Sanctuary Advisors LLC Purchases Shares of 16,962 PACCAR Inc. $PCAR

Sanctuary Advisors LLC purchased a new stake in PACCAR Inc. (NASDAQ:PCAR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 16,962 shares of the company’s stock, valued at approximately $2,038,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new stake in shares of PACCAR during the 2nd quarter worth $4,927,720,000. Norges Bank bought a new position in PACCAR in the 4th quarter worth $727,745,000. Bank of New York Mellon Corp acquired a new position in PACCAR during the 2nd quarter worth $453,107,000. Wellington Management Group LLP boosted its holdings in PACCAR by 18.6% during the fourth 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 period. Finally, Deutsche Bank AG bought a new stake in PACCAR during the second quarter valued at about $239,460,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In other news, VP Paulo Henrique Bolgar sold 2,897 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.90, for a total transaction of $387,908.30. Following the sale, the vice president directly owned 3,831 shares in the company, valued at approximately $512,970.90. The trade was a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brice J. Poplawski sold 1,970 shares of the company’s 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 transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 56,842 shares of company stock worth $7,565,677 over the last 90 days. Insiders own 1.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PCAR. Wells Fargo & Company raised their price target on PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Weiss Ratings restated a “hold (c+)” rating on shares of PACCAR in a research note on Tuesday, August 18th. JPMorgan Chase & Co. raised their target price on PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $148.00 price target on shares of PACCAR in a research report on Wednesday, July 29th. Finally, Evercore set a $139.00 price target on PACCAR in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of “Hold” and a consensus target price of $131.70.

PACCAR Stock Performance

NASDAQ:PCAR opened at $129.23 on Thursday. The firm’s 50-day moving average is $127.07 and its 200-day moving average is $121.91. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $139.24. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12. The company has a market cap of $68.02 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.02 and a beta of 0.97.

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

PACCAR Announces Dividend

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

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.