Flputnam Investment Management Co. 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 45,426 shares of the company's stock, valued at approximately $5,457,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in PACCAR in the fourth quarter worth $727,745,000. Bank of New York Mellon Corp acquired a new position in shares of PACCAR during the second quarter valued at $453,107,000. Wellington Management Group LLP boosted its holdings in shares of PACCAR by 18.6% during the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company's stock valued at $2,516,272,000 after acquiring an additional 3,597,283 shares during the period. UBS Group AG grew its position in shares of PACCAR by 74.4% during the fourth quarter. UBS Group AG now owns 4,548,861 shares of the company's stock worth $498,146,000 after acquiring an additional 1,940,260 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of PACCAR by 129.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,275,921 shares of the company's stock worth $249,237,000 after acquiring an additional 1,286,056 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.
PACCAR Price Performance
Shares of NASDAQ:PCAR opened at $130.79 on Monday. The company's fifty day moving average is $125.32 and its two-hundred day moving average is $121.66. The company has a market cap of $68.84 billion, a P/E ratio of 27.48, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $139.24. 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 (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business had revenue of $7.55 billion during the quarter, compared to analysts' expectations of $7.05 billion. During the same period last year, the company posted $1.37 earnings per share. The firm's quarterly revenue was up .5% compared to the same quarter last year. Equities analysts expect that PACCAR Inc. will post 5.85 earnings per share for the current fiscal year.
PACCAR Announces Dividend
The business 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 $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR's payout ratio is 29.41%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on PCAR shares. Citigroup lifted their price target on PACCAR from $125.00 to $140.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. Morgan Stanley set a $119.00 target price on PACCAR in a research report on Wednesday, July 29th. Sanford C. Bernstein reiterated an "outperform" rating and set a $148.00 price target on shares of PACCAR in a research report on Wednesday, July 29th. Truist Financial increased their price target on PACCAR from $126.00 to $131.00 and gave the stock a "hold" rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings cut shares of PACCAR from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 21st. Three analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $131.70.
Read Our Latest Analysis on PACCAR
Insider Buying and Selling
In related news, VP William Lance Walters sold 1,000 shares of the firm's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paulo Henrique Bolgar sold 2,897 shares of the firm's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.90, for a total transaction of $387,908.30. Following the transaction, the vice president directly owned 3,831 shares of the company's stock, valued at $512,970.90. The trade was a 43.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 56,842 shares of company stock worth $7,565,677 over the last ninety days. Company insiders own 1.99% of the company's stock.
PACCAR Company Profile
(
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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