Cornerstone Capital Management Holdings LLC. lowered its stake in PACCAR Inc. (NASDAQ:PCAR) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,946 shares of the company’s stock after selling 1,253 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in PACCAR were worth $4,090,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc lifted its position in PACCAR by 91.1% in the second quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock valued at $123,000 after buying an additional 890 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co lifted its position in PACCAR by 18.8% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock valued at $125,000 after buying an additional 300 shares during the last quarter. State of Alaska Department of Revenue lifted its position in PACCAR by 29.9% in the second quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock valued at $143,000 after buying an additional 500 shares during the last quarter. Perkins Coie Trust Co lifted its position in PACCAR by 102.8% in the second quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock valued at $151,000 after buying an additional 1,157 shares during the last quarter. Finally, Sun Life Financial INC lifted its position in shares of PACCAR by 19,884.6% during the second quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock worth $172,000 after purchasing an additional 2,585 shares in the last quarter. 62.13% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on PCAR. Wells Fargo & Company increased their price target on shares of PACCAR from $74.00 to $77.00 and gave the stock a “market perform” rating in a research report on Friday, October 6th. J P Morgan Chase & Co raised shares of PACCAR from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $70.00 to $83.00 in a research report on Wednesday, October 4th. Deutsche Bank AG reissued a “hold” rating and set a $78.00 price target (up previously from $75.00) on shares of PACCAR in a research report on Monday, October 9th. ValuEngine cut shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Citigroup Inc. increased their price target on shares of PACCAR from $78.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $75.42.
In other news, insider T. Kyle Quinn sold 2,786 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total value of $189,141.54. Following the completion of the sale, the insider now directly owns 20,800 shares in the company, valued at approximately $1,412,112. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.64% of the stock is currently owned by insiders.
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PACCAR Inc. (NASDAQ PCAR) opened at 72.69 on Friday. The stock has a market capitalization of $25.54 billion, a price-to-earnings ratio of 19.46 and a beta of 1.18. The firm has a 50-day moving average of $70.05 and a 200 day moving average of $66.78. PACCAR Inc. has a 52 week low of $53.38 and a 52 week high of $74.79.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.07. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the previous year, the business earned $1.06 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts anticipate that PACCAR Inc. will post $4.03 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.38%. PACCAR’s dividend payout ratio (DPR) is 26.74%.
PACCAR Company Profile
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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