Foster & Motley Inc. Purchases 1,829 Shares of PACCAR Inc. $PCAR

Foster & Motley Inc. increased its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,747 shares of the company’s stock after purchasing an additional 1,829 shares during the quarter. Foster & Motley Inc.’s holdings in PACCAR were worth $7,771,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after acquiring an additional 290 shares during the period. GAMMA Investing LLC lifted its holdings in PACCAR by 11.1% in the first quarter. GAMMA Investing LLC now owns 9,028 shares of the company’s stock valued at $879,000 after acquiring an additional 901 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in PACCAR by 1.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 388,557 shares of the company’s stock worth $37,834,000 after purchasing an additional 4,519 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of PACCAR by 27.2% in the first quarter. Exchange Traded Concepts LLC now owns 1,725 shares of the company’s stock valued at $168,000 after acquiring an additional 369 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in PACCAR by 1.8% in the first quarter. Janney Montgomery Scott LLC now owns 40,953 shares of the company’s stock valued at $3,988,000 after acquiring an additional 735 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the sale, the chief executive officer directly owned 223,190 shares in the company, valued at approximately $22,211,868.80. This trade represents a 15.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction that occurred 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 in the company, valued at $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company’s stock.

PACCAR Trading Down 0.5%

PCAR stock opened at $94.69 on Friday. The company has a market capitalization of $49.72 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 3.89 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The company’s 50-day simple moving average is $98.48 and its 200 day simple moving average is $95.44.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The company had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $7.02 billion. During the same period in the previous year, the business posted $2.13 earnings per share. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. PACCAR’s dividend payout ratio is presently 22.60%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Argus upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Monday, July 28th. Vertical Research upgraded shares of PACCAR to a “strong-buy” rating in a report on Wednesday, July 23rd. UBS Group upgraded shares of PACCAR from a “sell” rating to a “neutral” rating and upped their price target for the company from $81.00 to $100.00 in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price target on shares of PACCAR from $97.00 to $103.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, PACCAR currently has an average rating of “Moderate Buy” and an average target price of $108.14.

About PACCAR

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.