Shell Asset Management Co. continued to hold its stake in PACCAR Inc. (NASDAQ:PCAR) during the second quarter, Holdings Channel reports. The firm owned 22,180 shares of the company’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in PACCAR were worth $1,465,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the stock. Campbell & CO Investment Adviser LLC acquired a new stake in PACCAR during the second quarter valued at about $409,000. Parkwood LLC raised its stake in PACCAR by 480.9% in the second quarter. Parkwood LLC now owns 27,871 shares of the company’s stock valued at $1,841,000 after buying an additional 23,073 shares during the last quarter. LGT Capital Partners LTD. raised its stake in PACCAR by 12.2% in the second quarter. LGT Capital Partners LTD. now owns 12,780 shares of the company’s stock valued at $844,000 after buying an additional 1,390 shares during the last quarter. Russell Investments Group Ltd. raised its stake in PACCAR by 4.6% in the second quarter. Russell Investments Group Ltd. now owns 526,584 shares of the company’s stock valued at $34,773,000 after buying an additional 23,112 shares during the last quarter. Finally, Longer Investments Inc. acquired a new stake in PACCAR during the second quarter valued at about $1,662,000. Institutional investors and hedge funds own 61.39% of the company’s stock.
Shares of PACCAR Inc. (NASDAQ:PCAR) opened at 68.58 on Friday. PACCAR Inc. has a 12-month low of $53.38 and a 12-month high of $70.32. The stock has a market capitalization of $24.09 billion, a price-to-earnings ratio of 18.36 and a beta of 1.14. The stock’s 50 day moving average is $66.57 and its 200-day moving average is $66.49.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.07. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.29 billion. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.06 EPS. On average, analysts expect that PACCAR Inc. will post $3.98 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Wednesday, August 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.00 annualized dividend and a yield of 1.46%. PACCAR’s dividend payout ratio (DPR) is 26.74%.
Several analysts have issued reports on the stock. Zacks Investment Research lowered shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. UBS AG restated a “buy” rating and set a $76.00 price target (up from $75.00) on shares of PACCAR in a research report on Wednesday, July 26th. Citigroup Inc. upped their price target on shares of PACCAR from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Stifel Nicolaus restated a “buy” rating and set a $72.00 price target (up from $64.00) on shares of PACCAR in a research report on Wednesday, July 26th. Finally, BidaskClub upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $72.00.
In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were 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 of the company’s stock, valued at approximately $1,412,112. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.64% of the stock is owned by insiders.
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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