IFM Investors Pty Ltd boosted its position in PACCAR Inc (NASDAQ:PCAR) by 12.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,164 shares of the company’s stock after purchasing an additional 3,235 shares during the period. IFM Investors Pty Ltd’s holdings in PACCAR were worth $2,487,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of PCAR. Ovata Capital Management Ltd purchased a new stake in shares of PACCAR in the second quarter worth $36,000. IFP Advisors Inc grew its stake in shares of PACCAR by 50.0% in the second quarter. IFP Advisors Inc now owns 504 shares of the company’s stock worth $39,000 after purchasing an additional 168 shares during the last quarter. Ropes Wealth Advisors LLC grew its stake in shares of PACCAR by 620.7% in the second quarter. Ropes Wealth Advisors LLC now owns 1,081 shares of the company’s stock worth $81,000 after purchasing an additional 931 shares during the last quarter. Cerebellum GP LLC bought a new stake in shares of PACCAR in the second quarter worth about $78,000. Finally, MCF Advisors LLC grew its stake in shares of PACCAR by 45.8% in the second quarter. MCF Advisors LLC now owns 1,092 shares of the company’s stock worth $82,000 after purchasing an additional 343 shares during the last quarter. Institutional investors and hedge funds own 61.69% of the company’s stock.
Shares of PCAR traded up $0.78 on Friday, hitting $89.94. 1,918,234 shares of the stock traded hands, compared to its average volume of 1,952,313. The company has a market capitalization of $31.13 billion, a PE ratio of 18.97, a P/E/G ratio of 2.52 and a beta of 1.11. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.32 and a current ratio of 2.48. The business has a 50 day simple moving average of $85.81 and a 200 day simple moving average of $77.68. PACCAR Inc has a one year low of $49.11 and a one year high of $91.33.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.12. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.88 billion. PACCAR had a net margin of 7.95% and a return on equity of 16.85%. The firm’s quarterly revenue was down 56.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.78 earnings per share. On average, equities analysts expect that PACCAR Inc will post 3.33 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Monday, November 9th. PACCAR’s dividend payout ratio (DPR) is presently 18.63%.
In other PACCAR news, VP Alma Lily Ley sold 3,314 shares of PACCAR stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $84.65, for a total value of $280,530.10. Following the completion of the sale, the vice president now owns 499 shares of the company’s stock, valued at approximately $42,240.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Harrie Schippers sold 4,000 shares of PACCAR stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $86.04, for a total transaction of $344,160.00. Following the completion of the sale, the chief financial officer now directly owns 41,515 shares of the company’s stock, valued at approximately $3,571,950.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,888 shares of company stock valued at $2,300,018. 2.18% of the stock is currently owned by insiders.
PCAR has been the subject of several research analyst reports. Citigroup raised their price objective on shares of PACCAR from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Raymond James raised their price objective on shares of PACCAR from $95.00 to $100.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 3rd. BidaskClub upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a report on Wednesday, October 7th. Wells Fargo & Company raised their price objective on shares of PACCAR from $95.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, September 25th. Finally, Sanford C. Bernstein initiated coverage on shares of PACCAR in a report on Tuesday, September 22nd. They issued a “market perform” rating and a $94.00 price objective for the company. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. PACCAR presently has an average rating of “Hold” and a consensus price target of $88.20.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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