Blueshift Asset Management LLC Invests $335,000 in PACCAR Inc. (NASDAQ:PCAR)

Key Points

• Blueshift Asset Management LLC acquired a new stake in PACCAR Inc., purchasing 3,439 shares valued at approximately $335,000 during the 1st quarter of the year.
• Director Pierre R. Breber increased his ownership by 62.38% by buying 5,000 shares, while CEO R Preston Feight sold 39,965 shares, reducing his ownership by 15.19%.
• PACCAR declared a quarterly dividend of $0.33 per share, which will be issued on September 4th, representing a yield of 1.4%.

Blueshift Asset Management LLC purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 3,439 shares of the company's stock, valued at approximately $335,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Jefferies Financial Group Inc. purchased a new stake in shares of PACCAR in the first quarter worth approximately $210,000. Foster & Motley Inc. raised its stake in shares of PACCAR by 3.6% in the first quarter. Foster & Motley Inc. now owns 79,918 shares of the company's stock worth $7,782,000 after purchasing an additional 2,744 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of PACCAR by 4.3% in the first quarter. Natixis Advisors LLC now owns 1,087,860 shares of the company's stock worth $105,925,000 after purchasing an additional 45,099 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in shares of PACCAR in the first quarter worth approximately $216,000. Finally, Bayforest Capital Ltd raised its stake in shares of PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after purchasing an additional 274 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Up 0.5%

Shares of PCAR traded up $0.46 during mid-day trading on Tuesday, reaching $96.80. The company had a trading volume of 344,464 shares, compared to its average volume of 2,931,344. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a market capitalization of $50.81 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 3.85 and a beta of 0.91. The firm has a 50-day moving average price of $95.47 and a 200 day moving average price of $97.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The company 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 business earned $2.13 EPS. The firm's revenue for the quarter was down 15.7% on a year-over-year basis. On average, sell-side analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently commented on PCAR. Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective for the company in a research note on Monday, July 28th. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Citigroup upped their target price on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Morgan Stanley lowered PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price for the company. in a report on Wednesday, April 16th. Finally, Vertical Research raised PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, PACCAR currently has an average rating of "Moderate Buy" and a consensus price target of $107.77.

Insiders Place Their Bets

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

PACCAR Company 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.