US Bancorp DE increased its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 0.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,444,468 shares of the company’s stock after buying an additional 1,286 shares during the period. US Bancorp DE owned approximately 0.70% of PACCAR worth $143,686,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kleinwort Benson Investors Dublin Ltd acquired a new stake in shares of PACCAR during the second quarter valued at about $42,310,000. Capital World Investors boosted its stake in shares of PACCAR by 3.9% in the second quarter. Capital World Investors now owns 12,005,500 shares of the company’s stock valued at $622,725,000 after buying an additional 453,000 shares in the last quarter. BlackRock Inc. boosted its stake in shares of PACCAR by 32.9% in the second quarter. BlackRock Inc. now owns 1,821,434 shares of the company’s stock valued at $94,478,000 after buying an additional 450,710 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of PACCAR by 4.4% in the second quarter. BlackRock Fund Advisors now owns 9,130,432 shares of the company’s stock valued at $473,596,000 after buying an additional 381,482 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of PACCAR by 3.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 11,520,368 shares of the company’s stock valued at $597,561,000 after buying an additional 377,073 shares in the last quarter. 61.31% of the stock is currently owned by institutional investors.
Shares of PACCAR Inc. (NASDAQ:PCAR) opened at 67.31 on Wednesday. The firm has a market capitalization of $23.59 billion, a P/E ratio of 40.97 and a beta of 1.33. PACCAR Inc. has a one year low of $45.01 and a one year high of $68.69. The company’s 50 day moving average price is $66.05 and its 200 day moving average price is $60.36.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 31st. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.86 by $0.04. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.86 billion. PACCAR had a return on equity of 20.96% and a net margin of 3.41%. The business’s revenue was down 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.98 earnings per share. On average, analysts expect that PACCAR Inc. will post $3.90 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 14th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, February 10th. This represents a $0.96 annualized dividend and a yield of 1.43%. PACCAR’s dividend payout ratio is presently 58.54%.
Several analysts have recently issued reports on PCAR shares. Barclays PLC increased their price target on shares of PACCAR from $47.00 to $50.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 12th. Zacks Investment Research raised shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Thursday, October 13th. Deutsche Bank AG reduced their price target on shares of PACCAR from $63.00 to $60.00 and set a “hold” rating on the stock in a research report on Wednesday, October 26th. TheStreet cut shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Tuesday, October 25th. Finally, J P Morgan Chase & Co upgraded shares of PACCAR from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $50.00 to $60.00 in a research note on Friday, December 9th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $64.00.
In other news, insider T. Kyle Quinn sold 3,024 shares of the business’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $54.80, for a total value of $165,715.20. Following the completion of the sale, the insider now directly owns 16,672 shares in the company, valued at approximately $913,625.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark C. Pigott sold 112,266 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $55.47, for a total value of $6,227,395.02. Following the completion of the sale, the insider now owns 2,998,711 shares of the company’s stock, valued at $166,338,499.17. The disclosure for this sale can be found here. Insiders have sold a total of 119,322 shares of company stock worth $6,617,531 over the last 90 days. 2.62% of the stock is owned by company insiders.
PACCAR Company Profile
PACCAR Inc (PACCAR) is a global technology company engaged in the design, manufacture and customer support of trucks. The Company operates in three segments: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to customers and dealers.
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