Osmosis Investment Management UK Ltd Makes New $1.88 Million Investment in PACCAR Inc. $PCAR

Osmosis Investment Management UK Ltd purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR) in the second quarter, HoldingsChannel reports. The fund purchased 15,640 shares of the company’s stock, valued at approximately $1,879,000.

A number of other institutional investors have also modified their holdings of PCAR. BlackRock Inc. acquired a new stake in PACCAR during the second quarter worth approximately $4,927,720,000. Norges Bank purchased a new stake in PACCAR in the 4th quarter worth approximately $727,745,000. Bank of New York Mellon Corp acquired a new position in PACCAR in the 2nd quarter valued at $453,107,000. Wellington Management Group LLP raised its holdings in PACCAR by 18.6% in the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after acquiring an additional 3,597,283 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of PACCAR during the 2nd quarter worth $239,460,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PCAR shares. Evercore set a $139.00 price objective on PACCAR in a report on Monday, May 11th. Wells Fargo & Company increased their target price on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. increased their target price on PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Morgan Stanley set a $119.00 price target on PACCAR in a report on Wednesday, July 29th. Finally, Citigroup upped their price objective on shares of PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Two analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $131.70.

PACCAR Stock Down 0.8%

Shares of PCAR opened at $129.94 on Tuesday. The firm has a market cap of $68.40 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 1.03 and a beta of 0.97. The company’s fifty day moving average is $126.66 and its two-hundred day moving average is $121.89. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $139.24. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. The company had revenue of $7.55 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned $1.37 EPS. Analysts forecast that PACCAR Inc. will post 5.89 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is presently 29.41%.

Insider Transactions at PACCAR

In other news, 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 directly owned 3,831 shares of the company’s stock, valued at $512,970.90. The trade was a 43.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brice J. Poplawski sold 1,970 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $132.50, for a total value of $261,025.00. Following the sale, the chief financial officer owned 1,391 shares of the company’s stock, valued at $184,307.50. The trade was a 58.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 56,842 shares of company stock worth $7,565,677 in the last three months. 1.99% of the stock is currently owned by insiders.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.