Corient IA LLC Purchases Shares of 3,500 PACCAR Inc. $PCAR

Key Points

• Corient IA LLC has acquired 3,500 shares of PACCAR Inc. for approximately $341,000, marking a new position for the firm in the company during the 1st quarter.
• PACCAR reported $1.37 EPS for the last quarter, surpassing estimates, but witnessed a year-over-year revenue decline of 15.7% to $6.96 billion.
• The company announced a quarterly dividend of $0.33, payable on September 4th, representing an annualized yield of 1.3% with a dividend payout ratio of 22.60%.

Corient IA LLC bought a new stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,500 shares of the company's stock, valued at approximately $341,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in shares of PACCAR by 15.1% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company's stock valued at $77,404,000 after purchasing an additional 104,281 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of PACCAR by 62.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company's stock valued at $3,533,000 after purchasing an additional 13,904 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in PACCAR by 51.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company's stock worth $1,262,000 after buying an additional 4,429 shares in the last quarter. Moran Wealth Management LLC grew its position in PACCAR by 28.8% during the first quarter. Moran Wealth Management LLC now owns 235,167 shares of the company's stock worth $22,898,000 after buying an additional 52,525 shares in the last quarter. Finally, Stack Financial Management Inc acquired a new stake in PACCAR during the first quarter worth approximately $20,585,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 39,965 shares of the company's 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 directly owned 223,190 shares of the company's stock, valued at approximately $22,211,868.80. This represents a 15.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the transaction, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

PACCAR Trading Down 0.7%

NASDAQ:PCAR traded down $0.64 during trading hours on Thursday, hitting $97.54. 1,410,106 shares of the company were exchanged, compared to its average volume of 2,872,701. The stock has a market capitalization of $51.22 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 3.99 and a beta of 0.91. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81. The company has a fifty day simple moving average of $96.60 and a 200 day simple moving average of $96.95.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same period last year, the company earned $2.13 EPS. PACCAR's revenue for the quarter was down 15.7% compared to the same quarter last year. Sell-side analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Thursday, August 14th. PACCAR's dividend payout ratio (DPR) is presently 22.60%.

Analysts Set New Price Targets

PCAR has been the topic of a number of analyst reports. Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target on the stock in a research report on Monday, July 28th. UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and increased their price target for the stock from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Evercore ISI set a $114.00 price target on PACCAR and gave the stock an "outperform" rating in a research report on Tuesday. JPMorgan Chase & Co. upped their target price on PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Vertical Research upgraded PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, PACCAR has a consensus rating of "Moderate Buy" and a consensus price target of $107.68.

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.