VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 117,700 Harley-Davidson, Inc. $HOG

Key Points

• Virginia Retirement Systems purchased 117,700 Harley-Davidson shares worth approximately $2.88 million, while institutional investors collectively own 85.1% of the company.
• Analyst sentiment remains mixed, with an average “Hold” rating and a $27.44 price target; several firms recently raised their targets or upgraded the stock to “Buy.”
• Harley-Davidson beat quarterly earnings and revenue expectations, reporting $0.75 EPS and $1.23 billion in revenue, and declared a quarterly dividend of $0.1875 per share, representing a 2.8% annualized yield.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Harley-Davidson, Inc. (NYSE:HOG - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 117,700 shares of the company's stock, valued at approximately $2,879,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.11% of Harley-Davidson as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Aberdeen Wealth Management LLC acquired a new stake in shares of Harley-Davidson in the second quarter worth $29,000. Pinnacle Holdings LLC bought a new stake in Harley-Davidson in the 4th quarter valued at $30,000. Versant Capital Management Inc boosted its holdings in Harley-Davidson by 858.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,629 shares of the company's stock valued at $40,000 after purchasing an additional 1,459 shares during the period. Geneos Wealth Management Inc. grew its position in Harley-Davidson by 153.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,109 shares of the company's stock worth $53,000 after purchasing an additional 1,278 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in Harley-Davidson by 1,758.9% in the 1st quarter. Bessemer Group Inc. now owns 2,937 shares of the company's stock worth $59,000 after purchasing an additional 2,779 shares during the last quarter. 85.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Loop Capital raised shares of Harley-Davidson from a "hold" rating to a "buy" rating and set a $32.00 price objective for the company in a research report on Monday, July 20th. Wolfe Research reissued an "outperform" rating on shares of Harley-Davidson in a research report on Monday, June 15th. Citigroup boosted their price target on Harley-Davidson from $27.00 to $31.00 and gave the company a "neutral" rating in a research note on Tuesday. Weiss Ratings raised Harley-Davidson from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Finally, DA Davidson raised their price objective on Harley-Davidson from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Monday, August 17th. 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 given a Sell rating to the company. According to data from MarketBeat, Harley-Davidson currently has an average rating of "Hold" and an average target price of $27.44.

Insider Buying and Selling

In related news, CEO Artie Starrs bought 10,000 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average price of $25.89 per share, for a total transaction of $258,900.00. Following the transaction, the chief executive officer directly owned 25,000 shares of the company's stock, valued at $647,250. This represents a 66.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Gayle Littleton purchased 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The stock was bought at an average cost of $26.38 per share, for a total transaction of $197,850.00. Following the purchase, the chief accounting officer owned 7,500 shares in the company, valued at $197,850. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 57,500 shares of company stock valued at $1,439,550 and sold 4,662 shares valued at $119,316. 0.97% of the stock is currently owned by corporate insiders.

Harley-Davidson Trading Up 1.0%

Shares of HOG stock opened at $26.93 on Friday. Harley-Davidson, Inc. has a 52-week low of $17.09 and a 52-week high of $31.25. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 8.76 and a beta of 1.29. 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 fifty day moving average of $26.61 and a 200-day moving average of $23.90.

Harley-Davidson (NYSE:HOG - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.10. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates 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 was down 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 EPS. On average, equities research analysts forecast that Harley-Davidson, Inc. will post 0.56 earnings per share for the current fiscal year.

Harley-Davidson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Harley-Davidson's payout ratio is presently 46.01%.

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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