Savant Capital LLC Raises Stake in PACCAR Inc. $PCAR

Savant Capital LLC raised its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 7.4% in the second quarter, Holdings Channel reports. The institutional investor owned 13,743 shares of the company’s stock after buying an additional 945 shares during the quarter. Savant Capital LLC’s holdings in PACCAR were worth $1,306,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of PACCAR by 1.8% in the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock valued at $6,133,914,000 after acquiring an additional 1,113,520 shares during the period. Wellington Management Group LLP lifted its stake in PACCAR by 20.1% in the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock worth $1,964,725,000 after purchasing an additional 3,379,165 shares in the last quarter. Northern Trust Corp boosted its holdings in PACCAR by 0.5% in the 1st quarter. Northern Trust Corp now owns 7,239,967 shares of the company’s stock valued at $704,956,000 after purchasing an additional 37,609 shares during the period. Dimensional Fund Advisors LP grew its position in shares of PACCAR by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company’s stock valued at $594,277,000 after purchasing an additional 97,197 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of PACCAR by 4.4% in the first quarter. Invesco Ltd. now owns 4,965,976 shares of the company’s stock worth $483,537,000 after purchasing an additional 210,825 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction on Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the transaction, the chief financial officer owned 468 shares in the company, valued at $47,338.20. This trade represents a 87.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PCAR. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Jefferies Financial Group reiterated a “hold” rating and set a $90.00 price target on shares of PACCAR in a research report on Tuesday, October 21st. UBS Group set a $103.00 price objective on shares of PACCAR and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Truist Financial raised their target price on shares of PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Finally, Zacks Research cut shares of PACCAR from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $106.59.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $98.47 on Thursday. The stock’s 50-day moving average is $98.32 and its 200 day moving average is $96.62. The stock has a market cap of $51.72 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 4.11 and a beta of 0.95. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a current ratio of 1.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). The firm had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.85 EPS. On average, sell-side analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. PACCAR’s dividend payout ratio (DPR) is currently 25.83%.

PACCAR Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.