Meeder Advisory Services Inc. Purchases Shares of 15,743 PACCAR Inc. $PCAR

Key Points

• Meeder Advisory Services acquired 15,743 PACCAR shares in the second quarter, worth approximately $1.89 million. Several other institutional investors also initiated positions, with institutions collectively owning 64.90% of the company.
• PACCAR reported quarterly earnings of $1.43 per share, exceeding analyst expectations of $1.36, while revenue reached $7.55 billion versus the $7.05 billion consensus estimate.
• The company declared a quarterly dividend of $0.35, representing an annualized payout of $1.40 and a 1.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $131.70.

Meeder Advisory Services Inc. acquired a new stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,743 shares of the company's stock, valued at approximately $1,891,000.

A number of other hedge funds have also recently made changes to their positions in the business. Meeder Asset Management Inc. bought a new stake in PACCAR during the 2nd quarter valued at approximately $6,806,000. Tiemann Investment Advisors LLC purchased a new position in PACCAR in the 2nd quarter worth approximately $187,000. Citizens Financial Group Inc. RI bought a new position in PACCAR in the 2nd quarter worth approximately $668,000. Auxano Advisors LLC bought a new position in PACCAR in the 2nd quarter worth approximately $371,000. Finally, MidFirst Bank purchased a new stake in PACCAR during the 2nd quarter valued at approximately $238,000. Institutional investors own 64.90% of the company's stock.

PACCAR Price Performance

PCAR stock opened at $128.02 on Wednesday. PACCAR Inc. has a 52 week low of $92.25 and a 52 week high of $139.24. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The company has a fifty day simple moving average of $125.73 and a two-hundred day simple moving average of $121.76. The firm has a market capitalization of $67.38 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.07. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business's quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.37 EPS. Analysts anticipate that PACCAR Inc. will post 5.85 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a $0.35 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 annualized dividend and a yield of 1.1%. PACCAR's dividend payout ratio (DPR) is currently 29.41%.

Analysts Set New Price Targets

Several equities analysts have recently commented on PCAR shares. Citigroup boosted their target price on shares of PACCAR from $125.00 to $140.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th. Weiss Ratings cut shares of PACCAR from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 21st. Wells Fargo & Company lifted their price target on shares of PACCAR from $125.00 to $157.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $148.00 price target on shares of PACCAR in a research note on Wednesday, July 29th. Finally, Morgan Stanley set a $119.00 price objective on shares of PACCAR in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, PACCAR has a consensus rating of "Hold" and a consensus target price of $131.70.

Insider Buying and Selling

In other PACCAR news, CFO Brice J. Poplawski sold 1,970 shares of the business's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $132.50, for a total transaction of $261,025.00. Following the sale, the chief financial officer directly owned 1,391 shares of the company's stock, valued at $184,307.50. The trade was a 58.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Paulo Henrique Bolgar sold 2,897 shares of the company's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.90, for a total value of $387,908.30. Following the sale, the vice president owned 3,831 shares in the company, valued at approximately $512,970.90. This trade represents a 43.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 56,842 shares of company stock valued at $7,565,677. Insiders own 1.99% of the company's stock.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company's products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR's core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.

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