First Pacific Financial Takes $288,000 Position in PACCAR Inc. $PCAR

Key Points

• First Pacific Financial has acquired a new stake in PACCAR Inc. valued at approximately $288,000, purchasing 3,032 shares during the second quarter.
• Several hedge funds have also increased their holdings in PACCAR, with Wellington Management Group buying an additional 3,379,165 shares, raising its position by 20.1%.
• PACCAR will pay a quarterly dividend of $0.33 on December 3rd to stockholders of record by November 12th, representing a 1.4% dividend yield.

First Pacific Financial bought a new stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,032 shares of the company's stock, valued at approximately $288,000.

A number of other hedge funds have also modified their holdings of PCAR. Wellington Management Group LLP raised its position in shares of PACCAR by 20.1% in the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock valued at $1,964,725,000 after buying an additional 3,379,165 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of PACCAR by 2,957.4% in the first quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company's stock valued at $205,469,000 after buying an additional 2,041,168 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of PACCAR by 177.9% in the first quarter. The Manufacturers Life Insurance Company now owns 2,620,798 shares of the company's stock valued at $255,187,000 after buying an additional 1,677,736 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of PACCAR by 16,393.9% in the first quarter. Jones Financial Companies Lllp now owns 1,431,672 shares of the company's stock valued at $139,402,000 after buying an additional 1,422,992 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of PACCAR in the first quarter valued at about $125,566,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PCAR shares. Vertical Research upgraded shares of PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Citigroup upped their price objective on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective for the company in a report on Monday, July 28th. UBS Group raised shares of PACCAR from a "sell" rating to a "neutral" rating and upped their price objective for the company from $81.00 to $100.00 in a report on Wednesday, July 23rd. Finally, Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Two investment 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 data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $107.68.

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 39,965 shares of the firm's stock in a transaction that occurred 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 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. The trade was a 15.19% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

PACCAR Trading Down 0.6%

Shares of PCAR stock opened at $97.71 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. The firm has a market cap of $51.31 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 3.99 and a beta of 0.94. The company has a 50-day moving average of $99.15 and a two-hundred day moving average of $95.68. 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 announced its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.09. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. PACCAR's revenue was down 15.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.13 earnings per share. On average, analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. PACCAR's dividend payout ratio (DPR) is presently 22.60%.

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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