Jupiter Topco LLC acquired a new stake in PACCAR Inc. (NASDAQ:PCAR – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 66,969 shares of the company’s stock, valued at approximately $8,042,000.
Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after purchasing an additional 290 shares during the last quarter. Focus Partners Wealth raised its position in PACCAR by 15.4% in the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after purchasing an additional 1,812 shares during the last quarter. Treasurer of the State of North Carolina raised its position in PACCAR by 2.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock worth $22,886,000 after purchasing an additional 5,327 shares during the last quarter. Ieq Capital LLC lifted its holdings in PACCAR by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after buying an additional 3,858 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in PACCAR during the 2nd quarter worth $81,000. 64.90% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on PCAR. Sanford C. Bernstein reiterated an “outperform” rating and issued a $148.00 price objective on shares of PACCAR in a research report on Wednesday, July 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PACCAR in a research note on Tuesday, August 18th. Evercore set a $139.00 price target on PACCAR in a report on Monday, May 11th. Morgan Stanley set a $119.00 price objective on PACCAR in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $131.70.
Insider Activity
In other PACCAR news, VP William Lance Walters sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.50, for a total value of $133,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brice J. Poplawski sold 1,970 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $132.50, for a total transaction of $261,025.00. Following the completion of the sale, the chief financial officer owned 1,391 shares in the company, valued at approximately $184,307.50. This trade represents a 58.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 56,842 shares of company stock worth $7,565,677 over the last quarter. 1.99% of the stock is owned by insiders.
PACCAR Stock Performance
NASDAQ PCAR opened at $125.34 on Monday. The stock has a 50-day simple moving average of $127.35 and a 200 day simple moving average of $121.89. The company has a market capitalization of $65.97 billion, a PE ratio of 26.33, a P/E/G ratio of 0.99 and a beta of 0.97. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $139.24.
PACCAR (NASDAQ:PCAR – Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The company’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business earned $1.37 earnings per share. Research analysts forecast that PACCAR Inc. will post 5.89 EPS for the current year.
PACCAR Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a $0.35 dividend. 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 dividend payout ratio (DPR) is currently 29.41%.
PACCAR Company 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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