Robinson Value Management Ltd. Buys New Shares in Harley-Davidson, Inc. $HOG

Key Points

• Robinson Value Management opened a new position in Harley-Davidson, buying 158,986 shares worth about $3.2 million in the first quarter. The stake represents about 1.8% of the firm’s holdings and 0.15% of Harley-Davidson’s shares outstanding.
• Institutional ownership remains high, with 85.10% of Harley-Davidson stock held by institutions. Several other funds also added to or initiated positions during the quarter.
• Insiders have been selling shares, including CFO Jonathan R. Root and insider Paul J. Krause, both through pre-arranged 10b5-1 plans. Analysts currently have a Hold consensus on the stock, with a consensus target price of $24.44.

Robinson Value Management Ltd. bought a new position in shares of Harley-Davidson, Inc. (NYSE:HOG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 158,986 shares of the company's stock, valued at approximately $3,215,000. Harley-Davidson makes up 1.8% of Robinson Value Management Ltd.'s holdings, making the stock its 20th biggest holding. Robinson Value Management Ltd. owned 0.15% of Harley-Davidson at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HOG. Calamos Wealth Management LLC acquired a new position in Harley-Davidson in the 1st quarter valued at approximately $322,000. Calamos Advisors LLC acquired a new stake in shares of Harley-Davidson during the 1st quarter worth approximately $322,000. State of Michigan Retirement System increased its position in shares of Harley-Davidson by 1.8% during the first quarter. State of Michigan Retirement System now owns 28,461 shares of the company's stock valued at $575,000 after purchasing an additional 500 shares during the period. Principal Financial Group Inc. increased its position in shares of Harley-Davidson by 3.9% during the first quarter. Principal Financial Group Inc. now owns 263,734 shares of the company's stock valued at $5,333,000 after purchasing an additional 9,922 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new position in shares of Harley-Davidson in the first quarter valued at $203,000. 85.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related 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 sale, the chief financial officer directly owned 29,400 shares in the company, valued at $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 is available at 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 value of $40,664.00. Following the sale, the insider directly owned 30,012 shares of the company's stock, valued at $780,312. This represents a 4.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 4,672 shares of company stock valued at $116,266 in the last quarter. 0.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HOG. Wolfe Research reiterated an "outperform" rating on shares of Harley-Davidson in a research note on Monday, June 15th. UBS Group lifted their target price on shares of Harley-Davidson from $19.00 to $26.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Griffin Securities set a $30.00 price target on shares of Harley-Davidson in a research report on Monday, July 6th. DA Davidson lifted their price objective on Harley-Davidson from $25.00 to $30.00 and gave the company a "buy" rating in a report on Monday, July 6th. Finally, Citigroup upped their price objective on Harley-Davidson from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Sunday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Harley-Davidson has a consensus rating of "Hold" and a consensus target price of $24.44.

Harley-Davidson Stock Up 3.7%

HOG opened at $26.02 on Thursday. The firm's 50-day simple moving average is $24.89 and its 200-day simple moving average is $22.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.66 and a current ratio of 1.91. Harley-Davidson, Inc. has a twelve month low of $17.09 and a twelve month high of $31.25. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 14.95 and a beta of 1.26.

Harley-Davidson (NYSE:HOG - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.12). The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.01 billion. Harley-Davidson had a return on equity of 7.03% and a net margin of 5.68%.The company's revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.07 EPS. Equities research analysts anticipate that Harley-Davidson, Inc. will post 0.4 EPS for the current fiscal year.

Harley-Davidson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders 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 dividend yield of 2.9%. Harley-Davidson's dividend payout ratio (DPR) is presently 42.61%.

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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