beat. Harley-Davidson Q2 bike sales fall short of expectations
• Negative Sentiment: Higher raw material costs and lower quarterly profit underscore margin pressure, which may limit how quickly the turnaround translates into stronger earnings. Harley-Davidson posts lower quarterly results as raw material costs rise

Harley-Davidson 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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