Price T Rowe Associates Inc. MD Grows Stock Position in PACCAR Inc. $PCAR

Key Points

• Price T Rowe Associates Inc. increased its stake in PACCAR Inc. by 1.5% during the first quarter, owning approximately $78.24 million worth of stocks.
• Major institutional investors like Wellington Management and Pacer Advisors significantly raised their holdings in PACCAR, indicating strong interest in the company.
• PACCAR announced a quarterly dividend of $0.33 per share, suggesting a dividend yield of 1.3% and a payout ratio of 22.60%.

Price T Rowe Associates Inc. MD boosted its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 1.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 803,533 shares of the company's stock after buying an additional 11,589 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.15% of PACCAR worth $78,241,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PCAR. Wellington Management Group LLP lifted its holdings in shares of 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 during the period. Pacer Advisors Inc. increased its stake in shares of PACCAR by 2,957.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company's stock valued at $205,469,000 after acquiring an additional 2,041,168 shares in the last quarter. Nuveen LLC acquired a new stake in PACCAR in the 1st quarter valued at $125,566,000. Vanguard Group Inc. grew its position in PACCAR by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock valued at $6,133,914,000 after purchasing an additional 1,113,520 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in PACCAR by 9.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock worth $1,144,578,000 after acquiring an additional 987,805 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Trading Down 0.7%

PCAR traded down $0.70 during trading hours on Friday, reaching $99.98. 2,225,815 shares of the company's stock traded hands, compared to its average volume of 2,854,216. The firm has a 50-day moving average price of $97.62 and a 200 day moving average price of $96.66. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $52.50 billion, a PE ratio of 17.12, a PEG ratio of 4.07 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.09. The business had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The business's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.13 EPS. As a group, sell-side analysts predict that PACCAR Inc. will post 7.57 EPS 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 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, August 14th. PACCAR's dividend payout ratio (DPR) is presently 22.60%.

Insider Activity

In other PACCAR news, 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 value of $504,700.00. Following the sale, the chief financial officer directly owned 468 shares of the company's stock, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the completion of the sale, the chief executive officer directly owned 223,190 shares in the company, valued at approximately $22,211,868.80. The trade was a 15.19% 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.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PCAR shares. UBS Group raised shares of PACCAR from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $81.00 to $100.00 in a report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price target on PACCAR from $95.00 to $97.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Vertical Research raised PACCAR to a "strong-buy" rating in a report on Wednesday, July 23rd. Evercore ISI set a $114.00 price objective on PACCAR and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Finally, Royal Bank Of Canada decreased their price objective on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $107.68.

About PACCAR

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.