PACCAR Inc. (PCAR) Shares Bought by Korea Investment CORP
Korea Investment CORP boosted its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 14.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 351,753 shares of the company’s stock after buying an additional 44,208 shares during the period. Korea Investment CORP owned about 0.10% of PACCAR worth $23,230,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. raised its position in shares of 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 position in shares of 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 position in shares of 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 position in shares of 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, Schneider Downs Wealth Management Advisors LP bought a new position in shares of PACCAR during the first quarter worth $202,000. 61.31% of the stock is owned by institutional investors.
Shares of PACCAR Inc. (NASDAQ PCAR) opened at 68.58 on Monday. The company has a market capitalization of $24.09 billion, a PE ratio of 18.36 and a beta of 1.14. PACCAR Inc. has a one year low of $53.38 and a one year high of $70.32. The stock has a 50 day moving average of $66.57 and a 200-day moving average of $66.49.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.29 billion. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.06 earnings per share. On average, equities analysts forecast that PACCAR Inc. will post $3.98 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Monday, August 14th. PACCAR’s payout ratio is currently 26.74%.
A number of brokerages recently weighed in on PCAR. BidaskClub raised shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $72.00 target price (up from $64.00) on shares of PACCAR in a research note on Wednesday, July 26th. Citigroup Inc. upped their target price on shares of PACCAR from $74.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. UBS AG reaffirmed a “buy” rating and issued a $76.00 target price (up from $75.00) on shares of PACCAR in a research note on Wednesday, July 26th. Finally, Zacks Investment Research raised shares of PACCAR from a “sell” rating to a “buy” rating and set a $77.00 target price for the company in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. PACCAR has a consensus rating of “Hold” and a consensus price target of $72.00.
In related news, insider T. Kyle Quinn sold 2,786 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total transaction of $189,141.54. Following the transaction, the insider now directly owns 20,800 shares of the company’s stock, valued at $1,412,112. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.64% of the stock is owned by company 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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