Bellevue Asset Management LLC Has $331,000 Position in PACCAR Inc. $PCAR

Bellevue Asset Management LLC grew its position in PACCAR Inc. (NASDAQ:PCAR) by 10.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,478 shares of the company’s stock after purchasing an additional 322 shares during the period. Bellevue Asset Management LLC’s holdings in PACCAR were worth $331,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. FORA Capital LLC bought a new stake in PACCAR during the 1st quarter worth about $597,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in shares of PACCAR by 15.1% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company’s stock valued at $77,404,000 after acquiring an additional 104,281 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of PACCAR by 62.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company’s stock valued at $3,533,000 after acquiring an additional 13,904 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of PACCAR by 51.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company’s stock valued at $1,262,000 after acquiring an additional 4,429 shares during the last quarter. Finally, Moran Wealth Management LLC increased its stake in shares of PACCAR by 28.8% in the 1st quarter. Moran Wealth Management LLC now owns 235,167 shares of the company’s stock valued at $22,898,000 after acquiring an additional 52,525 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the sale, the chief executive officer owned 223,190 shares of the company’s stock, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, the chief financial officer directly owned 468 shares of the company’s stock, valued at $47,239.92. This represents a 91.44% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the subject of a number of research reports. Vertical Research raised PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Evercore ISI set a $114.00 target price on PACCAR and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Argus raised PACCAR from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. increased their target price on PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $107.68.

PACCAR Trading Down 1.9%

NASDAQ PCAR opened at $96.68 on Wednesday. The company has a market cap of $50.77 billion, a PE ratio of 16.55, a PEG ratio of 4.00 and a beta of 0.94. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81. The stock has a 50 day moving average of $98.93 and a 200-day moving average of $95.62.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.28 by $0.09. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.13 EPS. On average, equities research analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.4%. PACCAR’s dividend payout ratio (DPR) is currently 22.60%.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.