Russell Investments Group Ltd. raised its position in shares of PACCAR Inc (NASDAQ:PCAR) by 6.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 396,008 shares of the company’s stock after purchasing an additional 24,402 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of PACCAR worth $27,647,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in PCAR. BlackRock Inc. grew its stake in shares of PACCAR by 5.7% during the 2nd quarter. BlackRock Inc. now owns 27,314,209 shares of the company’s stock valued at $1,957,337,000 after purchasing an additional 1,462,333 shares during the period. Nuveen Asset Management LLC grew its stake in shares of PACCAR by 228.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,395,941 shares of the company’s stock valued at $100,033,000 after purchasing an additional 970,913 shares during the period. First Trust Advisors LP grew its stake in shares of PACCAR by 140.5% during the 2nd quarter. First Trust Advisors LP now owns 1,169,778 shares of the company’s stock valued at $83,826,000 after acquiring an additional 683,432 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of PACCAR by 2.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 12,750,068 shares of the company’s stock valued at $913,670,000 after acquiring an additional 324,895 shares during the period. Finally, Mengis Capital Management Inc. grew its stake in shares of PACCAR by 7,255.7% during the 2nd quarter. Mengis Capital Management Inc. now owns 286,871 shares of the company’s stock valued at $20,557,000 after acquiring an additional 282,971 shares during the period. Institutional investors and hedge funds own 63.42% of the company’s stock.
Shares of NASDAQ:PCAR opened at $79.87 on Friday. The stock has a 50 day moving average of $72.02 and a 200 day moving average of $69.69. The company has a market cap of $27.56 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. The company has a current ratio of 2.39, a quick ratio of 2.23 and a debt-to-equity ratio of 0.67. PACCAR Inc has a 12-month low of $53.43 and a 12-month high of $80.57.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.75 EPS for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.11. PACCAR had a return on equity of 26.11% and a net margin of 9.45%. The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.97 billion. During the same period in the previous year, the firm earned $1.55 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. Equities research analysts predict that PACCAR Inc will post 6.79 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 12th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.28 dividend on an annualized basis and a yield of 1.60%. PACCAR’s dividend payout ratio is presently 20.51%.
In related news, VP T. Kyle Quinn sold 29,840 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $77.56, for a total value of $2,314,390.40. Following the transaction, the vice president now directly owns 30,946 shares of the company’s stock, valued at approximately $2,400,171.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Harrie Schippers sold 7,927 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $77.73, for a total value of $616,165.71. Following the completion of the transaction, the chief financial officer now directly owns 40,051 shares in the company, valued at $3,113,164.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 106,949 shares of company stock worth $8,207,798. 2.32% of the stock is owned by insiders.
A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on PACCAR from $70.00 to $66.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Credit Suisse Group boosted their price objective on PACCAR from $74.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. BidaskClub upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Wells Fargo & Co boosted their price objective on PACCAR from $72.00 to $75.00 and gave the company a “market perform” rating in a research note on Wednesday, October 23rd. Finally, OTR Global downgraded PACCAR from a “mixed” rating to a “negative” rating in a research note on Wednesday, October 9th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $71.64.
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.
See Also: Which market index is the best?
Receive News & Ratings for PACCAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR and related companies with MarketBeat.com's FREE daily email newsletter.