UMB Bank N A MO increased its position in PACCAR Inc. (NASDAQ:PCAR) by 0.5% during the second quarter, Holdings Channel reports. The fund owned 96,034 shares of the company’s stock after buying an additional 437 shares during the period. UMB Bank N A MO’s holdings in PACCAR were worth $6,342,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in PCAR. Creative Planning increased its stake in shares of PACCAR by 0.6% in the first quarter. Creative Planning now owns 17,705 shares of the company’s stock valued at $1,190,000 after buying an additional 103 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in shares of PACCAR by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 107,257 shares of the company’s stock valued at $7,207,000 after buying an additional 1,400 shares in the last quarter. National Pension Service increased its stake in shares of PACCAR by 1.5% in the first quarter. National Pension Service now owns 300,915 shares of the company’s stock valued at $20,354,000 after buying an additional 4,492 shares in the last quarter. Bank of Montreal Can increased its stake in shares of PACCAR by 0.6% in the first quarter. Bank of Montreal Can now owns 1,017,317 shares of the company’s stock valued at $68,364,000 after buying an additional 5,804 shares in the last quarter. Finally, DnB Asset Management AS increased its stake in shares of PACCAR by 22.9% in the first quarter. DnB Asset Management AS now owns 46,643 shares of the company’s stock valued at $3,134,000 after buying an additional 8,700 shares in the last quarter. Institutional investors own 61.31% of the company’s stock.
Shares of PACCAR Inc. (PCAR) opened at 64.81 on Friday. The company has a 50-day moving average of $67.26 and a 200-day moving average of $66.54. The stock has a market capitalization of $22.77 billion, a P/E ratio of 17.35 and a beta of 1.14. PACCAR Inc. has a 52 week low of $53.38 and a 52 week high of $70.32.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.07. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the firm posted $1.06 EPS. PACCAR’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts anticipate that PACCAR Inc. will post $4.00 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 16th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.00 annualized dividend and a yield of 1.54%. PACCAR’s payout ratio is presently 26.74%.
A number of brokerages have recently commented on PCAR. BidaskClub raised shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Stifel Nicolaus restated a “buy” rating and set a $72.00 target price (up previously from $64.00) on shares of PACCAR in a research note on Wednesday, July 26th. Citigroup Inc. lifted their price objective on shares of PACCAR from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. UBS AG reiterated a “buy” rating and issued a $76.00 price objective (up previously from $75.00) on shares of PACCAR in a research note on Wednesday, July 26th. Finally, Zacks Investment Research upgraded shares of PACCAR from a “sell” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $72.00.
In related news, insider T. Kyle Quinn sold 2,786 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total transaction of $189,141.54. Following the sale, the insider now owns 20,800 shares in the company, valued at approximately $1,412,112. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.64% of the company’s stock.
PACCAR Company Profile
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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