PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Howard Capital Management Inc.

Howard Capital Management Inc. increased its position in PACCAR Inc (NASDAQ:PCAR) by 1.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 24,079 shares of the company’s stock after purchasing an additional 384 shares during the period. PACCAR accounts for about 0.2% of Howard Capital Management Inc.’s holdings, making the stock its 29th biggest holding. Howard Capital Management Inc.’s holdings in PACCAR were worth $2,479,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fisher Asset Management LLC raised its stake in PACCAR by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock valued at $479,466,000 after acquiring an additional 83,444 shares during the last quarter. Norges Bank purchased a new position in shares of PACCAR in the 4th quarter worth $448,288,000. Capital International Investors raised its position in shares of PACCAR by 44.8% in the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after buying an additional 1,225,468 shares during the period. Principal Financial Group Inc. raised its position in shares of PACCAR by 1.5% in the 2nd quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock worth $331,403,000 after buying an additional 48,784 shares during the period. Finally, First Trust Advisors LP raised its position in shares of PACCAR by 0.9% in the 4th quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock worth $268,551,000 after buying an additional 23,394 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Truist Financial cut their price objective on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Evercore ISI lowered their target price on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. JPMorgan Chase & Co. lowered their target price on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Citigroup decreased their price target on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Finally, Raymond James began coverage on PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $112.73.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Performance

PCAR opened at $93.25 on Friday. The business’s 50 day moving average is $98.05 and its 200-day moving average is $107.22. The stock has a market cap of $48.88 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 1.49 and a beta of 0.91. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The business had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the firm posted $2.33 EPS. On average, analysts predict that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 1.29%. PACCAR’s payout ratio is 12.45%.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.