PACCAR Inc. $PCAR Stake Raised by Cwm LLC

Key Points

• Cwm LLC increased its stake in PACCAR Inc. by 2.2%, owning 253,373 shares valued at approximately $24.1 million.
• PACCAR's CEO and CFO both sold shares recently, with the CEO reducing his position by 15.19% and the CFO by 91.44%.
• The company announced a quarterly dividend of $0.33 per share, which will be paid on December 3rd, reflecting an annualized yield of 1.4%.

Cwm LLC grew its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 253,373 shares of the company's stock after buying an additional 5,344 shares during the period. Cwm LLC's holdings in PACCAR were worth $24,086,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in PACCAR by 1.8% during the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock worth $6,133,914,000 after purchasing an additional 1,113,520 shares in the last quarter. Wellington Management Group LLP raised its holdings in PACCAR by 20.1% during the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock worth $1,964,725,000 after purchasing an additional 3,379,165 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in PACCAR by 9.2% during 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 in the last quarter. Northern Trust Corp raised its holdings in PACCAR by 0.5% during the first quarter. Northern Trust Corp now owns 7,239,967 shares of the company's stock worth $704,956,000 after purchasing an additional 37,609 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in PACCAR by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company's stock worth $594,277,000 after purchasing an additional 97,197 shares in the last quarter. Institutional investors own 64.90% of the company's stock.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the business's stock in a transaction on 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 transaction, the chief executive officer owned 223,190 shares of the company's stock, valued at $22,211,868.80. The trade was a 15.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $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 owned by insiders.

PACCAR Trading Down 2.3%

PACCAR stock opened at $93.00 on Monday. The company's fifty day simple moving average is $98.73 and its 200-day simple moving average is $95.51. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81. The stock has a market cap of $48.83 billion, a P/E ratio of 15.92, a P/E/G ratio of 3.79 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted 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 business had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $7.02 billion. During the same period in the previous year, the company posted $2.13 EPS. PACCAR's revenue was down 15.7% on a year-over-year basis. As a group, sell-side analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. PACCAR's payout ratio is currently 22.60%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PCAR shares. Citigroup boosted their target price on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Vertical Research raised PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. Evercore ISI set a $114.00 target price on PACCAR and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of PACCAR in a report on Wednesday, October 8th. Finally, UBS Group raised 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 report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $107.59.

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.

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