APG Asset Management N.V. Has $29.98 Million Stake in PACCAR Inc. $PCAR

Key Points

• APG Asset Management N.V. reduced its stake in PACCAR Inc. by 2.9%, now owning approximately 332,600 shares valued at $29.98 million.
• The CEO, R Preston Feight, sold 39,965 shares of PACCAR stock for about $3.98 million, representing a 15.19% decrease in his holdings.
• PACCAR announced a quarterly dividend of $0.33 per share, with a payout ratio of 22.60%, to be paid on September 4th.

APG Asset Management N.V. decreased its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 332,600 shares of the company's stock after selling 9,900 shares during the quarter. APG Asset Management N.V. owned approximately 0.06% of PACCAR worth $29,981,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PCAR. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after acquiring an additional 240 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of PACCAR during the 1st quarter valued at $29,000. Sunbelt Securities Inc. boosted its holdings in shares of PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after acquiring an additional 350 shares in the last quarter. Bayforest Capital Ltd boosted its holdings in shares of PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock valued at $38,000 after acquiring an additional 274 shares in the last quarter. Finally, Accent Capital Management LLC acquired a new stake in shares of PACCAR during the 1st quarter valued at $40,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Activity

In other news, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the completion of the transaction, the chief executive officer directly owned 223,190 shares of the company's stock, valued at approximately $22,211,868.80. This trade represents a 15.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the transaction, the chief financial officer directly owned 468 shares of the company's stock, 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 Stock Up 4.1%

Shares of NASDAQ:PCAR opened at $101.50 on Friday. The firm has a market cap of $53.30 billion, a P/E ratio of 17.38, a P/E/G ratio of 4.07 and a beta of 0.91. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The business has a fifty day simple moving average of $96.87 and a 200 day simple moving average of $96.75.

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. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.PACCAR's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the company earned $2.13 EPS. Analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. PACCAR's dividend payout ratio (DPR) is 22.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Vertical Research raised PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective on the stock in a report on Monday, July 28th. UBS Group raised PACCAR from a "sell" rating to a "neutral" rating and raised their price objective for the company from $81.00 to $100.00 in a report on Wednesday, July 23rd. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Evercore ISI set a $114.00 target price on PACCAR and gave the stock an "outperform" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, PACCAR presently has an average rating of "Moderate Buy" and a consensus target price 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.

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