10,656 Shares in PACCAR Inc. $PCAR Purchased by Plato Investment Management Ltd

Key Points

• Plato Investment Management acquired 10,656 PACCAR shares worth approximately $1.27 million, while institutional investors collectively own 64.9% of the company.
• PACCAR exceeded quarterly expectations, reporting $1.43 in adjusted earnings per share versus a $1.36 consensus estimate and $7.55 billion in revenue versus $7.05 billion expected.
• The company declared a quarterly dividend of $0.35 per share, or $1.40 annualized, representing a 1.1% yield; analysts maintain a consensus “Hold” rating with a $131.70 price target.

Plato Investment Management Ltd acquired a new stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,656 shares of the company's stock, valued at approximately $1,273,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ares Financial Consulting LLC purchased a new position in PACCAR in the 4th quarter valued at approximately $27,000. Steph & Co. purchased a new stake in shares of PACCAR during the first quarter worth $29,000. MCF Advisors LLC lifted its position in shares of PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company's stock worth $28,000 after acquiring an additional 92 shares in the last quarter. Elyxium Wealth LLC bought a new position in shares of PACCAR in the fourth quarter worth $30,000. Finally, Camelot Portfolios LLC bought a new position in shares of PACCAR in the fourth quarter worth $33,000. Institutional investors own 64.90% of the company's stock.

PACCAR Trading Up 0.0%

Shares of PCAR opened at $130.84 on Tuesday. The firm's 50 day simple moving average is $125.57 and its 200 day simple moving average is $121.73. The company has a market capitalization of $68.87 billion, a P/E ratio of 27.49, a P/E/G ratio of 1.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $139.24.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.36 by $0.07. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company earned $1.37 EPS. Sell-side analysts forecast that PACCAR Inc. will post 5.85 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued 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 dividend payout ratio is currently 29.41%.

Analyst Ratings Changes

A number of analysts recently issued reports on PCAR shares. Weiss Ratings lowered PACCAR from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 21st. Evercore set a $139.00 target price on PACCAR in a research note on Monday, May 11th. Morgan Stanley set a $119.00 target price on PACCAR in a report on Wednesday, July 29th. Citigroup upped their price target on PACCAR from $125.00 to $140.00 and gave the company a "neutral" rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company increased their price target on shares of PACCAR from $125.00 to $157.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, PACCAR presently has a consensus rating of "Hold" and a consensus price target of $131.70.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 50,975 shares of the firm's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.07, for a total value of $6,783,243.25. Following the completion of the transaction, the chief executive officer owned 268,625 shares in the company, valued at $35,745,928.75. This trade represents a 15.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brice J. Poplawski sold 1,970 shares of the business's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $132.50, for a total transaction of $261,025.00. Following 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 position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 56,842 shares of company stock worth $7,565,677. Insiders own 1.99% of the company's stock.

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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