WINTON GROUP Ltd Purchases New Stake in PACCAR Inc. $PCAR

Key Points

• WINTON GROUP Ltd acquired 11,667 PACCAR shares worth approximately $1.4 million in the second quarter. Institutional investors collectively own 64.9% of PCAR.
• PACCAR beat quarterly expectations, reporting $1.43 in EPS versus the $1.36 consensus and $7.55 billion in revenue versus $7.05 billion expected. The company also declared a $0.35 quarterly dividend, representing a 1.1% yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $133.91, while several firms recently raised their targets. Insiders have sold 56,842 shares worth about $7.6 million over the past 90 days.

WINTON GROUP Ltd acquired a new position in PACCAR Inc. (NASDAQ:PCAR - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,667 shares of the company's stock, valued at approximately $1,401,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PCAR. Compass Financial Management LLC bought a new position in shares of PACCAR in the 2nd quarter valued at about $28,000. Paladin Partners LLC bought a new stake in shares of PACCAR during the second quarter worth approximately $27,000. Fiduciary Financial Advisors bought a new stake in shares of PACCAR during the second quarter worth approximately $28,000. Continuum Advisory LLC acquired a new position in PACCAR in the second quarter valued at approximately $29,000. Finally, Steph & Co. acquired a new position in PACCAR in the first quarter valued at approximately $29,000. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Up 0.1%

PACCAR stock opened at $122.73 on Friday. The company's 50 day simple moving average is $128.07 and its 200 day simple moving average is $121.68. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $139.24. The firm has a market capitalization of $64.60 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 1.41 and a beta of 0.96. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90.

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

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders 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 dividend yield of 1.1%. PACCAR's payout ratio is 29.41%.

Insider Activity

In related news, VP William Lance Walters sold 1,000 shares of the firm's stock in a transaction on Friday, July 31st. The stock was 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 SEC, which is available at this hyperlink. Also, VP Paulo Henrique Bolgar sold 2,897 shares of PACCAR stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.90, for a total value of $387,908.30. Following the transaction, the vice president owned 3,831 shares in the company, valued at approximately $512,970.90. This represents a 43.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 56,842 shares of company stock worth $7,565,677 in the last 90 days. Corporate insiders own 1.99% of the company's stock.

Analysts Set New Price Targets

PCAR has been the subject of a number of analyst reports. Royal Bank Of Canada raised shares of PACCAR from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $130.00 to $150.00 in a report on Thursday. Truist Financial increased their price target on PACCAR from $126.00 to $131.00 and gave the company a "hold" rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. raised their price target on PACCAR from $155.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of PACCAR in a research note on Tuesday, August 18th. Finally, Citigroup upped their price objective on PACCAR from $125.00 to $140.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $133.91.

PACCAR Company Profile

PACCAR Inc is a global manufacturer of heavy-duty, medium-duty and light-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company serves the over-the-road, vocational and construction markets, offering vehicles designed for freight transportation and other commercial applications.

In addition to truck manufacturing, PACCAR operates PACCAR Parts, which distributes replacement parts and related services through a global network. The company also provides truck financing and leasing through PACCAR Financial, supporting customers and dealers in several major markets.

PACCAR traces its history to 1905 and has grown from a regional equipment manufacturer into an international transportation company.

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