Harfst & Associates Inc. Invests $606,000 in PACCAR Inc. (NASDAQ:PCAR)

Key Points

• Harfst & Associates Inc. has acquired a new stake in PACCAR Inc., purchasing 6,224 shares valued at approximately $606,000 in the first quarter.
• PACCAR recently reported earnings of $1.37 per share, exceeding analyst expectations by $0.09, although their quarterly revenue of $6.96 billion fell short of estimates.
• The company announced a quarterly dividend of $0.33, scheduled to be paid on September 4th, with a dividend yield of 1.3%.

Harfst & Associates Inc. acquired a new position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 6,224 shares of the company's stock, valued at approximately $606,000.

Other large investors also recently modified their holdings of the company. Kovitz Investment Group Partners LLC lifted its position in PACCAR by 370.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock valued at $557,453,000 after purchasing an additional 4,219,964 shares during the last quarter. Pacer Advisors Inc. lifted its position in PACCAR by 2,957.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company's stock valued at $205,469,000 after purchasing an additional 2,041,168 shares during the last quarter. Nuveen LLC bought a new stake in PACCAR in the 1st quarter valued at about $125,566,000. Vanguard Group Inc. lifted its position in PACCAR by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock valued at $6,133,914,000 after purchasing an additional 1,113,520 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in PACCAR by 9.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock valued at $1,144,578,000 after purchasing an additional 987,805 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Trading Down 1.5%

Shares of PACCAR stock traded down $1.47 during trading on Friday, hitting $98.22. The stock had a trading volume of 1,830,450 shares, compared to its average volume of 3,295,420. The stock has a 50 day simple moving average of $96.34 and a 200 day simple moving average of $97.12. The company has a market capitalization of $51.58 billion, a PE ratio of 16.82, a P/E/G ratio of 3.94 and a beta of 0.91. The company has a quick ratio of 2.80, a current ratio of 3.02 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 announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating 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 firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the previous year, the firm posted $2.13 earnings per share. The firm's revenue was down 15.7% on a year-over-year basis. On average, research analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR's payout ratio is presently 22.60%.

Insider Activity at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of the business'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 sale, the chief financial officer directly owned 468 shares of the company's stock, valued at $47,239.92. The trade was a 91.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the sale, the chief executive officer directly owned 223,190 shares of the company's stock, valued at $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. Insiders own 2.02% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Royal Bank Of Canada dropped their price target on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Vertical Research upgraded shares of PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. UBS Group upgraded shares of PACCAR from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $81.00 to $100.00 in a report on Wednesday, July 23rd. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Citigroup boosted their target price on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Nine equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $107.77.

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.