PACCAR Inc. (PCAR) Shares Bought by Russell Investments Group Ltd.
Russell Investments Group Ltd. boosted its stake in PACCAR Inc. (NASDAQ:PCAR) by 4.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 526,584 shares of the company’s stock after buying an additional 23,112 shares during the period. Russell Investments Group Ltd. owned about 0.15% of PACCAR worth $34,773,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in PCAR. Benjamin F. Edwards & Company Inc. boosted 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 period. FUKOKU MUTUAL LIFE INSURANCE Co boosted 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 period. State of Alaska Department of Revenue boosted 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 period. Perkins Coie Trust Co boosted 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 period. Finally, Private Advisor Group LLC purchased a new stake in PACCAR during the first quarter valued at about $175,000. 61.31% of the stock is owned by institutional investors and hedge funds.
PACCAR Inc. (PCAR) traded down 0.61% on Friday, reaching $64.81. 1,497,840 shares of the company’s stock were exchanged. PACCAR Inc. has a 1-year low of $53.38 and a 1-year high of $70.32. The firm has a market capitalization of $22.77 billion, a price-to-earnings ratio of 17.35 and a beta of 1.14. The stock’s 50 day moving average price is $67.26 and its 200 day moving average price is $66.54.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.07. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same period last year, the firm posted $1.06 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts expect that PACCAR Inc. will post $4.00 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 16th will be given 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 1.54%. PACCAR’s dividend payout ratio is presently 26.74%.
Several equities research analysts have recently issued reports on PCAR shares. BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 price objective on shares of PACCAR in a research report on Thursday, April 20th. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Tuesday, June 6th. UBS AG raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $75.00 in a research report on Tuesday, June 6th. Jefferies Group LLC set a $77.00 price target on shares of PACCAR and gave the company a “buy” rating in a research report on Sunday, May 28th. Finally, Goldman Sachs Group, Inc. (The) raised shares of PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Thursday, June 15th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $72.00.
In related news, insider T. Kyle Quinn sold 2,786 shares of PACCAR 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 in the company, valued at approximately $1,412,112. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company 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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