Intech Investment Management LLC Takes Position in Harley-Davidson, Inc. (NYSE:HOG)

Intech Investment Management LLC purchased a new stake in shares of Harley-Davidson, Inc. (NYSE:HOG) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 16,719 shares of the company’s stock, valued at approximately $561,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Harley-Davidson by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,428,716 shares of the company’s stock valued at $587,372,000 after purchasing an additional 452,536 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in Harley-Davidson by 42.7% in the first quarter. Illinois Municipal Retirement Fund now owns 80,010 shares of the company’s stock worth $3,500,000 after acquiring an additional 23,958 shares during the period. Lighthouse Investment Partners LLC purchased a new position in Harley-Davidson in the fourth quarter valued at about $1,133,000. LSV Asset Management grew its position in shares of Harley-Davidson by 17.3% during the 2nd quarter. LSV Asset Management now owns 5,705,775 shares of the company’s stock valued at $191,372,000 after acquiring an additional 842,407 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Harley-Davidson during the 4th quarter worth approximately $1,696,000. 85.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. UBS Group upped their price objective on Harley-Davidson from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Robert W. Baird increased their price target on Harley-Davidson from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Citigroup boosted their price objective on Harley-Davidson from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $46.00.

Harley-Davidson Stock Performance

NYSE:HOG opened at $38.22 on Friday. Harley-Davidson, Inc. has a 52-week low of $25.43 and a 52-week high of $44.16. The business’s fifty day moving average is $36.85 and its 200 day moving average is $36.80. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.50. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 1.41 and a beta of 1.44.

Harley-Davidson (NYSE:HOG) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.23. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.29 billion. Harley-Davidson had a net margin of 11.92% and a return on equity of 20.33%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.22 earnings per share. Research analysts predict that Harley-Davidson, Inc. will post 4.32 EPS for the current year.

Harley-Davidson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be issued a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Monday, September 16th. Harley-Davidson’s payout ratio is 15.33%.

Harley-Davidson announced that its Board of Directors has initiated a share buyback program on Thursday, July 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 19.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Harley-Davidson Company Profile

Harley-Davidson, Inc manufactures and sells motorcycles in the United States and internationally. The company operates in three segments: Harley-Davidson Motor Company, LiveWire, and Harley-Davidson Financial Services. The Harley-Davidson Motor Company segment designs, manufactures, and sells motorcycles, including cruiser, trike, touring, standard, sportbike, adventure, and dual sport, as well as motorcycle parts, accessories, and apparel, as well as licenses its trademarks and related services.