Everett Harris & Co. CA Makes New $1.24 Million Investment in PACCAR Inc. $PCAR

Key Points

• Everett Harris & Co. CA acquired 10,333 PACCAR shares worth approximately $1.24 million during the second quarter. Institutional investors collectively own 64.9% of the company.
• PACCAR reported quarterly EPS of $1.43, exceeding estimates of $1.36, while revenue reached $7.55 billion, up 0.5% year over year and above expectations.
• The company declared a quarterly dividend of $0.35 per share, equivalent to a 1.1% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $131.70, while two senior executives recently sold shares.

Everett Harris & Co. CA acquired a new position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,333 shares of the company's stock, valued at approximately $1,241,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ares Financial Consulting LLC acquired a new stake in shares of PACCAR in the 4th quarter valued at about $27,000. MCF Advisors LLC increased its position in PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company's stock worth $28,000 after buying an additional 92 shares during the period. Steph & Co. purchased a new stake in PACCAR in the first quarter valued at approximately $29,000. Elyxium Wealth LLC purchased a new stake in PACCAR in the fourth quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC purchased a new stake in PACCAR in the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Up 0.1%

PACCAR stock opened at $130.79 on Friday. The stock has a 50 day moving average of $125.32 and a two-hundred day moving average of $121.66. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $139.24. The stock has a market capitalization of $68.84 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 1.04 and a beta of 0.97. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. The company's revenue for the quarter was up .5% compared to the same quarter last year. As a group, research analysts expect that PACCAR Inc. will post 5.85 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR's dividend payout ratio (DPR) is 29.41%.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of research reports. Morgan Stanley set a $119.00 target price on shares of PACCAR in a research report on Wednesday, July 29th. JPMorgan Chase & Co. upped their price target on shares of PACCAR from $155.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Evercore set a $139.00 price target on shares of PACCAR in a research note on Monday, May 11th. Weiss Ratings downgraded shares of PACCAR from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 21st. Finally, Sanford C. Bernstein reissued an "outperform" rating and set a $148.00 price objective on shares of PACCAR in a research report on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $131.70.

Insider Activity

In other PACCAR news, CFO Brice J. Poplawski sold 1,970 shares of the business's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $132.50, for a total value of $261,025.00. Following the transaction, the chief financial officer directly owned 1,391 shares of the company's stock, valued at approximately $184,307.50. The trade was a 58.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 50,975 shares of the company's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the transaction, the chief executive officer owned 268,625 shares of the company's stock, valued at approximately $35,745,928.75. The trade was a 15.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 56,842 shares of company stock valued at $7,565,677. Corporate insiders own 1.99% of the company's stock.

PACCAR Profile

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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