PACCAR Inc. $PCAR Shares Bought by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in PACCAR Inc. by 1.6%, acquiring an additional 97,197 shares, bringing their total ownership to 6,104,056 shares valued at approximately $594 million.
• PACCAR's recent quarterly earnings report showed an EPS of $1.37, exceeding expectations, but revenue decreased by 15.7% year-over-year to $6.96 billion.
• The company announced a quarterly dividend of $0.33 per share, with a yield of 1.3%, and the next payment is scheduled for September 4th.

Dimensional Fund Advisors LP lifted its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,104,056 shares of the company's stock after buying an additional 97,197 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.16% of PACCAR worth $594,277,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. grew its position in PACCAR by 33.1% during the first quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock valued at $45,000 after acquiring an additional 116 shares during the period. RMR Wealth Builders grew its position in PACCAR by 1.4% during the first quarter. RMR Wealth Builders now owns 8,713 shares of the company's stock worth $848,000 after buying an additional 122 shares in the last quarter. Applied Capital LLC FL raised its stake in shares of PACCAR by 0.5% in the first quarter. Applied Capital LLC FL now owns 25,210 shares of the company's stock valued at $2,455,000 after acquiring an additional 124 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in PACCAR by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company's stock worth $4,390,000 after acquiring an additional 130 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its stake in PACCAR by 5.9% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,341 shares of the company's stock worth $228,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Buying and Selling at PACCAR

In related 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 sale, the chief executive officer owned 223,190 shares of the company's stock, valued at approximately $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction that occurred 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 owned 468 shares of the company's stock, valued at approximately $47,239.92. The trade was a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. UBS Group upgraded shares of PACCAR from a "sell" rating to a "neutral" rating and increased their price target for the stock from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Royal Bank Of Canada lowered their price target on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Truist Financial dropped their price objective on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Nine investment analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $107.77.

PACCAR Stock Down 1.5%

NASDAQ PCAR traded down $1.47 during mid-day trading on Friday, reaching $98.22. 1,830,450 shares of the company's stock traded hands, compared to its average volume of 3,201,761. The company has a market cap of $51.58 billion, a price-to-earnings ratio of 16.82, a P/E/G ratio of 3.94 and a beta of 0.91. The company has a fifty day simple moving average of $96.34 and a 200-day simple moving average of $97.01. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.09. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%. The company's quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.13 EPS. As a group, equities research analysts expect that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The business also recently declared 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. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, August 14th. PACCAR's dividend payout ratio (DPR) is currently 22.60%.

About PACCAR

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.