Balyasny Asset Management LLC boosted its position in PACCAR Inc. (NASDAQ:PCAR) by 165.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,627 shares of the company’s stock after purchasing an additional 35,332 shares during the quarter. Balyasny Asset Management LLC’s holdings in PACCAR were worth $3,740,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its position in shares of PACCAR by 91.1% during the 2nd quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock valued at $123,000 after acquiring an additional 890 shares during the period. State of Alaska Department of Revenue lifted its position in shares of PACCAR by 29.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock valued at $143,000 after acquiring an additional 500 shares during the period. Perkins Coie Trust Co lifted its position in shares of PACCAR by 102.8% during the 2nd quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock valued at $151,000 after acquiring an additional 1,157 shares during the period. Bluestein R H & Co. bought a new stake in shares of PACCAR during the 1st quarter valued at $202,000. Finally, Davis Selected Advisers lifted its position in shares of PACCAR by 0.4% during the 2nd quarter. Davis Selected Advisers now owns 3,144 shares of the company’s stock valued at $208,000 after acquiring an additional 12 shares during the period. Institutional investors and hedge funds own 62.13% of the company’s stock.
In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of PACCAR stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total transaction of $189,141.54. Following the completion of the sale, the insider now owns 20,800 shares of the company’s stock, valued at $1,412,112. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.64% of the company’s stock.
PACCAR Inc. (NASDAQ PCAR) opened at 73.42 on Wednesday. The firm has a 50-day moving average price of $69.30 and a 200-day moving average price of $66.65. The firm has a market cap of $25.80 billion, a PE ratio of 19.65 and a beta of 1.18. PACCAR Inc. has a one year low of $53.38 and a one year 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 (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the company posted $1.06 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts expect that PACCAR Inc. will post $4.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.36%. The ex-dividend date is Monday, November 13th. PACCAR’s dividend payout ratio (DPR) is currently 26.74%.
A number of research firms have recently weighed in on PCAR. Wells Fargo & Company upped their target price on PACCAR from $74.00 to $77.00 and gave the company a “market perform” rating in a research report on Friday, October 6th. J P Morgan Chase & Co upgraded PACCAR from a “neutral” rating to an “overweight” rating and upped their target price for the company from $70.00 to $83.00 in a research report on Wednesday, October 4th. Deutsche Bank AG reiterated a “hold” rating and set a $78.00 target price (up from $75.00) on shares of PACCAR in a research report on Monday. ValuEngine downgraded PACCAR from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, UBS AG reiterated a “buy” rating and set a $82.00 target price (up from $76.00) on shares of PACCAR in a research report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $74.58.
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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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