Donald Smith & CO. Inc. Acquires New Stake in Harley-Davidson, Inc. $HOG

Donald Smith & CO. Inc. bought a new position in shares of Harley-Davidson, Inc. (NYSE:HOG) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 9,279,072 shares of the company’s stock, valued at approximately $226,966,000. Harley-Davidson comprises approximately 4.0% of Donald Smith & CO. Inc.’s portfolio, making the stock its 4th largest position. Donald Smith & CO. Inc. owned 0.09% of Harley-Davidson at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Pinnacle Holdings LLC acquired a new position in Harley-Davidson in the 4th quarter valued at about $30,000. Fifth Third Bancorp lifted its position in shares of Harley-Davidson by 48.9% during the fourth quarter. Fifth Third Bancorp now owns 1,764 shares of the company’s stock worth $36,000 after purchasing an additional 579 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Harley-Davidson by 858.2% during the second quarter. Versant Capital Management Inc now owns 1,629 shares of the company’s stock worth $40,000 after purchasing an additional 1,459 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Harley-Davidson by 153.8% in the first 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. Finally, Bessemer Group Inc. grew its holdings in shares of Harley-Davidson by 1,758.9% in the first quarter. Bessemer Group Inc. now owns 2,937 shares of the company’s stock valued at $59,000 after purchasing an additional 2,779 shares in the last quarter. 85.10% of the stock is currently owned by hedge funds and other institutional investors.

Harley-Davidson Stock Up 2.1%

HOG stock opened at $28.22 on Friday. The company’s 50 day moving average price is $25.93 and its 200 day moving average price is $23.16. 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, Inc. has a fifty-two week low of $17.09 and a fifty-two week high of $31.25. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 17.06 and a beta of 1.27.

Harley-Davidson (NYSE:HOG) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.75 EPS 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 the consensus estimate of $1.17 billion. During the same period in the prior year, the firm posted $0.88 EPS. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, equities research analysts anticipate that Harley-Davidson, Inc. will post 0.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. DA Davidson upped their target price on shares of Harley-Davidson from $30.00 to $33.00 and gave the stock 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 report on Tuesday, August 11th. UBS Group boosted their price target on shares of Harley-Davidson from $19.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Robert W. Baird upped their price objective on Harley-Davidson from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Finally, Morgan Stanley increased their price objective on Harley-Davidson from $15.00 to $17.00 and gave the company an “underweight” rating in a research note on Tuesday, July 28th. One 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $26.78.

Insider Activity

In other Harley-Davidson news, CFO Jonathan R. Root sold 1,554 shares of Harley-Davidson stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $24.88, for a total transaction of $38,663.52. Following the completion of the sale, the chief financial officer directly owned 27,846 shares of the company’s stock, valued at $692,808.48. The trade was a 5.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Artie Starrs purchased 10,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were acquired 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 directly owned 25,000 shares in the company, valued at $647,250. The trade was a 66.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 57,500 shares of company stock worth $1,439,550. 0.97% of the stock is currently owned by company insiders.

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.