Saudi Central Bank Grows Stock Holdings in PACCAR Inc. $PCAR

Saudi Central Bank grew its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 90.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,838 shares of the company's stock after acquiring an additional 17,452 shares during the period. Saudi Central Bank's holdings in PACCAR were worth $4,425,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock valued at $9,258,000 after purchasing an additional 290 shares during the period. Focus Partners Wealth lifted its holdings in PACCAR by 15.4% in the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company's stock worth $1,324,000 after buying an additional 1,812 shares during the period. Treasurer of the State of North Carolina grew its position in shares of PACCAR by 2.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company's stock worth $22,886,000 after buying an additional 5,327 shares during the last quarter. Ieq Capital LLC grew its position in shares of PACCAR by 11.5% in the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company's stock worth $3,556,000 after buying an additional 3,858 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of PACCAR during the second quarter valued at approximately $81,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on PCAR. JPMorgan Chase & Co. upped 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. Evercore set a $139.00 price objective on shares of PACCAR in a research report on Monday, May 11th. Sanford C. Bernstein reissued an "outperform" rating and set a $148.00 price objective on shares of PACCAR in a research report on Wednesday, July 29th. Citigroup upped their price objective on shares of PACCAR from $125.00 to $140.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of PACCAR in a research report on Tuesday, August 18th. Two research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $132.30.

Insider Activity

In related 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paulo Henrique Bolgar sold 2,897 shares of the business's stock in a transaction that occurred 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 transaction, the vice president owned 3,831 shares of the company's stock, valued at approximately $512,970.90. The trade was a 43.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 56,842 shares of company stock valued at $7,565,677 over the last ninety days. 1.99% of the stock is currently owned by corporate insiders.

PACCAR Stock Performance

NASDAQ PCAR opened at $124.70 on Monday. PACCAR Inc. has a 12 month low of $92.25 and a 12 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's fifty day moving average price is $127.78 and its 200-day moving average price is $121.77. The stock has a market cap of $65.64 billion, a P/E ratio of 26.20, a P/E/G ratio of 1.43 and a beta of 0.96.

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

PACCAR Dividend Announcement

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

PACCAR Profile

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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