Royal London Asset Management Ltd. Raises Stock Position in PACCAR Inc (NASDAQ:PCAR)

Royal London Asset Management Ltd. lifted its position in PACCAR Inc (NASDAQ:PCAR) by 3.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 377,063 shares of the company’s stock after buying an additional 11,862 shares during the period. Royal London Asset Management Ltd. owned approximately 0.11% of PACCAR worth $27,024,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Aperio Group LLC grew its position in 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 purchasing an additional 21,869 shares during the last quarter. Enterprise Financial Services Corp lifted its stake in PACCAR by 76.8% during the 2nd quarter. Enterprise Financial Services Corp now owns 488 shares of the company’s stock valued at $35,000 after acquiring an additional 212 shares during the period. AGF Investments LLC lifted its stake in PACCAR by 4.6% during the 2nd quarter. AGF Investments LLC now owns 21,026 shares of the company’s stock valued at $1,507,000 after acquiring an additional 928 shares during the period. KBC Group NV lifted its stake in PACCAR by 54.5% during the 2nd quarter. KBC Group NV now owns 278,626 shares of the company’s stock valued at $19,966,000 after acquiring an additional 98,304 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake in PACCAR by 99.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 147,643 shares of the company’s stock valued at $10,580,000 after acquiring an additional 73,457 shares during the period. 63.60% of the stock is currently owned by hedge funds and other institutional investors.

In other PACCAR news, VP David J. Danforth sold 848 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $71.66, for a total transaction of $60,767.68. Following the completion of the transaction, the vice president now directly owns 4,958 shares in the company, valued at $355,290.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP C Michael Dozier sold 12,638 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $69.17, for a total transaction of $874,170.46. Following the transaction, the vice president now owns 8,401 shares of the company’s stock, valued at $581,097.17. The disclosure for this sale can be found here. Insiders have sold 18,834 shares of company stock valued at $1,309,805 over the last 90 days. 2.32% of the stock is currently owned by company insiders.

Several brokerages have commented on PCAR. Evercore ISI restated an “in-line” rating and set a $76.00 price objective (up from $73.00) on shares of PACCAR in a research note on Friday, May 31st. Credit Suisse Group lifted their price objective on shares of PACCAR from $74.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Zacks Investment Research cut shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. JPMorgan Chase & Co. upgraded shares of PACCAR from an “underweight” rating to a “neutral” rating and decreased their price objective for the company from $87.00 to $66.00 in a research note on Wednesday, July 24th. Finally, ValuEngine cut shares of PACCAR from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. PACCAR presently has an average rating of “Hold” and an average target price of $68.89.

NASDAQ:PCAR traded up $2.03 during trading hours on Tuesday, reaching $66.81. 42,107 shares of the company were exchanged, compared to its average volume of 1,989,471. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.26 and a current ratio of 2.43. The stock has a 50-day moving average of $69.76. The firm has a market cap of $22.44 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 1.15 and a beta of 1.25. PACCAR Inc has a twelve month low of $53.43 and a twelve month high of $73.00.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.82 by ($0.04). The company had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.21 billion. PACCAR had a return on equity of 25.99% and a net margin of 9.43%. The business’s revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.59 earnings per share. As a group, research analysts anticipate that PACCAR Inc will post 6.77 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders 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%.

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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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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