The Manufacturers Life Insurance Company Makes New $2.30 Million Investment in Harley-Davidson, Inc. $HOG

Key Points

• The Manufacturers Life Insurance Company bought 93,935 Harley-Davidson shares worth approximately $2.30 million, while institutional investors and hedge funds collectively own 85.10% of HOG.
• Analyst sentiment remains mixed: Harley-Davidson has an average rating of “Hold” and a consensus price target of $27, despite Loop Capital upgrading the stock to “Buy” with a $32 target.
• Harley-Davidson beat quarterly earnings expectations with $0.75 in EPS versus $0.65 expected, but revenue fell 5.9% year over year to $1.23 billion; insiders also made notable net purchases during the past 90 days.

The Manufacturers Life Insurance Company purchased a new stake in Harley-Davidson, Inc. (NYSE:HOG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 93,935 shares of the company's stock, valued at approximately $2,298,000. The Manufacturers Life Insurance Company owned approximately 0.09% of Harley-Davidson at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Harley-Davidson during the 2nd quarter worth approximately $249,395,000. Donald Smith & CO. Inc. purchased a new stake in Harley-Davidson in the 2nd quarter valued at approximately $226,966,000. Boston Partners grew its holdings in Harley-Davidson by 2.1% during the 3rd quarter. Boston Partners now owns 4,021,078 shares of the company's stock valued at $112,179,000 after buying an additional 84,516 shares during the last quarter. State Street Corp grew its holdings in Harley-Davidson by 1.7% during the 2nd quarter. State Street Corp now owns 3,757,709 shares of the company's stock valued at $88,682,000 after buying an additional 64,118 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Harley-Davidson by 8.4% during the first quarter. Bank of New York Mellon Corp now owns 2,110,552 shares of the company's stock worth $42,675,000 after buying an additional 163,762 shares in the last quarter. 85.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on HOG shares. Wells Fargo & Company upped 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. Weiss Ratings raised shares of Harley-Davidson from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Morgan Stanley upped their target price 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. Loop Capital raised shares of Harley-Davidson from a "hold" rating to a "buy" rating and set a $32.00 price target on the stock in a research note on Monday, July 20th. Finally, Citigroup lifted their price target on shares of Harley-Davidson from $26.00 to $27.00 and gave the stock a "neutral" rating in a report on Sunday, July 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $27.00.

Harley-Davidson Price Performance

HOG stock opened at $27.80 on Thursday. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 8.92 and a beta of 1.29. The company has a quick ratio of 1.70, 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 stock's fifty day simple moving average is $26.29 and its 200-day simple moving average is $23.60.

Harley-Davidson (NYSE:HOG - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.65 by $0.10. Harley-Davidson had a return on equity of 6.28% and a net margin of 4.78%.The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm posted $0.88 earnings per share. The business's quarterly revenue was down 5.9% compared to the same quarter last year. Equities research analysts expect that Harley-Davidson, Inc. will post 0.56 EPS for the current year.

Insider Activity at Harley-Davidson

In related news, Director Daniel J. Nova bought 40,000 shares of the firm's stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average cost of $24.57 per share, with a total value of $982,800.00. Following the completion of the transaction, the director owned 47,605 shares of the company's stock, valued at approximately $1,169,654.85. The trade was a 525.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Artie Starrs purchased 10,000 shares of the business's stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $25.89 per share, for a total transaction of $258,900.00. Following the purchase, the chief executive officer owned 25,000 shares of the company's stock, valued at $647,250. This trade represents a 66.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 57,500 shares of company stock valued at $1,439,550 and have sold 4,662 shares valued at $119,316. Company insiders own 0.97% of the company's stock.

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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