The Manufacturers Life Insurance Company Buys New Position in Harley-Davidson, Inc. $HOG

The Manufacturers Life Insurance Company acquired a new stake in Harley-Davidson, Inc. (NYSE:HOG) in the second quarter, HoldingsChannel reports. The institutional investor acquired 93,935 shares of the company’s stock, valued at approximately $2,298,000.

A number of other hedge funds have also made changes to their positions in the stock. Aberdeen Wealth Management LLC acquired a new stake in Harley-Davidson during the second quarter valued at approximately $29,000. TCM Advisors LLC acquired a new stake in shares of Harley-Davidson during the 2nd quarter worth approximately $739,000. Cibc World Market Inc. bought a new stake in shares of Harley-Davidson in the 2nd quarter worth approximately $409,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Harley-Davidson in the 2nd quarter worth approximately $5,205,000. Finally, Pinnacle Holdings LLC acquired a new position in Harley-Davidson during the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 85.10% of the company’s stock.

Harley-Davidson Stock Up 2.4%

Shares of Harley-Davidson stock opened at $27.80 on Thursday. 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 1-year low of $17.09 and a 1-year high of $31.25. The business’s fifty day moving average price is $26.29 and its two-hundred day moving average price is $23.60. The company has a market capitalization of $2.89 billion, a P/E ratio of 17.06, a PEG ratio of 8.92 and a beta of 1.29.

Harley-Davidson (NYSE:HOG) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.10. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Harley-Davidson had a return on equity of 6.28% and a net margin of 4.78%.The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 earnings per share. As a group, research analysts forecast that Harley-Davidson, Inc. will post 0.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their target price on Harley-Davidson from $15.00 to $19.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 6th. Griffin Securities set a $33.00 price target on shares of Harley-Davidson in a research report on Monday, August 17th. Morgan Stanley increased their price objective 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. Robert W. Baird lifted their price objective on shares of Harley-Davidson from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Finally, Wolfe Research reissued an “outperform” rating on shares of Harley-Davidson in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.00.

Insider Activity at Harley-Davidson

In related news, CEO Artie Starrs bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was purchased 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 approximately $647,250. This represents a 66.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jonathan R. Root sold 1,554 shares of the firm’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 directly owned 26,292 shares in the company, valued at approximately $721,978.32. The trade was a 5.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders acquired 57,500 shares of company stock worth $1,439,550 and sold 4,662 shares worth $119,316. 0.97% of the stock is currently owned by company insiders.

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.