PACCAR Inc. (PCAR) Holdings Boosted by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. boosted its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 8.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,360 shares of the company’s stock after buying an additional 257 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in PACCAR were worth $222,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in PACCAR by 381.5% during the second quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock worth $169,932,000 after buying an additional 2,038,761 shares during the last quarter. LMR Partners LLP acquired a new position in PACCAR during the first quarter worth approximately $577,000. Point72 Europe London LLP acquired a new position in PACCAR during the first quarter worth approximately $1,137,000. Brighton Jones LLC acquired a new position in PACCAR during the second quarter worth approximately $3,338,000. Finally, Delta Lloyd Asset Management N.V. acquired a new position in PACCAR during the second quarter worth approximately $3,038,000. 62.12% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on PCAR shares. Zacks Investment Research downgraded PACCAR from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. BidaskClub raised PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Robert W. Baird reissued a “hold” rating and set a $67.00 price target on shares of PACCAR in a research report on Friday, September 1st. ValuEngine raised PACCAR from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Finally, UBS AG set a $75.00 price target on PACCAR and gave the stock a “buy” rating in a research report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company’s stock. PACCAR presently has an average rating of “Hold” and a consensus price target of $71.74.
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In related news, insider T. Kyle Quinn sold 2,786 shares of PACCAR stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total value of $189,141.54. Following the completion of the transaction, the insider now directly owns 20,800 shares in the company, valued at approximately $1,412,112. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.64% of the stock is currently owned by insiders.
Shares of PACCAR Inc. (NASDAQ:PCAR) opened at 70.84 on Thursday. The company’s 50-day moving average price is $66.39 and its 200-day moving average price is $66.14. The firm has a market cap of $24.89 billion, a P/E ratio of 18.96 and a beta of 1.15. PACCAR Inc. has a 12 month low of $53.38 and a 12 month high of $71.36.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period in the previous year, the business earned $1.06 EPS. PACCAR’s revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that PACCAR Inc. will post $4.00 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.41%. PACCAR’s dividend payout ratio is 26.74%.
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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