Ieq Capital LLC Raises Stock Holdings in PACCAR Inc. $PCAR

Key Points

• Ieq Capital LLC increased its stake in PACCAR Inc. by 24.7%, owning 33,546 shares valued at approximately $3.27 million at the end of the latest quarter.
• The company's CFO and CEO recently sold a combined total of approximately $4.48 million in shares, indicating a 91.44% and 15.19% decrease in their ownership respectively.
• PACCAR's quarterly earnings report beat analyst expectations, reporting $1.37 earnings per share despite a 15.7% decline in revenue compared to the previous year.

Ieq Capital LLC lifted its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 24.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,546 shares of the company's stock after purchasing an additional 6,654 shares during the period. Ieq Capital LLC's holdings in PACCAR were worth $3,266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PCAR. Wellington Management Group LLP increased its stake in shares of PACCAR by 20.1% in the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock valued at $1,964,725,000 after buying an additional 3,379,165 shares during the period. Pacer Advisors Inc. grew its stake in PACCAR by 2,957.4% during the first quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company's stock worth $205,469,000 after purchasing an additional 2,041,168 shares during the period. Nuveen LLC acquired a new stake in shares of PACCAR during the 1st quarter worth approximately $125,566,000. Vanguard Group Inc. lifted its position in shares of PACCAR by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock valued at $6,133,914,000 after acquiring an additional 1,113,520 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in PACCAR by 9.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock worth $1,144,578,000 after purchasing an additional 987,805 shares during the period. Institutional investors own 64.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PCAR shares. Royal Bank Of Canada decreased their target price on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research report on Thursday, May 8th. Vertical Research raised PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Citigroup increased their price objective on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. UBS Group upgraded shares of PACCAR from a "sell" rating to a "neutral" rating and upped their price target for the company from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $107.68.

Insiders Place Their Bets

In related news, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the sale, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

PACCAR Trading Up 1.4%

Shares of PCAR traded up $1.37 during midday trading on Thursday, hitting $97.59. The stock had a trading volume of 1,062,665 shares, compared to its average volume of 2,837,868. The stock's 50 day moving average is $98.10 and its 200 day moving average is $96.49. The firm has a market cap of $51.25 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 4.01 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the prior year, the firm posted $2.13 EPS. The firm's revenue was down 15.7% compared to the same quarter last year. As a group, analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR's dividend payout ratio is 22.60%.

PACCAR 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.