Harley-Davidson (NYSE:HOG) Director Purchases 40,000 Shares

Key Points

• Director Daniel Nova purchased 40,000 Harley-Davidson shares at an average price of $24.57, investing $982,800 and increasing his holdings by nearly 526% to 47,605 shares.
• Harley-Davidson’s shares rose 3.0% to $25.29, while the company’s latest quarterly results beat expectations with earnings of $0.75 per share and revenue of $1.23 billion, though revenue declined 5.9% year over year.
• The company pays a quarterly dividend of $0.1875 per share, equivalent to a 3.0% yield, while analysts maintain a consensus “Hold” rating and a $26.11 average price target.

Harley-Davidson, Inc. (NYSE:HOG - Get Free Report) Director Daniel Nova acquired 40,000 shares of the company's stock in a transaction on Friday, July 31st. The shares were bought at an average price of $24.57 per share, for a total transaction of $982,800.00. Following the completion of the purchase, the director owned 47,605 shares in the company, valued at approximately $1,169,654.85. This represents a 525.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Harley-Davidson Stock Up 3.0%

Shares of NYSE HOG traded up $0.75 during trading on Monday, hitting $25.29. The stock had a trading volume of 2,582,354 shares, compared to its average volume of 3,235,747. Harley-Davidson, Inc. has a 12 month low of $17.09 and a 12 month high of $31.25. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.90 and a quick ratio of 1.70. The company has a market capitalization of $2.66 billion, a PE ratio of 15.51, a PEG ratio of 16.81 and a beta of 1.27. The firm has a fifty day moving average of $25.26 and a two-hundred day moving average of $22.50.

Harley-Davidson (NYSE:HOG - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm earned $0.88 earnings per share. The firm's revenue was down 5.9% on a year-over-year basis. As a group, equities research analysts forecast that Harley-Davidson, Inc. will post 0.5 EPS for the current fiscal year.

Harley-Davidson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Monday, June 8th were given 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 3.0%. Harley-Davidson's dividend payout ratio (DPR) is currently 46.01%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HOG. Zacks Research raised Harley-Davidson from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. Loop Capital upgraded Harley-Davidson from a "hold" rating to a "buy" rating and set a $32.00 price target on the stock in a report on Monday, July 20th. Citigroup boosted their price objective on Harley-Davidson from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Sunday, July 12th. Wolfe Research restated an "outperform" rating on shares of Harley-Davidson in a research note on Monday, June 15th. Finally, Morgan Stanley raised their target price on Harley-Davidson from $15.00 to $17.00 and gave the company an "underweight" rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $26.11.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOG. Donald Smith & CO. Inc. raised its stake in shares of Harley-Davidson by 30.8% in the fourth quarter. Donald Smith & CO. Inc. now owns 8,899,204 shares of the company's stock valued at $182,345,000 after buying an additional 2,095,477 shares during the period. Bank of America Corp DE grew its stake in shares of Harley-Davidson by 456.7% during the 1st quarter. Bank of America Corp DE now owns 1,735,378 shares of the company's stock worth $35,089,000 after acquiring an additional 1,423,675 shares during the period. Aegis Financial Corp purchased a new stake in Harley-Davidson in the 1st quarter worth about $27,681,000. Norges Bank bought a new stake in Harley-Davidson in the 4th quarter valued at about $25,766,000. Finally, Pacer Advisors Inc. raised its stake in Harley-Davidson by 6,537.2% in the 1st quarter. Pacer Advisors Inc. now owns 937,836 shares of the company's stock valued at $18,963,000 after acquiring an additional 923,706 shares during the period. 85.10% of the stock is currently owned by hedge funds and other institutional investors.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source