BlackRock Inc. purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 41,023,312 shares of the company's stock, valued at approximately $4,927,720,000. BlackRock Inc. owned about 7.79% of PACCAR at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Deseret Mutual Benefit Administrators grew its holdings in PACCAR by 9.9% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company's stock valued at $97,000 after purchasing an additional 80 shares during the period. Gulf International Bank UK Ltd raised its position in shares of PACCAR by 0.3% during the 4th quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company's stock worth $2,869,000 after purchasing an additional 81 shares during the last quarter. CYBER HORNET ETFs LLC raised its position in shares of PACCAR by 6.2% during the 4th quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company's stock worth $163,000 after purchasing an additional 87 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in PACCAR by 3.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company's stock valued at $317,000 after buying an additional 87 shares in the last quarter. Finally, MCF Advisors LLC boosted its holdings in PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company's stock worth $28,000 after buying an additional 92 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.
PACCAR Stock Down 2.2%
PCAR opened at $128.02 on Wednesday. The company has a market cap of $67.38 billion, a PE ratio of 26.90, a P/E/G ratio of 1.04 and a beta of 0.97. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a 52 week low of $92.25 and a 52 week high of $139.24. The business has a 50 day moving average price of $125.73 and a two-hundred day moving average price of $121.76.
PACCAR (NASDAQ:PCAR - Get Free Report) last released its 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 during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter last year, the company earned $1.37 earnings per share. PACCAR's quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts anticipate that PACCAR Inc. will post 5.85 EPS for the current year.
PACCAR Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR's dividend payout ratio (DPR) is 29.41%.
Insiders Place Their Bets
In other news, VP Paulo Henrique Bolgar sold 2,897 shares of the company's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.90, for a total value of $387,908.30. Following the transaction, the vice president directly owned 3,831 shares of the company's stock, valued at approximately $512,970.90. This represents a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO R Preston Feight sold 50,975 shares of the company's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the completion of the sale, the chief executive officer owned 268,625 shares of the company's stock, valued at $35,745,928.75. This represents a 15.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 56,842 shares of company stock worth $7,565,677. Insiders own 1.99% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on PCAR shares. JPMorgan Chase & Co. increased their price objective on PACCAR from $155.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Evercore set a $139.00 target price on shares of PACCAR in a research note on Monday, May 11th. Weiss Ratings lowered shares of PACCAR from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, May 21st. Wells Fargo & Company increased their target price on shares of PACCAR from $125.00 to $157.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Finally, Morgan Stanley set a $119.00 price target on shares of PACCAR in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, PACCAR currently has a consensus rating of "Hold" and an average price target of $131.70.
Read Our Latest Report on PACCAR
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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