Belpointe Asset Management LLC purchased a new position in PACCAR Inc. (NASDAQ:PCAR) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,856 shares of the company’s stock, valued at approximately $279,000.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. raised its position in PACCAR by 6.6% during the second quarter. BlackRock Inc. now owns 25,508,314 shares of the company’s stock valued at $1,684,572,000 after acquiring an additional 1,572,038 shares in the last quarter. Vanguard Group Inc. raised its position in PACCAR by 5.0% during the second quarter. Vanguard Group Inc. now owns 24,555,355 shares of the company’s stock valued at $1,621,636,000 after acquiring an additional 1,164,896 shares in the last quarter. Bank of New York Mellon Corp raised its position in PACCAR by 11.4% during the third quarter. Bank of New York Mellon Corp now owns 6,765,314 shares of the company’s stock valued at $489,402,000 after acquiring an additional 694,185 shares in the last quarter. Victory Capital Management Inc. raised its position in PACCAR by 5.5% during the third quarter. Victory Capital Management Inc. now owns 2,806,586 shares of the company’s stock valued at $203,028,000 after acquiring an additional 145,932 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in PACCAR by 381.5% during the second quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock valued at $169,932,000 after acquiring an additional 2,038,761 shares in the last quarter. 62.36% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP C Michael Dozier sold 3,618 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $69.02, for a total value of $249,714.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Alma Lily Ley sold 4,024 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $71.00, for a total transaction of $285,704.00. Following the completion of the sale, the vice president now owns 24,319 shares in the company, valued at approximately $1,726,649. The disclosure for this sale can be found here. In the last 90 days, insiders sold 106,598 shares of company stock worth $7,597,908. 2.64% of the stock is currently owned by corporate insiders.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 24th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.06. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.57 billion. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. PACCAR’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share. research analysts expect that PACCAR Inc. will post 4.18 EPS for the current year.
The business also recently disclosed a special dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th will be paid a $1.20 dividend. The ex-dividend date is Wednesday, December 13th. This represents a dividend yield of 1.4%. PACCAR’s payout ratio is 25.64%.
Several equities analysts recently weighed in on the stock. J P Morgan Chase & Co lowered shares of PACCAR from an “overweight” rating to a “neutral” rating and set a $73.00 price objective on the stock. in a research report on Monday, December 11th. Zacks Investment Research lowered shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. BidaskClub raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Piper Jaffray Companies set a $67.00 price objective on shares of PACCAR and gave the company a “hold” rating in a research report on Sunday, December 10th. Finally, UBS set a $79.00 price target on PACCAR and gave the company a “buy” rating in a report on Thursday, November 30th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. PACCAR has an average rating of “Hold” and an average target price of $75.15.
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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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