Ameritas Investment Partners Inc. Maintains Position in PACCAR Inc. (PCAR)
Ameritas Investment Partners Inc. maintained its stake in PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,367 shares of the company’s stock at the end of the 2nd quarter. Ameritas Investment Partners Inc.’s holdings in PACCAR were worth $949,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in PCAR. IFP Advisors Inc raised its stake in PACCAR by 91.1% in the second quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock valued at $123,000 after purchasing an additional 890 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in PACCAR by 18.8% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock valued at $125,000 after purchasing an additional 300 shares in 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 valued at $143,000 after purchasing an additional 500 shares in 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 valued at $151,000 after purchasing an additional 1,157 shares in the last quarter. Finally, Sun Life Financial INC raised its stake in PACCAR by 19,884.6% in the second quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock valued at $172,000 after purchasing an additional 2,585 shares in the last quarter. 62.13% of the stock is currently owned by institutional investors and hedge funds.
In other 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 transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.64% of the stock is currently owned by corporate insiders.
A number of equities research analysts recently weighed in on the stock. Wells Fargo & Co raised their target price on shares of PACCAR from $74.00 to $77.00 and gave the company a “market perform” rating in a research note on Friday, October 6th. J P Morgan Chase & Co raised shares of PACCAR from a “neutral” rating to an “overweight” rating and raised their target price for the company from $70.00 to $83.00 in a research note on Wednesday, October 4th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $78.00 target price (up from $75.00) on shares of PACCAR in a research note on Monday, October 9th. ValuEngine downgraded shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, Citigroup Inc. raised their target price on shares of PACCAR from $78.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the stock. PACCAR presently has an average rating of “Hold” and an average target price of $75.84.
PACCAR Inc. (PCAR) opened at 73.77 on Friday. PACCAR Inc. has a 1-year low of $53.38 and a 1-year high of $74.79. The stock has a market capitalization of $25.92 billion, a P/E ratio of 19.75 and a beta of 1.18. The firm’s 50 day moving average is $70.97 and its 200 day moving average is $66.94.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 25th. The company reported $1.06 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 the consensus estimate of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.06 EPS. On average, equities research analysts anticipate that PACCAR Inc. will post $4.04 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. PACCAR’s dividend payout ratio is currently 26.74%.
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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