Beacon Pointe Advisors LLC acquired a new position in PACCAR Inc. (NASDAQ:PCAR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,536 shares of the company's stock, valued at approximately $1,386,000.
Several other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its position in shares of PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock valued at $9,258,000 after buying an additional 290 shares during the last quarter. Focus Partners Wealth boosted its stake in PACCAR by 15.4% in the first quarter. Focus Partners Wealth now owns 13,604 shares of the company's stock valued at $1,324,000 after acquiring an additional 1,812 shares during the period. Treasurer of the State of North Carolina boosted its stake in PACCAR by 2.3% in the second quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company's stock valued at $22,886,000 after acquiring an additional 5,327 shares during the period. Ieq Capital LLC grew its holdings in shares of PACCAR by 11.5% during the second quarter. Ieq Capital LLC now owns 37,404 shares of the company's stock valued at $3,556,000 after purchasing an additional 3,858 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of PACCAR during the second quarter valued at approximately $81,000. Institutional investors own 64.90% of the company's stock.
Insider Activity at PACCAR
In related news, VP Paulo Henrique Bolgar sold 2,897 shares of the firm's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the transaction, the vice president owned 3,831 shares in the company, valued at $512,970.90. This trade represents a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO R Preston Feight sold 50,975 shares of the business'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 sale, the chief executive officer directly owned 268,625 shares in the company, valued at approximately $35,745,928.75. The trade was a 15.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 56,842 shares of company stock valued at $7,565,677 over the last quarter. Corporate insiders own 1.99% of the company's stock.
Wall Street Analysts Forecast Growth
PCAR has been the subject of a number of analyst reports. Evercore set a $139.00 price objective on PACCAR in a research report on Monday, May 11th. 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. JPMorgan Chase & Co. raised their target price on PACCAR from $155.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Weiss Ratings reissued a "hold (c+)" rating on shares of PACCAR in a report on Tuesday, August 18th. Finally, Citigroup upped their price target on shares of PACCAR from $125.00 to $140.00 and gave the stock a "neutral" rating in a research report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, PACCAR presently has a consensus rating of "Hold" and a consensus price target of $131.70.
Get Our Latest Report on PCAR
PACCAR Stock Performance
NASDAQ:PCAR opened at $125.34 on Monday. PACCAR Inc. has a 1 year low of $92.25 and a 1 year high of $139.24. The stock has a market cap of $65.97 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 0.99 and a beta of 0.97. The business has a fifty day moving average of $127.35 and a 200-day moving average of $121.89. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12.
PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period last year, the company earned $1.37 earnings per share. The company's quarterly revenue was up .5% compared to the same quarter last year. Equities analysts predict that PACCAR Inc. will post 5.89 earnings per share for the current year.
PACCAR Announces Dividend
The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 annualized dividend and a yield of 1.1%. PACCAR's dividend payout ratio (DPR) is presently 29.41%.
About PACCAR
(
Free Report)
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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