Birmingham Capital Management Co. Inc. AL Invests $500,000 in PACCAR Inc. $PCAR

Birmingham Capital Management Co. Inc. AL acquired a new position in PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 4,162 shares of the company’s stock, valued at approximately $500,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in PACCAR by 0.3% during 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 in the last quarter. Focus Partners Wealth lifted its holdings in shares of PACCAR by 15.4% in the first quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after purchasing an additional 1,812 shares in the last quarter. Treasurer of the State of North Carolina grew its position in shares of PACCAR by 2.3% in the second quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock valued at $22,886,000 after purchasing an additional 5,327 shares during the last quarter. Ieq Capital LLC grew its position in shares of PACCAR by 11.5% in the second quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock valued at $3,556,000 after purchasing an additional 3,858 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of PACCAR during the 2nd quarter worth approximately $81,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 50,975 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the sale, the chief executive officer owned 268,625 shares in the company, valued at $35,745,928.75. This trade represents a 15.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brice J. Poplawski sold 1,970 shares of PACCAR stock in a transaction on Friday, July 31st. The shares were sold at an average price of $132.50, for a total value of $261,025.00. Following the completion of the sale, the chief financial officer directly owned 1,391 shares of the company’s stock, valued at approximately $184,307.50. This represents a 58.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is owned by company insiders.

PACCAR Price Performance

PACCAR stock opened at $129.23 on Thursday. The stock has a market capitalization of $68.02 billion, a P/E ratio of 27.15, a P/E/G ratio of 1.02 and a beta of 0.97. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $139.24. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. The firm’s 50-day moving average is $127.07 and its two-hundred day moving average is $121.91.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.37 earnings per share. Equities analysts predict that PACCAR Inc. will post 5.89 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s dividend payout ratio is currently 29.41%.

Wall Street Analyst Weigh In

PCAR has been the subject of several research reports. Citigroup lifted their price objective on PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th. Wells Fargo & Company raised their price target on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Evercore set a $139.00 price target on PACCAR in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. boosted their price target on PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Two 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, PACCAR has a consensus rating of “Hold” and an average target price of $131.70.

About PACCAR

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.