Longbow Finance SA Takes Position in PACCAR Inc. (NASDAQ:PCAR)

Key Points

• Longbow Finance SA has acquired a new stake in PACCAR Inc. (NASDAQ:PCAR), purchasing 56,593 shares valued at approximately $5.51 million.
• Several institutional investors have modified their positions in PACCAR, with hedge funds collectively owning 64.90% of the company's stock.
• PACCAR announced a quarterly dividend of $0.33 per share, representing an annualized dividend yield of 1.30%.

Longbow Finance SA bought a new stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 56,593 shares of the company's stock, valued at approximately $5,510,000.

Several other hedge funds have also recently added to or reduced their stakes in PCAR. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of PACCAR by 666.7% during the first 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 in the last quarter. Meeder Asset Management Inc. grew its holdings in shares of PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after buying an additional 193 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in PACCAR in the first quarter valued at approximately $29,000. Sunbelt Securities Inc. grew its holdings in PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after purchasing an additional 350 shares during the period. Finally, JFS Wealth Advisors LLC grew its holdings in PACCAR by 64.9% in the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock valued at $43,000 after purchasing an additional 174 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PACCAR

In other news, Director Pierre R. Breber acquired 5,000 shares of PACCAR stock in a transaction on Tuesday, May 6th. The stock was bought at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the purchase, the director owned 13,015 shares of the company's stock, valued at $1,168,486.70. This represents a 62.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $504,700.00. Following the completion of 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.

PACCAR Stock Performance

Shares of PACCAR stock traded up $0.14 during trading on Friday, hitting $101.57. 2,983,287 shares of the stock were exchanged, compared to its average volume of 3,344,924. The stock's fifty day moving average is $95.03 and its 200 day moving average is $98.28. The stock has a market cap of $53.32 billion, a PE ratio of 17.39, a P/E/G ratio of 4.04 and a beta of 0.94. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 1.73. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.28 by $0.09. The business 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%. The company's quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.13 earnings per share. As a group, sell-side analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a $0.33 dividend. 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 1.30%. PACCAR's dividend payout ratio is presently 22.60%.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of recent analyst reports. Royal Bank Of Canada lowered their target price on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a report on Wednesday. UBS Group upgraded shares of PACCAR from a "sell" rating to a "neutral" rating and boosted their target price for the company from $81.00 to $100.00 in a report on Wednesday. Evercore ISI reduced their price target on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a research report on Monday, May 19th. Finally, Vertical Research raised shares of PACCAR to a "strong-buy" rating in a research report on Wednesday. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $106.45.

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.