PACCAR Inc. $PCAR Shares Bought by National Pension Service

National Pension Service raised its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,400,624 shares of the company's stock after buying an additional 55,330 shares during the quarter. National Pension Service owned approximately 0.27% of PACCAR worth $168,243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. WINTON GROUP Ltd purchased a new stake in PACCAR in the 2nd quarter valued at $1,401,000. Engineers Gate Manager LP grew its position in PACCAR by 500.9% during the 2nd quarter. Engineers Gate Manager LP now owns 12,937 shares of the company's stock worth $1,554,000 after purchasing an additional 10,784 shares during the last quarter. Cidel Asset Management Inc. grew its position in PACCAR by 5.2% during the 2nd quarter. Cidel Asset Management Inc. now owns 4,759 shares of the company's stock worth $572,000 after purchasing an additional 234 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its stake in PACCAR by 2.9% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,141 shares of the company's stock valued at $377,000 after purchasing an additional 89 shares during the period. Finally, NewEdge Advisors LLC increased its stake in PACCAR by 176.6% in the second quarter. NewEdge Advisors LLC now owns 17,008 shares of the company's stock valued at $2,043,000 after purchasing an additional 10,858 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on PCAR shares. Royal Bank Of Canada raised PACCAR from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $130.00 to $150.00 in a research report on Thursday. Sanford C. Bernstein reissued an "outperform" rating and set a $148.00 price target on shares of PACCAR in a report on Wednesday, July 29th. Truist Financial lifted their price target on PACCAR from $126.00 to $131.00 and gave the company a "hold" rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. increased their target price on PACCAR from $155.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Finally, Morgan Stanley set a $125.00 price objective on PACCAR and gave the company an "equal weight" rating in a research report on Friday, September 4th. Three investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $133.91.

PACCAR Price Performance

Shares of PACCAR stock opened at $122.57 on Friday. The business's fifty day moving average price is $128.00 and its 200 day moving average price is $121.67. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $139.24. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $64.52 billion, a P/E ratio of 25.75, a PEG ratio of 1.40 and a beta of 0.96.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same period last year, the business posted $1.37 EPS. The company's quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts anticipate that PACCAR Inc. will post 5.91 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, August 12th. PACCAR's dividend payout ratio is presently 29.41%.

Insiders Place Their Bets

In other news, VP William Lance Walters sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paulo Henrique Bolgar sold 2,897 shares of PACCAR stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the sale, the vice president owned 3,831 shares of the company's stock, valued at approximately $512,970.90. This trade represents a 43.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 56,842 shares of company stock valued at $7,565,677. Corporate insiders own 1.99% of the company's stock.

PACCAR Profile

PACCAR Inc is a global manufacturer of heavy-duty, medium-duty and light-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company serves the over-the-road, vocational and construction markets, offering vehicles designed for freight transportation and other commercial applications.

In addition to truck manufacturing, PACCAR operates PACCAR Parts, which distributes replacement parts and related services through a global network. The company also provides truck financing and leasing through PACCAR Financial, supporting customers and dealers in several major markets.

PACCAR traces its history to 1905 and has grown from a regional equipment manufacturer into an international transportation company.

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