Hotchkis & Wiley Capital Management LLC Has $208.26 Million Holdings in PACCAR Inc. $PCAR

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its holdings in PACCAR Inc. by 0.3% in Q1, now owning approximately 2.14 million shares valued at $208.26 million.
• Vanguard Group Inc. significantly increased its stake by 1.8% during the same period, currently holding 62.99 million shares worth over $6.13 billion.
• PACCAR recently announced a quarterly dividend of $0.33, with an annual yield of 1.3%, payable on September 4th to investors of record by August 14th.

Hotchkis & Wiley Capital Management LLC reduced its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 0.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,138,846 shares of the company's stock after selling 5,850 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.41% of PACCAR worth $208,259,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Farmers & Merchants Investments Inc. increased its holdings in shares of PACCAR by 33.1% during the first quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock worth $45,000 after buying an additional 116 shares in the last quarter. RMR Wealth Builders grew its stake in shares of PACCAR by 1.4% in the first quarter. RMR Wealth Builders now owns 8,713 shares of the company's stock worth $848,000 after purchasing an additional 122 shares during the last quarter. Applied Capital LLC FL grew 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 worth $2,455,000 after purchasing an additional 124 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of PACCAR by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 45,087 shares of the company's stock worth $4,390,000 after purchasing an additional 130 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC grew its stake in shares of PACCAR by 5.9% in the first 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 last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Down 0.3%

Shares of NASDAQ PCAR traded down $0.26 during trading on Tuesday, hitting $100.25. 2,420,483 shares of the company traded hands, compared to its average volume of 2,390,064. The business's fifty day moving average is $97.02 and its 200 day moving average is $96.64. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The firm has a market capitalization of $52.64 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 4.04 and a beta of 0.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $7.02 billion. During the same quarter in the prior year, the business earned $2.13 earnings per share. The business's quarterly revenue was down 15.7% compared to the same quarter last year. Equities research analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

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

Insider Activity

In other news, CEO R Preston Feight sold 39,965 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 223,190 shares in the company, valued at approximately $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer owned 468 shares in the company, valued at $47,239.92. This represents a 91.44% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PCAR has been the topic of several analyst reports. UBS Group raised shares of PACCAR from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Truist Financial reduced their price objective on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Finally, Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective on the stock in a research note on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of "Moderate Buy" and an average price target of $107.68.

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.