ARP Americas LP cut its stake in PACCAR Inc (NASDAQ:PCAR) by 62.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,520 shares of the company’s stock after selling 9,280 shares during the period. ARP Americas LP’s holdings in PACCAR were worth $413,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital World Investors increased its holdings in shares of PACCAR by 43.5% during the first quarter. Capital World Investors now owns 9,104,922 shares of the company’s stock valued at $556,584,000 after purchasing an additional 2,759,826 shares during the period. First Trust Advisors LP boosted its stake in PACCAR by 346.4% during the second quarter. First Trust Advisors LP now owns 1,810,093 shares of the company’s stock valued at $135,485,000 after buying an additional 1,404,646 shares in the last quarter. Capital International Investors bought a new position in PACCAR during the first quarter valued at about $57,080,000. Alyeska Investment Group L.P. bought a new position in PACCAR during the first quarter valued at about $38,946,000. Finally, Advisor Group Holdings Inc. bought a new position in PACCAR during the first quarter valued at about $3,371,000. 61.39% of the stock is currently owned by hedge funds and other institutional investors.
PCAR has been the subject of a number of recent analyst reports. Morgan Stanley increased their price target on PACCAR from $59.00 to $73.00 and gave the company an “underweight” rating in a research report on Wednesday, July 22nd. BidaskClub upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. raised their price objective on PACCAR from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Citigroup raised their price objective on PACCAR from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Co raised their price objective on PACCAR from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. PACCAR has an average rating of “Hold” and a consensus price target of $85.21.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.12. PACCAR had a return on equity of 16.85% and a net margin of 7.95%. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the company posted $1.78 EPS. The business’s revenue for the quarter was down 56.9% compared to the same quarter last year. On average, analysts expect that PACCAR Inc will post 3.29 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th will be given a dividend of $0.32 per share. The ex-dividend date is Monday, August 10th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.50%. This is an increase from PACCAR’s previous quarterly dividend of $0.09. PACCAR’s payout ratio is presently 18.63%.
In other news, SVP C Michael Dozier sold 12,158 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $85.40, for a total transaction of $1,038,293.20. Following the completion of the sale, the senior vice president now owns 9,923 shares in the company, valued at $847,424.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Todd R. Hubbard sold 7,416 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $85.90, for a total value of $637,034.40. Following the sale, the vice president now owns 9,430 shares of the company’s stock, valued at approximately $810,037. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,574 shares of company stock valued at $2,019,488. 2.18% of the stock is currently owned by corporate insiders.
PACCAR Company Profile
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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