Royal London Asset Management Ltd. Boosts Holdings in PACCAR Inc (NASDAQ:PCAR)
Royal London Asset Management Ltd. boosted its position in PACCAR Inc (NASDAQ:PCAR) by 3.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 377,063 shares of the company’s stock after buying an additional 11,862 shares during the period. Royal London Asset Management Ltd.’s holdings in PACCAR were worth $27,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently bought and sold shares of the company. Aperio Group LLC raised its stake in shares of PACCAR by 9.4% during the 2nd quarter. Aperio Group LLC now owns 255,283 shares of the company’s stock worth $18,293,000 after buying an additional 21,869 shares during the last quarter. Enterprise Financial Services Corp raised its stake in shares of PACCAR by 76.8% during the 2nd quarter. Enterprise Financial Services Corp now owns 488 shares of the company’s stock worth $35,000 after buying an additional 212 shares during the last quarter. AGF Investments LLC raised its stake in shares of PACCAR by 4.6% during the 2nd quarter. AGF Investments LLC now owns 21,026 shares of the company’s stock worth $1,507,000 after buying an additional 928 shares during the last quarter. KBC Group NV raised its stake in shares of PACCAR by 54.5% during the 2nd quarter. KBC Group NV now owns 278,626 shares of the company’s stock worth $19,966,000 after buying an additional 98,304 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of PACCAR by 99.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 147,643 shares of the company’s stock worth $10,580,000 after buying an additional 73,457 shares during the last quarter. Hedge funds and other institutional investors own 63.60% of the company’s stock.
PACCAR stock traded up $2.03 during midday trading on Tuesday, reaching $66.81. 42,107 shares of the company were exchanged, compared to its average volume of 1,989,471. The firm has a market capitalization of $22.44 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 1.15 and a beta of 1.25. The company’s 50-day moving average is $69.76. PACCAR Inc has a 1 year low of $53.43 and a 1 year high of $73.00. The company has a quick ratio of 2.26, a current ratio of 2.43 and a debt-to-equity ratio of 0.70.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 14th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, August 13th. PACCAR’s dividend payout ratio is presently 20.51%.
Several research analysts have recently issued reports on the company. BidaskClub downgraded PACCAR from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Evercore ISI reaffirmed an “in-line” rating and set a $76.00 price target (up previously from $73.00) on shares of PACCAR in a research note on Friday, May 31st. Morgan Stanley lifted their price target on PACCAR from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised PACCAR from an “underweight” rating to a “neutral” rating and cut their price target for the stock from $87.00 to $66.00 in a research note on Wednesday, July 24th. Finally, Zacks Investment Research downgraded PACCAR from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $68.89.
In related news, VP C Michael Dozier sold 12,638 shares of PACCAR stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $69.17, for a total transaction of $874,170.46. Following the completion of the sale, the vice president now owns 8,401 shares in the company, valued at approximately $581,097.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP David J. Danforth sold 848 shares of PACCAR stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $71.66, for a total value of $60,767.68. Following the sale, the vice president now owns 4,958 shares of the company’s stock, valued at approximately $355,290.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,834 shares of company stock valued at $1,309,805. 2.32% of the stock is currently owned by company insiders.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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