Commerce Bank bought a new stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 25,452 shares of the company's stock, valued at approximately $3,057,000.
Other large investors also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its stake in PACCAR by 2.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company's stock valued at $45,281,000 after purchasing an additional 9,524 shares in the last quarter. Geode Capital Management LLC raised its position in shares of PACCAR by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company's stock valued at $1,350,867,000 after purchasing an additional 50,622 shares in the last quarter. Vanguard Group Inc. raised its position in shares of PACCAR by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company's stock valued at $6,951,172,000 after purchasing an additional 363,782 shares in the last quarter. Swiss Life Asset Management Ltd boosted its stake in shares of PACCAR by 118.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 638,688 shares of the company's stock valued at $69,943,000 after buying an additional 345,937 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab purchased a new position in shares of PACCAR during the 1st quarter valued at approximately $9,273,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on PCAR. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $155.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Evercore set a $139.00 price objective on shares of PACCAR in a research note on Monday, May 11th. Sanford C. Bernstein reiterated an "outperform" rating and set a $148.00 price objective on shares of PACCAR in a research note on Wednesday, July 29th. Weiss Ratings reissued a "hold (c+)" rating on shares of PACCAR in a report on Tuesday, August 18th. Finally, Morgan Stanley set a $119.00 target price on shares of PACCAR in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of "Hold" and a consensus price target of $131.70.
Get Our Latest Analysis on PACCAR
Insider Buying and Selling at PACCAR
In other PACCAR news, CFO Brice J. Poplawski sold 1,970 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $132.50, for a total transaction of $261,025.00. Following the sale, the chief financial officer directly owned 1,391 shares of the company's stock, valued at approximately $184,307.50. This represents a 58.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William Lance Walters sold 1,000 shares of the firm's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.50, for a total transaction of $133,500.00. The SEC filing for this sale provides additional information. In the last three months, insiders sold 56,842 shares of company stock worth $7,565,677. Company insiders own 1.99% of the company's stock.
PACCAR Trading Down 0.8%
NASDAQ:PCAR opened at $129.94 on Tuesday. The company has a market cap of $68.40 billion, a PE ratio of 27.30, a P/E/G ratio of 1.03 and a beta of 0.97. The business's 50 day moving average is $126.66 and its two-hundred day moving average is $121.89. 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.
PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.07. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The business's quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 EPS. On average, analysts predict that PACCAR Inc. will post 5.89 EPS for the current year.
PACCAR Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR's payout ratio is currently 29.41%.
PACCAR Company Profile
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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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