WINTON GROUP Ltd Decreases Stake in Harley-Davidson, Inc. $HOG

Key Points

• WINTON GROUP Ltd cut its Harley-Davidson stake by 84.2% in the second quarter, selling 70,353 shares and retaining 13,201 shares valued at approximately $323,000. Institutional investors collectively own 85.1% of HOG.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $27.44; targets range from $17 to $32.
• Harley-Davidson exceeded quarterly earnings and revenue expectations, reporting $0.75 EPS and $1.23 billion in revenue, though revenue declined 5.9% year over year. The company declared a quarterly dividend of $0.1875, equating to a 2.8% annualized yield.

WINTON GROUP Ltd cut its position in shares of Harley-Davidson, Inc. (NYSE:HOG - Free Report) by 84.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,201 shares of the company's stock after selling 70,353 shares during the period. WINTON GROUP Ltd's holdings in Harley-Davidson were worth $323,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HOG. BlackRock Inc. purchased a new stake in shares of Harley-Davidson during the 2nd quarter worth approximately $249,395,000. Donald Smith & CO. Inc. purchased a new position in shares of Harley-Davidson in the second quarter valued at $226,966,000. Bank of America Corp DE purchased a new position in shares of Harley-Davidson in the second quarter valued at $45,065,000. Aegis Financial Corp bought a new stake in Harley-Davidson in the first quarter worth $27,681,000. Finally, Norges Bank bought a new stake in Harley-Davidson in the fourth quarter worth $25,766,000. Hedge funds and other institutional investors own 85.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. 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. UBS Group lifted their price objective on shares of Harley-Davidson from $26.00 to $28.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 2nd. Morgan Stanley boosted their target price on shares of Harley-Davidson from $15.00 to $17.00 and gave the stock an "underweight" rating in a report on Tuesday, July 28th. Weiss Ratings upgraded shares of Harley-Davidson from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Finally, Wolfe Research reaffirmed an "outperform" rating on shares of Harley-Davidson in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $27.44.

Insider Activity

In other news, Director Daniel Nova purchased 40,000 shares of the business's stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average cost of $24.57 per share, for a total transaction of $982,800.00. Following the acquisition, the director owned 47,605 shares of the company's stock, valued at approximately $1,169,654.85. This trade represents a 525.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jonathan Root sold 1,554 shares of the company's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $27.46, for a total transaction of $42,672.84. Following the transaction, the chief financial officer owned 26,292 shares in the company, valued at $721,978.32. The trade was a 5.58% 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. In the last quarter, insiders bought 57,500 shares of company stock valued at $1,439,550 and sold 4,662 shares valued at $119,316. Company insiders own 0.97% of the company's stock.

Harley-Davidson Stock Performance

NYSE:HOG opened at $26.53 on Friday. The stock's fifty day moving average is $26.81 and its 200 day moving average is $24.20. Harley-Davidson, Inc. has a fifty-two week low of $17.09 and a fifty-two week high of $30.19. The firm has a market capitalization of $2.76 billion, a PE ratio of 16.28, a PEG ratio of 8.82 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.

Harley-Davidson (NYSE:HOG - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.65 by $0.10. Harley-Davidson had a net margin of 4.78% and a return on equity of 6.28%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm earned $0.88 earnings per share. Harley-Davidson's quarterly revenue was down 5.9% compared to the same quarter last year. On average, sell-side 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 announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 15th. Harley-Davidson's dividend payout ratio (DPR) is 46.01%.

Harley-Davidson 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.