64,362 Shares in PACCAR Inc. $PCAR Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. bought a new position in PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 64,362 shares of the company’s stock, valued at approximately $7,731,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. boosted its stake in PACCAR by 2.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock valued at $45,281,000 after buying an additional 9,524 shares during the period. Merit Financial Group LLC grew its position in PACCAR by 165.8% during the fourth quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock worth $2,663,000 after buying an additional 15,169 shares in the last quarter. Vanguard Group Inc. increased its stake in PACCAR by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after acquiring an additional 363,782 shares during the last quarter. Swiss Life Asset Management Ltd increased its stake in PACCAR by 118.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 638,688 shares of the company’s stock worth $69,943,000 after acquiring an additional 345,937 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of PACCAR by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock valued at $1,350,867,000 after acquiring an additional 50,622 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Trading Up 0.1%

NASDAQ PCAR opened at $130.79 on Friday. The stock’s 50-day simple moving average is $125.32 and its two-hundred day simple moving average is $121.66. PACCAR Inc. has a twelve month low of $92.25 and a twelve month 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. The company has a market capitalization of $68.84 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 1.04 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. The company’s revenue was up .5% compared to the same quarter last year. Research analysts forecast that PACCAR Inc. will post 5.85 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued 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 (DPR) is currently 29.41%.

Insider Transactions at PACCAR

In related news, CFO Brice J. Poplawski sold 1,970 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was 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 owned 1,391 shares in the company, valued at $184,307.50. The trade was a 58.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Paulo Henrique Bolgar sold 2,897 shares of the company’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 value of $387,908.30. Following the completion of the sale, the vice president directly owned 3,831 shares of the company’s stock, valued at approximately $512,970.90. This represents a 43.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of research analyst reports. Wells Fargo & Company lifted 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. Truist Financial upped their price objective on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Morgan Stanley set a $119.00 target price on shares of PACCAR in a research report on Wednesday, July 29th. Finally, Evercore set a $139.00 price target on shares of PACCAR in a research note on Monday, May 11th. Three 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, the stock has an average rating of “Hold” and a consensus target price of $131.70.

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.