Retirement Systems of Alabama increased its stake in PACCAR Inc. (NASDAQ:PCAR) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 321,530 shares of the company’s stock after buying an additional 704 shares during the period. Retirement Systems of Alabama’s holdings in PACCAR were worth $21,234,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in PCAR. Chevy Chase Trust Holdings Inc. increased its position in shares of PACCAR by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 304,494 shares of the company’s stock valued at $20,462,000 after buying an additional 9,183 shares during the last quarter. Creative Planning increased its position in shares of PACCAR by 0.6% in the first quarter. Creative Planning now owns 17,705 shares of the company’s stock valued at $1,190,000 after buying an additional 103 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of PACCAR by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 107,257 shares of the company’s stock valued at $7,207,000 after buying an additional 1,400 shares during the last quarter. National Pension Service increased its position in shares of PACCAR by 1.5% in the first quarter. National Pension Service now owns 300,915 shares of the company’s stock valued at $20,354,000 after buying an additional 4,492 shares during the last quarter. Finally, LVM Capital Management Ltd. MI acquired a new position in shares of PACCAR during the first quarter valued at $206,000. Institutional investors and hedge funds own 61.31% of the company’s stock.
PACCAR Inc. (NASDAQ:PCAR) opened at 68.58 on Monday. 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 PE ratio of 18.36 and a beta of 1.14. The stock’s 50 day moving average price is $66.57 and its 200-day moving average price is $66.49.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.07. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.06 earnings per share. Analysts expect that PACCAR Inc. will post $3.98 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 16th will be paid 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 payout ratio is currently 26.74%.
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PCAR has been the subject of several research analyst reports. Credit Suisse Group set a $68.00 target price on PACCAR and gave the stock a “hold” rating in a research note on Wednesday, April 12th. Piper Jaffray Companies downgraded PACCAR from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $72.00 to $66.00 in a research note on Tuesday, April 18th. OTR Global raised PACCAR to a “positive” rating in a research note on Tuesday, April 18th. Barclays PLC upped their target price on PACCAR from $57.00 to $59.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 19th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 target price on shares of PACCAR in a research note on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. PACCAR currently has an average rating of “Hold” and a consensus price target of $72.00.
In related news, insider T. Kyle Quinn sold 2,786 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 20,800 shares in the company, valued at $1,412,112. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.64% of the company’s stock.
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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