Berkeley Capital Partners LLC Purchases Shares of 14,311 PACCAR Inc. $PCAR

Berkeley Capital Partners LLC purchased a new stake in PACCAR Inc. (NASDAQ:PCAR) in the second quarter, Holdings Channel reports. The institutional investor purchased 14,311 shares of the company’s stock, valued at approximately $1,360,000.

A number of other hedge funds also recently bought and sold shares of PCAR. E Fund Management Hong Kong Co. Ltd. lifted its stake in PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock valued at $27,000 after buying an additional 240 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its stake in PACCAR by 53.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after buying an additional 100 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in PACCAR during the first quarter valued at about $29,000. Bayforest Capital Ltd lifted its stake in PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock valued at $38,000 after buying an additional 274 shares in the last quarter. Finally, Accent Capital Management LLC purchased a new stake in PACCAR during the first quarter valued at about $40,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 223,190 shares in the company, valued at $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 is available at the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,239.92. This trade 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.

PACCAR Trading Up 2.9%

NASDAQ:PCAR opened at $97.48 on Tuesday. The stock’s 50 day moving average price is $98.48 and its 200 day moving average price is $95.48. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a market capitalization of $51.19 billion, a P/E ratio of 16.69, a P/E/G ratio of 3.87 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02.

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

PACCAR Dividend Announcement

The business 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. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date is Wednesday, November 12th. PACCAR’s dividend payout ratio (DPR) is 22.60%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $97.00 to $103.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Argus upgraded PACCAR from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a report on Monday, July 28th. Zacks Research downgraded PACCAR from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Finally, Vertical Research upgraded PACCAR to a “strong-buy” rating in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $108.14.

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.