Birmingham Capital Management Co. Inc. AL bought a new stake in PACCAR Inc. (NASDAQ:PCAR – Free Report) in the second quarter, HoldingsChannel reports. The fund bought 4,162 shares of the company’s stock, valued at approximately $500,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caisse de depot et placement du Quebec purchased a new position in PACCAR during the second quarter worth approximately $86,036,000. Man Group plc purchased a new stake in shares of PACCAR during the 2nd quarter valued at $35,224,000. Jupiter Topco LLC purchased a new stake in shares of PACCAR during the 2nd quarter valued at $8,042,000. Hsbc Holdings PLC purchased a new stake in shares of PACCAR during the 2nd quarter valued at $236,428,000. Finally, EFG International AG acquired a new stake in shares of PACCAR during the 2nd quarter worth $30,000. Institutional investors and hedge funds own 64.90% of the company’s stock.
PACCAR Stock Performance
Shares of PCAR stock opened at $129.23 on Thursday. The company’s fifty day simple moving average is $127.07 and its 200-day simple moving average is $121.91. PACCAR Inc. has a 52 week low of $92.25 and a 52 week high of $139.24. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. The company has a market cap of $68.02 billion, a PE ratio of 27.15, a P/E/G ratio of 1.02 and a beta of 0.97.
PACCAR Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s payout ratio is currently 29.41%.
Insider Buying and Selling
In other news, CFO Brice J. Poplawski sold 1,970 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $132.50, for a total value of $261,025.00. Following the completion of the sale, the chief financial officer owned 1,391 shares of the company’s stock, valued at $184,307.50. This represents a 58.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO R Preston Feight sold 50,975 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.07, for a total value of $6,783,243.25. Following the completion of the sale, the chief executive officer owned 268,625 shares of the company’s stock, valued at approximately $35,745,928.75. This trade represents a 15.95% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 56,842 shares of company stock worth $7,565,677. Company insiders own 1.99% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently weighed in on the company. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $148.00 target price on shares of PACCAR in a research report on Wednesday, July 29th. Morgan Stanley set a $119.00 price target on PACCAR in a research report on Wednesday, July 29th. JPMorgan Chase & Co. upped their price target on PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Wells Fargo & Company raised their price objective on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, Citigroup lifted their price objective on PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $131.70.
Check Out Our Latest Stock Analysis on PCAR
PACCAR Profile
PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.
In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.
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