IFM Investors Pty Ltd Has $9.40 Million Holdings 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 raised its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 98,902 shares of the company's stock after buying an additional 3,009 shares during the quarter. IFM Investors Pty Ltd's holdings in PACCAR were worth $9,402,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PCAR. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after acquiring an additional 240 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in PACCAR in the 1st quarter worth about $29,000. Sunbelt Securities Inc. increased its position in PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after purchasing an additional 350 shares during the last quarter. Bayforest Capital Ltd increased its position in PACCAR by 234.2% in the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after purchasing an additional 274 shares during the last quarter. Finally, Accent Capital Management LLC acquired a new position in PACCAR in the 1st quarter worth about $40,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

PCAR stock traded down $2.38 during trading on Monday, reaching $97.08. 1,472,590 shares of the stock were exchanged, compared to its average volume of 2,852,349. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81. The company has a market capitalization of $50.98 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 3.99 and a beta of 0.94. The stock has a 50 day simple moving average of $98.81 and a 200-day simple moving average of $95.91. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57.

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, topping the consensus estimate of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same quarter last year, the firm earned $2.13 EPS. PACCAR's revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

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. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, November 12th. PACCAR's payout ratio is 22.60%.

Analyst Ratings Changes

PCAR has been the topic of a number of research reports. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. increased their price objective on PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Citigroup increased their price target on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. UBS Group upgraded shares of PACCAR from a "sell" rating to a "neutral" rating and increased their price target for the stock from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Finally, Truist Financial dropped their price target 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. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $107.68.

Insider Activity

In other news, CFO Brice J. Poplawski sold 5,000 shares of PACCAR 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 sale, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,239.92. The trade was a 91.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by insiders.

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.