Insider Buying: Harley-Davidson (NYSE:HOG) CEO Purchases $258,900.00 in Stock

Key Points

• CEO insider buying: Harley-Davidson CEO Artie Starrs purchased 10,000 shares for approximately $258,900, increasing his position by 66.67% to 25,000 shares.
• Quarterly results beat estimates: The company reported $0.75 in quarterly EPS versus the $0.65 consensus estimate, while revenue reached $1.23 billion but declined 5.9% year over year.
• Mixed market outlook: HOG shares recently traded at $26.68, while analysts’ average rating was “Hold” with an average price target of $26.11; the company also offers a 2.8% dividend yield.

Harley-Davidson, Inc. (NYSE:HOG - Get Free Report) CEO Artie Starrs acquired 10,000 shares of Harley-Davidson stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of $25.89 per share, with a total value of $258,900.00. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Harley-Davidson Stock Performance

Shares of HOG traded up $0.58 during mid-day trading on Tuesday, hitting $26.68. The stock had a trading volume of 1,673,771 shares, compared to its average volume of 3,174,921. The firm has a market cap of $2.78 billion, a P/E ratio of 16.37, a PEG ratio of 17.64 and a beta of 1.27. The business has a fifty day moving average price of $25.50 and a 200-day moving average price of $22.72. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.90 and a quick ratio of 1.70. Harley-Davidson, Inc. has a 52 week low of $17.09 and a 52 week high of $31.25.

Harley-Davidson (NYSE:HOG - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.75 earnings per share for the quarter, topping 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 company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the firm posted $0.88 EPS. The firm's revenue for the quarter was down 5.9% on a year-over-year basis. On average, equities research analysts expect that Harley-Davidson, Inc. will post 0.51 EPS for the current year.

Harley-Davidson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Monday, June 8th were issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, June 8th. Harley-Davidson's dividend payout ratio (DPR) is presently 46.01%.

Hedge Funds Weigh In On Harley-Davidson

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Harley-Davidson during the 2nd quarter valued at about $249,395,000. Donald Smith & CO. Inc. raised its stake in 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 purchasing an additional 2,095,477 shares in the last quarter. Bank of America Corp DE raised its stake in Harley-Davidson by 456.7% in the first quarter. Bank of America Corp DE now owns 1,735,378 shares of the company's stock valued at $35,089,000 after purchasing an additional 1,423,675 shares in the last quarter. Aegis Financial Corp bought a new stake in Harley-Davidson during the first quarter valued at approximately $27,681,000. Finally, Norges Bank bought a new stake in Harley-Davidson during the fourth quarter valued at approximately $25,766,000. 85.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HOG. Robert W. Baird increased their price objective on Harley-Davidson from $28.00 to $30.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Wolfe Research reiterated an "outperform" rating on shares of Harley-Davidson in a research report on Monday, June 15th. Loop Capital upgraded 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. Griffin Securities set a $30.00 price objective on shares of Harley-Davidson in a research note on Monday, July 6th. Finally, Zacks Research upgraded shares of Harley-Davidson from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $26.11.

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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