Engineers Gate Manager LP Boosts Stock Position in Harley-Davidson, Inc. $HOG

Key Points

• Engineers Gate Manager LP increased its Harley-Davidson stake by 294.6% in the second quarter, ending with 99,046 shares valued at approximately $2.4 million. Institutional investors and hedge funds collectively own 85.1% of the company.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $27.44. Recent target changes range from Morgan Stanley’s $17 underweight view to DA Davidson’s $33 buy-rated target.
• Harley-Davidson reported quarterly EPS of $0.75, exceeding the $0.65 consensus estimate, while revenue fell 5.9% year over year to $1.23 billion. The company declared a quarterly dividend of $0.1875 per share, representing a 2.7% annualized yield.

Engineers Gate Manager LP raised its position in shares of Harley-Davidson, Inc. (NYSE:HOG - Free Report) by 294.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,046 shares of the company's stock after purchasing an additional 73,946 shares during the quarter. Engineers Gate Manager LP owned 0.10% of Harley-Davidson worth $2,423,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new stake in Harley-Davidson in the second quarter valued at approximately $242,000. Allworth Financial LP raised its position in Harley-Davidson by 98.5% during the 2nd quarter. Allworth Financial LP now owns 7,810 shares of the company's stock worth $191,000 after buying an additional 3,876 shares during the last quarter. Nykredit A S acquired a new stake in Harley-Davidson during the 2nd quarter valued at approximately $88,000. Corient Private Wealth LP lifted its stake in Harley-Davidson by 76.9% during the 2nd quarter. Corient Private Wealth LP now owns 27,833 shares of the company's stock valued at $681,000 after acquiring an additional 12,098 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Harley-Davidson in the 2nd quarter valued at $2,879,000. 85.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of Harley-Davidson from $27.00 to $31.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 8th. DA Davidson boosted their target price on shares of Harley-Davidson from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Monday, August 17th. Morgan Stanley upped their price target on shares of Harley-Davidson from $15.00 to $17.00 and gave the company an "underweight" rating in a report on Tuesday, July 28th. Wolfe Research reaffirmed an "outperform" rating on shares of Harley-Davidson in a research report on Monday, June 15th. Finally, UBS Group lifted their price objective on Harley-Davidson from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $27.44.

Insider Activity

In other news, CEO Artie Starrs bought 10,000 shares of the stock in a transaction dated Monday, August 10th. The shares were acquired at an average cost of $25.89 per share, with a total value of $258,900.00. Following the purchase, the chief executive officer directly owned 25,000 shares in the company, valued at $647,250. The trade was a 66.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel J. Nova bought 40,000 shares of the company's stock in a transaction dated Friday, July 31st. The shares were acquired at an average price of $24.57 per share, for a total transaction of $982,800.00. Following the completion of the transaction, the director directly owned 47,605 shares in the company, valued at approximately $1,169,654.85. This trade represents a 525.97% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 57,500 shares of company stock worth $1,439,550 and sold 4,662 shares worth $119,316. Corporate insiders own 0.97% of the company's stock.

Harley-Davidson Trading Down 0.7%

Harley-Davidson stock opened at $27.68 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.70 and a debt-to-equity ratio of 0.36. Harley-Davidson, Inc. has a 12 month low of $17.09 and a 12 month high of $31.25. The stock's 50 day simple moving average is $26.72 and its two-hundred day simple moving average is $24.02. The firm has a market cap of $2.88 billion, a PE ratio of 16.98, a P/E/G ratio of 9.16 and a beta of 1.29.

Harley-Davidson (NYSE:HOG - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.10. Harley-Davidson had a net margin of 4.78% and a return on equity of 6.28%. The business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter last year, the company earned $0.88 EPS. The business's revenue was down 5.9% on a year-over-year basis. Analysts anticipate that Harley-Davidson, Inc. will post 0.56 earnings per share for the current year.

Harley-Davidson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, September 15th. Harley-Davidson's dividend payout ratio (DPR) is currently 46.01%.

Harley-Davidson Company Profile

Harley-Davidson, Inc is a Milwaukee, Wisconsin-based motorcycle company founded in 1903. Through its Harley-Davidson Motor Company business, it designs, manufactures and sells heavyweight motorcycles known for their touring, cruiser and performance-oriented models. The company also markets motorcycle parts, accessories, riding gear, apparel and branded merchandise.

Harley-Davidson sells its products through a network of independently owned dealerships and other distribution channels in North America and international markets, including Europe, the Middle East, Africa, Asia-Pacific and Latin America.

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