Ancora Advisors LLC Has $9.15 Million Stock Position in PACCAR Inc. $PCAR

Key Points

• Ancora Advisors LLC increased its stake in PACCAR Inc. by 11.0%, acquiring an additional 9,286 shares, bringing their total holdings to 94,012 shares, valued at approximately $9.15 million.
• The company recently declared a $0.33 quarterly dividend, which will be payable on September 4th, with a current dividend yield of 1.3%.
• PACCAR reported a quarterly EPS of $1.37, exceeding estimates, despite a 15.7% decline in revenue compared to the previous year, totaling $6.96 billion.

Ancora Advisors LLC raised its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 11.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 94,012 shares of the company's stock after buying an additional 9,286 shares during the period. Ancora Advisors LLC's holdings in PACCAR were worth $9,154,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in PACCAR by 1.8% during the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock worth $6,133,914,000 after buying an additional 1,113,520 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of PACCAR by 20.1% during the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock valued at $1,964,725,000 after acquiring an additional 3,379,165 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of PACCAR by 9.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock valued at $1,144,578,000 after acquiring an additional 987,805 shares during the period. Northern Trust Corp raised its holdings in shares of PACCAR by 0.5% during the first quarter. Northern Trust Corp now owns 7,239,967 shares of the company's stock valued at $704,956,000 after acquiring an additional 37,609 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of PACCAR by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company's stock valued at $594,277,000 after acquiring an additional 97,197 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PCAR shares. Citigroup boosted their price target on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. UBS Group upgraded shares of PACCAR from a "sell" rating to a "neutral" rating and boosted their price target for the company from $81.00 to $100.00 in a report on Wednesday, July 23rd. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.68.

PACCAR Stock Up 0.9%

NASDAQ:PCAR traded up $0.84 during mid-day trading on Friday, reaching $99.05. The stock had a trading volume of 2,084,012 shares, compared to its average volume of 1,990,258. The business's 50 day moving average is $98.25 and its 200 day moving average is $96.31. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The stock has a market cap of $52.01 billion, a P/E ratio of 16.96, a PEG ratio of 3.98 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share 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 firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same period in the previous year, the company earned $2.13 EPS. The company's revenue for the quarter was down 15.7% on a year-over-year basis. As a group, sell-side analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.3%. The ex-dividend date was Thursday, August 14th. PACCAR's dividend payout ratio (DPR) is 22.60%.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the transaction, the chief financial officer owned 468 shares in the company, valued at $47,239.92. This trade represents a 91.44% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

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.