Empowered Funds LLC Raises Stock Position in Harley-Davidson, Inc. $HOG

Key Points

• Empowered Funds LLC increased its Harley-Davidson position by 303.4% in the first quarter, holding 465,085 shares worth approximately $9.4 million. Institutional investors collectively own 85.1% of the company.
• Analyst sentiment remains mixed: Harley-Davidson has an average rating of “Hold” and a consensus price target of $26.11, despite some firms raising their targets and DA Davidson issuing a “Buy” rating.
• Harley-Davidson exceeded quarterly earnings and revenue expectations, reporting $0.75 EPS and $1.23 billion in revenue, but revenue fell 5.9% year over year. The company pays a quarterly dividend of $0.1875 per share, representing a 3.0% annualized yield.

Empowered Funds LLC raised its position in Harley-Davidson, Inc. (NYSE:HOG - Free Report) by 303.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 465,085 shares of the company's stock after purchasing an additional 349,797 shares during the quarter. Empowered Funds LLC owned about 0.44% of Harley-Davidson worth $9,404,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of America Corp DE increased its holdings in shares of Harley-Davidson by 456.7% during the 1st quarter. Bank of America Corp DE now owns 1,735,378 shares of the company's stock worth $35,089,000 after buying an additional 1,423,675 shares during the last quarter. Kentucky Retirement Systems acquired a new position in Harley-Davidson in the first quarter valued at approximately $369,000. Amundi grew its position in Harley-Davidson by 119.8% in the first quarter. Amundi now owns 37,140 shares of the company's stock worth $751,000 after acquiring an additional 20,241 shares during the period. California State Teachers Retirement System increased its stake in Harley-Davidson by 15.8% during the first quarter. California State Teachers Retirement System now owns 123,757 shares of the company's stock worth $2,502,000 after acquiring an additional 16,911 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in Harley-Davidson by 0.8% during the first quarter. Royal Bank of Canada now owns 229,216 shares of the company's stock worth $4,635,000 after acquiring an additional 1,830 shares during the last quarter. Institutional investors and hedge funds own 85.10% of the company's stock.

Insiders Place Their Bets

In related news, insider Paul J. Krause sold 1,564 shares of the business's stock in a transaction on Monday, May 11th. The stock was 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 $780,312. The trade was a 4.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jonathan R. Root sold 1,554 shares of the company's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $24.44, for a total value of $37,979.76. Following the sale, the chief financial officer owned 29,400 shares in the company, valued at approximately $718,536. This trade represents a 5.02% decrease in their position. 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 4,672 shares of company stock worth $116,266 in the last ninety days. Corporate insiders own 0.97% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Zacks Research raised Harley-Davidson from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. Morgan Stanley raised their price objective on Harley-Davidson from $15.00 to $17.00 and gave the stock an "underweight" rating in a research report on Tuesday. Robert W. Baird boosted their price objective on shares of Harley-Davidson from $28.00 to $30.00 and gave the company a "neutral" rating in a report on Friday, July 24th. Weiss Ratings raised shares of Harley-Davidson from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 18th. Finally, DA Davidson lifted their price target on shares of Harley-Davidson from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $26.11.

Harley-Davidson Trading Down 0.5%

NYSE HOG opened at $24.71 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.70 and a current ratio of 1.90. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 17.01 and a beta of 1.26. The firm has a 50 day simple moving average of $25.24 and a 200-day simple moving average of $22.47. Harley-Davidson, Inc. has a one year low of $17.09 and a one year high of $31.25.

Harley-Davidson (NYSE:HOG - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.10. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.17 billion. Harley-Davidson had a net margin of 4.78% and a return on equity of 6.28%. The firm's revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. Equities research analysts anticipate that Harley-Davidson, Inc. will post 0.5 EPS for the current fiscal year.

Harley-Davidson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 8th were given a dividend of $0.1875 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.0%. Harley-Davidson's dividend payout ratio is currently 46.01%.

About Harley-Davidson

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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