Vanguard Group Inc. Boosts Position in PACCAR Inc. (NASDAQ:PCAR)

Key Points

• Vanguard Group Inc. increased its stake in PACCAR Inc. by 1.8%, now owning 12% of the company, valued at over $6.13 billion.
• PACCAR has announced a quarterly dividend of $0.33 per share, with an annualized yield of 1.4%, payable on September 4th.
• Recent analyst ratings show upgrades for PACCAR, with UBS raising the price target to $100 and Argus setting a target of $121.

Vanguard Group Inc. grew its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,995,929 shares of the company's stock after buying an additional 1,113,520 shares during the period. Vanguard Group Inc. owned 12.00% of PACCAR worth $6,133,914,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. E Fund Management Hong Kong Co. Ltd. lifted its holdings in PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after purchasing an additional 240 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in shares of PACCAR during the 1st quarter valued at $29,000. Sunbelt Securities Inc. lifted its stake in shares of PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after buying an additional 350 shares in the last quarter. Bayforest Capital Ltd boosted its holdings in PACCAR by 234.2% in the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after buying an additional 274 shares during the period. Finally, Accent Capital Management LLC purchased a new stake in PACCAR in the 1st quarter worth $40,000. 64.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PACCAR

In other news, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, the chief financial officer owned 468 shares of the company's stock, valued at approximately $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO R Preston Feight sold 39,965 shares of the company's 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 transaction, the chief executive officer owned 223,190 shares in the company, valued at $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. 2.02% of the stock is owned by insiders.

PACCAR Trading Up 0.6%

Shares of NASDAQ:PCAR traded up $0.57 during trading on Friday, reaching $97.34. The company's stock had a trading volume of 1,398,852 shares, compared to its average volume of 3,611,376. The stock has a market capitalization of $51.11 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 3.88 and a beta of 0.91. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The firm's 50 day simple moving average is $95.72 and its two-hundred day simple moving average is $97.58.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%. The company's revenue for the quarter was down 15.7% on a year-over-year basis. During the same period last year, the company earned $2.13 EPS. On average, research analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.33 per share. 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 payout ratio is presently 22.60%.

Analysts Set New Price Targets

PCAR has been the topic of several research analyst reports. Royal Bank Of Canada lowered their price objective on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Truist Financial lowered their price target on PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock 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 stock a "neutral" rating in a research note on Wednesday, July 23rd. Citigroup lifted their price objective on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, June 24th. Finally, Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price on the stock in a report on Monday, July 28th. Nine investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $107.77.

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.