Precocity Capital LP Invests $5.43 Million in PACCAR Inc. (PCAR) Stock
Precocity Capital LP acquired a new position in PACCAR Inc. (NASDAQ:PCAR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 75,000 shares of the company’s stock, valued at approximately $5,426,000.
A number of other institutional investors have also recently bought and sold shares of PCAR. State of Alaska Department of Revenue increased its position in shares of PACCAR by 29.9% during the second quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock worth $143,000 after acquiring an additional 500 shares during the period. Russell Investments Group Ltd. increased its position in shares of PACCAR by 4.6% during the second quarter. Russell Investments Group Ltd. now owns 526,584 shares of the company’s stock worth $34,773,000 after acquiring an additional 23,112 shares during the period. Strs Ohio increased its position in shares of PACCAR by 6.3% during the second quarter. Strs Ohio now owns 8,955 shares of the company’s stock worth $591,000 after acquiring an additional 534 shares during the period. IBM Retirement Fund increased its position in shares of PACCAR by 120.8% during the second quarter. IBM Retirement Fund now owns 8,411 shares of the company’s stock worth $621,000 after acquiring an additional 4,601 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in shares of PACCAR by 4.7% during the second quarter. Janney Montgomery Scott LLC now owns 14,713 shares of the company’s stock worth $972,000 after acquiring an additional 666 shares during the period. 62.35% of the stock is currently owned by institutional investors.
A number of equities analysts have recently commented on PCAR shares. BidaskClub raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Tuesday, August 22nd. Robert W. Baird reissued a “hold” rating and set a $67.00 price objective on shares of PACCAR in a report on Friday, September 1st. Royal Bank Of Canada reissued a “buy” rating on shares of PACCAR in a report on Friday, September 1st. Finally, Buckingham Research initiated coverage on shares of PACCAR in a report on Tuesday, September 5th. They set a “neutral” rating and a $65.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $75.60.
In other PACCAR news, insider Mark C. Pigott sold 98,956 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $71.37, for a total value of $7,062,489.72. Following the completion of the sale, the insider now directly owns 2,985,401 shares in the company, valued at $213,068,069.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Alma Lily Ley sold 4,024 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $71.00, for a total transaction of $285,704.00. Following the completion of the sale, the vice president now owns 24,319 shares of the company’s stock, valued at $1,726,649. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,598 shares of company stock valued at $7,597,908. 2.64% of the stock is owned by insiders.
Shares of PACCAR Inc. (PCAR) opened at $69.01 on Thursday. The firm has a market cap of $24,095.85, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 1.64 and a beta of 1.24. PACCAR Inc. has a one year low of $58.78 and a one year high of $75.68. The company has a quick ratio of 2.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.75.
PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 24th. The company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.06. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.57 billion. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. PACCAR’s revenue was up 19.7% compared to the same quarter last year. During the same period last year, the firm earned $0.98 earnings per share. equities research analysts anticipate that PACCAR Inc. will post 4.18 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders 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 annualized dividend and a yield of 1.45%. PACCAR’s dividend payout ratio (DPR) is 25.64%.
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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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