Redwood Investment Management LLC Increases Position in Harley-Davidson, Inc. $HOG

Key Points

• Redwood Investment Management LLC increased its stake in Harley-Davidson by 19.5%, acquiring an additional 23,805 shares and owning about 0.12% of the company, valued at approximately $3.69 million.
• Harley-Davidson's quarterly revenue was reported at $1.31 billion, exceeding analysts' expectations of $1.09 billion, though the company missed earnings per share estimates with $0.88.
• Several analysts have adjusted target prices for Harley-Davidson, with DA Davidson raising it from $31.00 to $34.00 and UBS Group lowering it from $28.00 to $27.00, resulting in a consensus rating of "Hold."

Redwood Investment Management LLC boosted its position in Harley-Davidson, Inc. (NYSE:HOG - Free Report) by 19.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,132 shares of the company's stock after purchasing an additional 23,805 shares during the quarter. Redwood Investment Management LLC owned about 0.12% of Harley-Davidson worth $3,690,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its position in shares of Harley-Davidson by 209.7% in the first quarter. Assetmark Inc. now owns 1,053 shares of the company's stock valued at $27,000 after purchasing an additional 713 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Harley-Davidson by 52.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,110 shares of the company's stock worth $53,000 after purchasing an additional 725 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Harley-Davidson by 153.6% in the 1st quarter. UMB Bank n.a. now owns 1,306 shares of the company's stock valued at $33,000 after acquiring an additional 791 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Harley-Davidson by 7.8% in the 4th quarter. Deutsche Bank AG now owns 11,486 shares of the company's stock valued at $346,000 after acquiring an additional 831 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in Harley-Davidson by 35.6% during the 1st quarter. Parallel Advisors LLC now owns 3,578 shares of the company's stock valued at $90,000 after purchasing an additional 939 shares during the period. 85.10% of the stock is owned by institutional investors and hedge funds.

Harley-Davidson Trading Up 1.2%

Shares of NYSE:HOG traded up $0.34 during trading on Friday, reaching $29.16. The company's stock had a trading volume of 1,292,111 shares, compared to its average volume of 1,959,608. The company has a current ratio of 1.37, a quick ratio of 1.20 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $3.54 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 0.43 and a beta of 1.29. Harley-Davidson, Inc. has a 12 month low of $20.45 and a 12 month high of $39.93. The firm's 50 day simple moving average is $25.18 and its two-hundred day simple moving average is $24.70.

Harley-Davidson (NYSE:HOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.11). Harley-Davidson had a net margin of 5.76% and a return on equity of 7.43%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm posted $1.63 EPS. The business's revenue was down 19.3% on a year-over-year basis. On average, research analysts predict that Harley-Davidson, Inc. will post 3.44 EPS for the current fiscal year.

Harley-Davidson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be given a $0.18 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.5%. Harley-Davidson's dividend payout ratio is 37.31%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on HOG shares. Zacks Research upgraded Harley-Davidson from a "strong sell" rating to a "hold" rating in a research note on Monday. Robert W. Baird upped their price objective on Harley-Davidson from $26.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday, May 14th. DA Davidson upped their price objective on Harley-Davidson from $31.00 to $34.00 and gave the company a "buy" rating in a research report on Monday. Citigroup upped their price objective on Harley-Davidson from $24.00 to $27.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. Finally, Griffin Securities set a $34.00 price target on Harley-Davidson in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $30.86.

Insider Buying and Selling at Harley-Davidson

In other Harley-Davidson news, Director Rafeh Masood acquired 2,068 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was bought at an average price of $24.06 per share, for a total transaction of $49,756.08. Following the acquisition, the director owned 4,705 shares in the company, valued at approximately $113,202.30. The trade was a 78.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.93% of the stock is currently owned by company insiders.

Harley-Davidson Company 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.