Plato Investment Management Ltd Boosts Stake in PACCAR Inc (NASDAQ:PCAR)

Plato Investment Management Ltd boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 1.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 18,664 shares of the company’s stock after purchasing an additional 338 shares during the period. Plato Investment Management Ltd’s holdings in PACCAR were worth $1,921,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PSI Advisors LLC purchased a new stake in shares of PACCAR in the 1st quarter valued at $25,000. YHB Investment Advisors Inc. purchased a new stake in PACCAR during the first quarter worth about $27,000. New Covenant Trust Company N.A. acquired a new stake in shares of PACCAR during the first quarter worth about $27,000. Riverview Trust Co purchased a new position in shares of PACCAR in the first quarter valued at approximately $29,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Evercore ISI decreased their price target on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. cut their price target on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Raymond James initiated coverage on shares of PACCAR in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and an average target price of $112.73.

PACCAR Stock Up 0.1 %

PCAR stock opened at $95.12 on Monday. The stock has a market cap of $49.86 billion, a P/E ratio of 9.87, a PEG ratio of 1.46 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. The company’s 50 day moving average is $97.40 and its two-hundred day moving average is $106.63.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same quarter in the prior year, the business earned $2.33 earnings per share. PACCAR’s revenue was down 2.1% compared to the same quarter last year. Research analysts expect that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.26%. PACCAR’s dividend payout ratio (DPR) is presently 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.