IFM Investors Pty Ltd Boosts Position in PACCAR Inc. $PCAR

Key Points

• IFM Investors Pty Ltd increased its holdings in PACCAR Inc. by 3.1%, bringing its total ownership to 98,902 shares valued at approximately $9.4 million.
• Several institutional investors, including MEAG MUNICH ERGO and Cambridge Investment Research Advisors, have also increased their stakes in PACCAR recently, contributing to a total of 64.90% of the stock being owned by institutional investors.
• PACCAR recently reported earnings of $1.37 per share for the last quarter, exceeding analyst expectations, despite a 15.7% year-over-year revenue decline.

IFM Investors Pty Ltd lifted its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,902 shares of the company's stock after acquiring an additional 3,009 shares during the period. IFM Investors Pty Ltd's holdings in PACCAR were worth $9,402,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of PACCAR by 666.7% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after buying an additional 240 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in shares of PACCAR during the 1st quarter valued at $29,000. Sunbelt Securities Inc. grew its position in shares of PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after purchasing an additional 350 shares in the last quarter. Bayforest Capital Ltd grew its position in shares of PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock valued at $38,000 after purchasing an additional 274 shares in the last quarter. Finally, Accent Capital Management LLC purchased a new position in PACCAR in the first quarter worth $40,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PCAR. JPMorgan Chase & Co. upped their price target 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. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target for the company in a research note on Monday, July 28th. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Finally, Citigroup increased their price target on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, PACCAR presently has an average rating of "Moderate Buy" and an average target price of $107.68.

PACCAR Trading Up 1.2%

Shares of PCAR traded up $1.19 during trading hours on Tuesday, reaching $98.26. 300,393 shares of the company traded hands, compared to its average volume of 2,844,425. The firm has a market cap of $51.59 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 3.99 and a beta of 0.94. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The stock's fifty day moving average price is $98.83 and its 200 day moving average price is $95.82.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, topping 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 company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same period in the prior year, the firm earned $2.13 earnings per share. The firm's revenue for the quarter was down 15.7% compared to the same quarter last year. Sell-side analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.3%. PACCAR's dividend payout ratio (DPR) is 22.60%.

Insiders Place Their Bets

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction on Friday, July 25th. The stock was 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. This trade represents a 91.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value 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. This represents a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

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.