Plato Investment Management Ltd Acquires Shares of 10,656 PACCAR Inc. $PCAR

Plato Investment Management Ltd bought a new position in PACCAR Inc. (NASDAQ:PCAR) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,656 shares of the company’s stock, valued at approximately $1,273,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ares Financial Consulting LLC bought a new stake in shares of PACCAR during the fourth quarter valued at approximately $27,000. Steph & Co. purchased a new position in PACCAR in the 1st quarter worth approximately $29,000. MCF Advisors LLC lifted its position in PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after acquiring an additional 92 shares in the last quarter. Elyxium Wealth LLC bought a new position in PACCAR in the 4th quarter valued at approximately $30,000. Finally, Camelot Portfolios LLC purchased a new stake in PACCAR during the 4th quarter valued at $33,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Trading Up 0.0%

Shares of PACCAR stock opened at $130.84 on Tuesday. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $139.24. The company’s fifty day simple moving average is $125.57 and its 200-day simple moving average is $121.73. 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 stock has a market capitalization of $68.87 billion, a PE ratio of 27.49, a P/E/G ratio of 1.04 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 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 period in the prior year, the business posted $1.37 EPS. PACCAR’s revenue was up .5% on a year-over-year basis. As a group, equities analysts anticipate that PACCAR Inc. will post 5.85 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be given 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 is presently 29.41%.

Insider Buying and Selling

In other news, CFO Brice J. Poplawski sold 1,970 shares of PACCAR stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $132.50, for a total transaction of $261,025.00. Following the transaction, the chief financial officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP William Lance Walters sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.50, for a total value of $133,500.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 56,842 shares of company stock worth $7,565,677. Corporate insiders own 1.99% of the company’s stock.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of research analyst reports. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Citigroup upped their price target on PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Truist Financial lifted their price objective on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Sanford C. Bernstein reissued an “outperform” rating and issued a $148.00 target price on shares of PACCAR in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. upped 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. Three analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average 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.