PKO Investment Management Joint Stock Co Buys Shares of 14,000 PACCAR Inc. $PCAR

Key Points

• PKO Investment Management opened a new position in PACCAR in Q4, buying 14,000 shares worth about $1.53M; institutional ownership of the stock stands at 64.90%, and PFA Pension also established a large ~$61.55M stake.
• Company insiders sold 111,664 shares (~$14.24M) in the past 90 days, including CEO R. Preston Feight's sale of 9,258 shares (~$1.20M) and CFO Brice Poplawski's 2,200-share sale, leaving insiders with 1.99% ownership.
• PACCAR increased its quarterly dividend to $0.35 from $0.33 (annualized $1.40), with an ex-dividend date of May 13 and a yield of about 1.2%.

PKO Investment Management Joint Stock Co purchased a new position in PACCAR Inc. (NASDAQ:PCAR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,000 shares of the company's stock, valued at approximately $1,533,000.

A number of other large investors also recently modified their holdings of PCAR. Strs Ohio grew its position in PACCAR by 21.4% in the 4th quarter. Strs Ohio now owns 147,487 shares of the company's stock valued at $16,151,000 after buying an additional 25,997 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in shares of PACCAR during the 4th quarter worth about $61,549,000. Horizon Investments LLC raised its position in shares of PACCAR by 3.7% during the 4th quarter. Horizon Investments LLC now owns 34,696 shares of the company's stock worth $3,800,000 after buying an additional 1,222 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of PACCAR by 2.0% in the 4th quarter. Fifth Third Bancorp now owns 36,798 shares of the company's stock worth $4,030,000 after acquiring an additional 717 shares during the period. Finally, Danske Bank A S boosted its holdings in shares of PACCAR by 2.1% in the fourth quarter. Danske Bank A S now owns 328,340 shares of the company's stock valued at $35,957,000 after acquiring an additional 6,659 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO R Preston Feight sold 9,258 shares of PACCAR stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $129.70, for a total value of $1,200,762.60. Following the transaction, the chief executive officer directly owned 258,566 shares of the company's stock, valued at $33,536,010.20. This trade represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brice J. Poplawski sold 2,200 shares of the company's stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $130.41, for a total transaction of $286,902.00. Following the completion of the sale, the chief financial officer owned 903 shares of the company's stock, valued at approximately $117,760.23. This trade represents a 70.90% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 111,664 shares of company stock valued at $14,244,394. 1.99% of the stock is currently owned by insiders.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $116.09 on Friday. The stock's fifty day simple moving average is $120.92 and its 200 day simple moving average is $114.37. The stock has a market capitalization of $61.09 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 1.08 and a beta of 1.02. The company has a quick ratio of 2.79, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a 52-week low of $88.35 and a 52-week high of $131.88.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the prior year, the business posted $1.46 earnings per share. PACCAR's revenue was down 9.8% compared to the same quarter last year. As a group, sell-side analysts forecast that PACCAR Inc. will post 5.6 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th will be paid a dividend of $0.35 per share. This is a boost from PACCAR's previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, May 13th. PACCAR's payout ratio is currently 28.09%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the company an "equal weight" rating in a research note on Wednesday. BNP Paribas Exane began coverage on PACCAR in a research report on Tuesday, March 31st. They issued a "neutral" rating and a $126.00 target price for the company. Morgan Stanley set a $109.00 price target on PACCAR and gave the company an "equal weight" rating in a research note on Tuesday, February 3rd. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of PACCAR in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $117.83.

About PACCAR

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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