Penobscot Investment Management Company Inc. decreased its stake in PACCAR Inc. (NASDAQ:PCAR) by 15.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,031 shares of the company’s stock after selling 749 shares during the period. Penobscot Investment Management Company Inc.’s holdings in PACCAR were worth $266,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Ballentine Partners LLC bought a new position in shares of PACCAR during the second quarter valued at about $221,000. Legal & General Group Plc raised its position in shares of PACCAR by 1.3% in the second quarter. Legal & General Group Plc now owns 1,732,193 shares of the company’s stock valued at $114,393,000 after buying an additional 21,699 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of PACCAR by 10.6% in the second quarter. Bank of New York Mellon Corp now owns 6,071,129 shares of the company’s stock valued at $400,938,000 after buying an additional 580,223 shares in the last quarter. State of Wisconsin Investment Board raised its position in shares of PACCAR by 34.4% in the second quarter. State of Wisconsin Investment Board now owns 282,237 shares of the company’s stock valued at $18,639,000 after buying an additional 72,190 shares in the last quarter. Finally, Conning Inc. raised its position in shares of PACCAR by 0.4% in the second quarter. Conning Inc. now owns 10,691 shares of the company’s stock valued at $706,000 after buying an additional 39 shares in the last quarter. Institutional investors own 62.33% of the company’s stock.
PACCAR Inc. (NASDAQ PCAR) opened at 63.00 on Friday. PACCAR Inc. has a 1-year low of $53.38 and a 1-year high of $70.32. The firm has a 50 day moving average of $67.30 and a 200-day moving average of $66.42. The company has a market capitalization of $22.14 billion, a price-to-earnings ratio of 16.86 and a beta of 1.14.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.07. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.29 billion. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 EPS. On average, equities research analysts anticipate that PACCAR Inc. will post $4.00 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Wednesday, August 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Monday, August 14th. PACCAR’s dividend payout ratio is presently 26.74%.
PCAR has been the topic of several research analyst reports. BidaskClub raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research lowered shares of PACCAR from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Barclays PLC set a $56.00 target price on shares of PACCAR and gave the stock a “sell” rating in a research note on Wednesday, April 26th. UBS AG set a $75.00 target price on shares of PACCAR and gave the stock a “buy” rating in a research note on Thursday, July 6th. Finally, Bank of America Corporation lowered shares of PACCAR from a “buy” rating to a “neutral” rating and cut their target price for the stock from $78.00 to $70.00 in a research note on Thursday, May 11th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. PACCAR has an average rating of “Hold” and a consensus price target of $72.00.
In other news, insider T. Kyle Quinn sold 2,786 shares of the company’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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.64% of the stock is owned by corporate insiders.
About PACCAR
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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