PACCAR Inc. (PCAR) Shares Sold by US Bancorp DE
US Bancorp DE decreased its stake in PACCAR Inc. (NASDAQ:PCAR) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,420,354 shares of the company’s stock after selling 7,658 shares during the period. US Bancorp DE owned about 0.69% of PACCAR worth $159,841,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in PCAR. Benjamin F. Edwards & Company Inc. raised its stake in PACCAR by 6.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock worth $107,000 after buying an additional 95 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in PACCAR by 33.3% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,600 shares of the company’s stock worth $108,000 after buying an additional 400 shares during the last quarter. State of Alaska Department of Revenue raised its stake in PACCAR by 29.9% in the second quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock worth $143,000 after buying an additional 500 shares during the last quarter. Perkins Coie Trust Co raised its stake in PACCAR by 102.8% in the second quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock worth $151,000 after buying an additional 1,157 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new stake in PACCAR during the first quarter worth about $175,000. 61.35% of the stock is currently owned by institutional investors.
PACCAR Inc. (NASDAQ:PCAR) traded up 0.270% on Friday, hitting $68.735. The stock had a trading volume of 555,761 shares. The company has a market cap of $24.15 billion, a PE ratio of 16.988 and a beta of 1.14. PACCAR Inc. has a one year low of $53.38 and a one year high of $70.12. The stock has a 50-day moving average of $65.49 and a 200-day moving average of $66.35.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 25th. The company reported $0.88 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. PACCAR had a return on equity of 19.13% and a net margin of 8.56%. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. Equities analysts expect that PACCAR Inc. will post $3.75 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Monday, August 14th. PACCAR’s dividend payout ratio is 24.69%.
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PCAR has been the subject of a number of analyst reports. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Tuesday, June 6th. UBS AG raised shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the company from $66.00 to $75.00 in a report on Tuesday, June 6th. Jefferies Group LLC set a $77.00 price objective on shares of PACCAR and gave the company a “buy” rating in a report on Sunday, May 28th. Seaport Global Securities reissued a “buy” rating and issued a $80.00 price objective on shares of PACCAR in a report on Thursday, April 6th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $85.00 price objective on shares of PACCAR in a report on Thursday, April 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $71.56.
In related news, VP Alma Lily Ley sold 904 shares of the stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $67.39, for a total value of $60,920.56. Following the completion of the sale, the vice president now directly owns 1,679 shares of the company’s stock, valued at approximately $113,147.81. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.64% of the stock is currently owned by corporate insiders.
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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