PACCAR Inc. (NASDAQ:PCAR) Position Increased by State of Alaska Department of Revenue
State of Alaska Department of Revenue increased its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 29.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,175 shares of the company’s stock after buying an additional 500 shares during the period. State of Alaska Department of Revenue’s holdings in PACCAR were worth $143,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Peak Capital Management LLC acquired a new position in shares of PACCAR during the second quarter valued at about $435,000. Bank of Montreal Can boosted its stake in PACCAR by 1.8% in the second quarter. Bank of Montreal Can now owns 1,035,791 shares of the company’s stock valued at $68,402,000 after buying an additional 18,474 shares during the period. Perkins Coie Trust Co boosted 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 valued at $151,000 after buying an additional 1,157 shares during the period. Capital One National Association boosted its stake in PACCAR by 7.4% in the second quarter. Capital One National Association now owns 3,863 shares of the company’s stock valued at $255,000 after buying an additional 267 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in PACCAR by 8.1% in the first quarter. Clearbridge Investments LLC now owns 10,614 shares of the company’s stock valued at $713,000 after buying an additional 798 shares during the period. 61.31% of the stock is currently owned by hedge funds and other institutional investors.
PACCAR Inc. (PCAR) traded down 2.59% on Thursday, hitting $65.47. 727,892 shares of the stock were exchanged. The company’s 50 day moving average price is $67.13 and its 200-day moving average price is $66.56. The company has a market cap of $23.00 billion, a P/E ratio of 17.52 and a beta of 1.14. PACCAR Inc. has a one year low of $53.38 and a one year high of $70.32.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the company posted $1.06 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. Equities research analysts predict that PACCAR Inc. will post $4.00 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.49%. PACCAR’s dividend payout ratio is currently 26.74%.
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Several research firms have recently commented on PCAR. BidaskClub upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded shares of PACCAR from a “buy” rating to a “hold” rating in a report on Monday, July 31st. UBS AG restated a “buy” rating and set a $76.00 target price (up from $75.00) on shares of PACCAR in a report on Wednesday, July 26th. Citigroup Inc. raised their target price on shares of PACCAR from $74.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Finally, Stifel Nicolaus restated a “buy” rating and set a $72.00 target price (up from $64.00) on shares of PACCAR in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. The stock presently 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 stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total value of $189,141.54. Following the transaction, the insider now owns 20,800 shares in the company, valued at $1,412,112. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.64% of the company’s stock.
PACCAR Company Profile
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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