PACCAR Inc. (NASDAQ:PCAR) Shares Acquired by IFM Investors Pty Ltd

IFM Investors Pty Ltd lifted its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,899 shares of the company's stock after acquiring an additional 8,006 shares during the quarter. IFM Investors Pty Ltd's holdings in PACCAR were worth $10,253,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. lifted its holdings in shares of PACCAR by 8.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock worth $8,916,000 after purchasing an additional 6,494 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of PACCAR by 6.1% in the 4th quarter. LPL Financial LLC now owns 212,405 shares of the company's stock worth $22,094,000 after purchasing an additional 12,143 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of PACCAR by 15.8% in the 4th quarter. American Century Companies Inc. now owns 631,369 shares of the company's stock worth $65,675,000 after purchasing an additional 86,215 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in shares of PACCAR by 15.1% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company's stock worth $77,404,000 after purchasing an additional 104,281 shares during the last quarter. Finally, Natixis Advisors LLC lifted its holdings in shares of PACCAR by 20.8% in the 4th quarter. Natixis Advisors LLC now owns 1,042,761 shares of the company's stock worth $108,468,000 after purchasing an additional 179,577 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Price Performance

Shares of PCAR traded up $2.06 during midday trading on Tuesday, reaching $98.70. The stock had a trading volume of 2,833,205 shares, compared to its average volume of 2,724,311. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 2.19. The firm's 50 day moving average price is $93.71 and its 200-day moving average price is $99.01. The company has a market capitalization of $51.81 billion, a P/E ratio of 14.95, a P/E/G ratio of 3.57 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same period in the prior year, the firm posted $2.27 EPS. The firm's quarterly revenue was down 16.0% on a year-over-year basis. On average, analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.34%. PACCAR's dividend payout ratio is presently 20.00%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PCAR. Royal Bank Of Canada cut their price target on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a report on Thursday, May 8th. Citigroup raised their price target on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. UBS Group downgraded PACCAR from a "neutral" rating to a "sell" rating and cut their target price for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Melius Research set a $120.00 target price on PACCAR in a research note on Tuesday, March 18th. Finally, Morgan Stanley downgraded PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price on the stock. in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $104.59.

Insider Activity at PACCAR

In related news, Director Pierre R. Breber bought 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the acquisition, the director directly owned 13,015 shares of the company's stock, valued at $1,168,486.70. The trade was a 62.38% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.02% of the company's stock.

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.