Interchange Capital Partners LLC Has $220,000 Position in PACCAR Inc. $PCAR

Interchange Capital Partners LLC raised its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 20.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,314 shares of the company’s stock after purchasing an additional 396 shares during the quarter. Interchange Capital Partners LLC’s holdings in PACCAR were worth $220,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of PACCAR by 1.8% in the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock worth $6,133,914,000 after acquiring an additional 1,113,520 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of PACCAR by 20.1% in the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock worth $1,964,725,000 after acquiring an additional 3,379,165 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of PACCAR by 9.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company’s stock worth $1,144,578,000 after acquiring an additional 987,805 shares during the last quarter. Northern Trust Corp increased its stake in shares of PACCAR by 0.5% in the first quarter. Northern Trust Corp now owns 7,239,967 shares of the company’s stock worth $704,956,000 after acquiring an additional 37,609 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of PACCAR by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company’s stock worth $594,277,000 after acquiring an additional 97,197 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PCAR. JPMorgan Chase & Co. upped their price target on shares of PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Wall Street Zen cut shares of PACCAR from a “hold” rating to a “sell” rating in a report on Saturday. Raymond James Financial reissued a “market perform” rating on shares of PACCAR in a research report on Tuesday, October 21st. Finally, UBS Group set a $103.00 target price on shares of PACCAR and gave the stock a “neutral” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and an average price target of $106.59.

Insider Activity

In other news, CEO R Preston Feight sold 39,965 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the sale, the chief executive officer directly owned 223,190 shares of the company’s stock, valued at approximately $22,211,868.80. This trade represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.02% of the company’s stock.

PACCAR Trading Up 0.8%

PACCAR stock opened at $100.13 on Monday. The company has a market capitalization of $52.58 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 4.18 and a beta of 0.94. The company’s fifty day moving average price is $98.52 and its two-hundred day moving average price is $95.79. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.51.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The company’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.85 earnings per share. On average, analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s dividend payout ratio (DPR) is currently 25.83%.

PACCAR Profile

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.