Redwood Investment Management LLC Acquires Shares of 90,891 Harley-Davidson, Inc. $HOG

Redwood Investment Management LLC purchased a new position in shares of Harley-Davidson, Inc. (NYSE:HOG) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 90,891 shares of the company’s stock, valued at approximately $2,223,000.

Several other large investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Harley-Davidson by 62.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,436 shares of the company’s stock valued at $2,183,000 after purchasing an additional 33,097 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Harley-Davidson by 18.3% in the 1st quarter. Empowered Funds LLC now owns 17,560 shares of the company’s stock worth $443,000 after purchasing an additional 2,712 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Harley-Davidson by 153.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,109 shares of the company’s stock valued at $53,000 after purchasing an additional 1,278 shares during the period. Federated Hermes Inc. grew its stake in Harley-Davidson by 32.8% during the 2nd quarter. Federated Hermes Inc. now owns 16,076 shares of the company’s stock worth $379,000 after buying an additional 3,967 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in Harley-Davidson by 12.0% in the second quarter. California Public Employees Retirement System now owns 204,156 shares of the company’s stock worth $4,818,000 after buying an additional 21,913 shares during the period. 85.10% of the stock is currently owned by institutional investors.

Insider Activity at Harley-Davidson

In other news, Director Daniel J. Nova bought 40,000 shares of the business’s stock in a transaction on Friday, July 31st. The stock was purchased at an average cost of $24.57 per share, for a total transaction of $982,800.00. Following the completion of the transaction, the director directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jonathan R. Root sold 1,554 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $24.88, for a total value of $38,663.52. Following the transaction, the chief financial officer directly owned 27,846 shares of the company’s stock, valued at approximately $692,808.48. The trade was a 5.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders purchased 57,500 shares of company stock valued at $1,439,550. 0.97% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HOG. DA Davidson raised their target price on Harley-Davidson from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, August 17th. 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. Wolfe Research restated an “outperform” rating on shares of Harley-Davidson in a research report on Monday, June 15th. Wells Fargo & Company raised their price target on shares of Harley-Davidson from $15.00 to $19.00 and gave the company an “underweight” rating in a research note on Wednesday, May 6th. Finally, UBS Group boosted their price objective on Harley-Davidson from $19.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. One research 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 company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.78.

Harley-Davidson Price Performance

Shares of HOG opened at $27.85 on Thursday. Harley-Davidson, Inc. has a one year low of $17.09 and a one year high of $31.25. The stock’s fifty day moving average is $26.06 and its 200-day moving average is $23.34. 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 market capitalization of $2.90 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 16.98 and a beta of 1.27.

Harley-Davidson (NYSE:HOG) last posted 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. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.17 billion. Harley-Davidson had a net margin of 4.78% and a return on equity of 6.28%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 earnings per share. Equities analysts anticipate that Harley-Davidson, Inc. will post 0.56 EPS for the current year.

Harley-Davidson 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.