Gallacher Capital Management LLC Makes New Investment in Harley-Davidson, Inc. $HOG

Gallacher Capital Management LLC purchased a new stake in shares of Harley-Davidson, Inc. (NYSE:HOG) in the first quarter, HoldingsChannel reports. The institutional investor purchased 23,091 shares of the company’s stock, valued at approximately $467,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Triumph Capital Management lifted its stake in shares of Harley-Davidson by 4.7% in the 3rd quarter. Triumph Capital Management now owns 10,171 shares of the company’s stock worth $284,000 after purchasing an additional 454 shares during the period. State of Michigan Retirement System grew its position in Harley-Davidson by 1.8% during the first quarter. State of Michigan Retirement System now owns 28,461 shares of the company’s stock valued at $575,000 after buying an additional 500 shares during the period. Allworth Financial LP grew its position in Harley-Davidson by 13.7% during the third quarter. Allworth Financial LP now owns 4,314 shares of the company’s stock valued at $120,000 after buying an additional 519 shares during the period. Fifth Third Bancorp increased its holdings in Harley-Davidson by 48.9% during the fourth quarter. Fifth Third Bancorp now owns 1,764 shares of the company’s stock valued at $36,000 after buying an additional 579 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Harley-Davidson by 2.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 24,251 shares of the company’s stock valued at $490,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 85.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HOG shares. Robert W. Baird set a $28.00 price target on shares of Harley-Davidson in a research note on Wednesday, May 6th. Wells Fargo & Company upped their price objective on Harley-Davidson from $15.00 to $19.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded Harley-Davidson from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. UBS Group lifted their target price on Harley-Davidson from $19.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, DA Davidson boosted their price target on Harley-Davidson from $25.00 to $30.00 and gave the company a “buy” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $24.44.

Insider Buying and Selling at Harley-Davidson

In other Harley-Davidson news, CFO Jonathan R. Root sold 1,554 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $24.44, for a total value of $37,979.76. Following the completion of the sale, the chief financial officer owned 29,400 shares in the company, valued at approximately $718,536. This represents a 5.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul J. Krause sold 1,564 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $26.00, for a total value of $40,664.00. Following the completion of the sale, the insider owned 30,012 shares of the company’s stock, valued at $780,312. The trade was a 4.95% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 4,672 shares of company stock valued at $116,266 in the last ninety days. 0.97% of the stock is currently owned by insiders.

Harley-Davidson Price Performance

NYSE HOG opened at $26.67 on Friday. Harley-Davidson, Inc. has a 12 month low of $17.09 and a 12 month high of $31.25. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 15.98 and a beta of 1.26. The company’s 50 day moving average is $24.98 and its two-hundred day moving average is $22.13. The company has a current ratio of 1.91, a quick ratio of 1.66 and a debt-to-equity ratio of 0.37.

Harley-Davidson (NYSE:HOG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.01 billion. Harley-Davidson had a return on equity of 7.03% and a net margin of 5.68%.The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.07 earnings per share. As a group, research analysts anticipate that Harley-Davidson, Inc. will post 0.4 earnings per share for the current year.

Harley-Davidson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 8th were issued a $0.1875 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.75 annualized dividend and a yield of 2.8%. Harley-Davidson’s dividend payout ratio is currently 42.61%.

About Harley-Davidson

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.