CAPROCK Group Inc. lowered its stake in PACCAR Inc. (NASDAQ:PCAR) by 11.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,097 shares of the company’s stock after selling 403 shares during the period. CAPROCK Group Inc.’s holdings in PACCAR were worth $205,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. increased its stake in PACCAR by 6.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock valued at $107,000 after buying an additional 95 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in PACCAR by 33.3% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,600 shares of the company’s stock valued at $108,000 after buying an additional 400 shares during the last quarter. State of Alaska Department of Revenue increased its stake 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 increased its stake 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, Schneider Downs Wealth Management Advisors LP bought a new stake in PACCAR during the first quarter valued at approximately $202,000. Institutional investors and hedge funds own 62.33% of the company’s stock.
Shares of PACCAR Inc. (PCAR) traded down 0.24% during trading on Friday, hitting $63.00. 1,978,135 shares of the stock traded hands. PACCAR Inc. has a 52-week low of $53.38 and a 52-week high of $70.32. The firm has a market cap of $22.14 billion, a PE ratio of 16.86 and a beta of 1.14. The company’s 50 day moving average is $67.36 and its 200 day moving average is $66.45.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The firm 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 firm earned $1.06 earnings per share. PACCAR’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts predict that PACCAR Inc. will post $4.00 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.59%. PACCAR’s payout ratio is 26.74%.
PCAR has been the subject of a number of research reports. UBS AG upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the company from $66.00 to $75.00 in a research report on Tuesday, June 6th. BidaskClub downgraded shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Monday. Jefferies Group LLC set a $77.00 target price on shares of PACCAR and gave the company a “buy” rating in a research report on Sunday, May 28th. Barclays PLC set a $56.00 target price on shares of PACCAR and gave the company a “sell” rating in a research report on Wednesday, April 26th. Finally, Stifel Nicolaus restated a “buy” rating and set a $72.00 target price (up from $64.00) on shares of PACCAR in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $72.00.
In related news, insider T. Kyle Quinn sold 2,786 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $1,412,112. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.64% of the stock is currently 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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