Stack Financial Management Inc Buys New Position in PACCAR Inc. $PCAR

Stack Financial Management Inc bought a new stake in PACCAR Inc. (NASDAQ:PCAR) during the second quarter, Holdings Channel.com reports. The fund bought 206,102 shares of the company’s stock, valued at approximately $24,757,000. PACCAR accounts for approximately 1.9% of Stack Financial Management Inc’s holdings, making the stock its 20th largest position.

Several other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC increased its holdings in shares of PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after buying an additional 290 shares during the last quarter. Focus Partners Wealth raised its position in shares of PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after buying an additional 1,812 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of PACCAR by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock worth $22,886,000 after acquiring an additional 5,327 shares during the last quarter. Ieq Capital LLC lifted its holdings in shares of PACCAR by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after acquiring an additional 3,858 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in PACCAR in the second quarter worth $81,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Trading Up 0.1%

NASDAQ:PCAR opened at $130.79 on Friday. The firm has a market capitalization of $68.84 billion, a P/E ratio of 27.48, a P/E/G ratio of 1.04 and a beta of 0.97. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $125.32 and a 200 day moving average of $121.66. PACCAR Inc. has a 52 week low of $92.25 and a 52 week high of $139.24.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same quarter last year, the firm earned $1.37 EPS. The company’s revenue was up .5% on a year-over-year basis. On average, research analysts predict that PACCAR Inc. will post 5.85 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s payout ratio is currently 29.41%.

Insiders Place Their Bets

In other news, VP William Lance Walters sold 1,000 shares of PACCAR stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Brice J. Poplawski sold 1,970 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $132.50, for a total value of $261,025.00. Following the transaction, the chief financial officer directly owned 1,391 shares in the company, valued at $184,307.50. This trade represents a 58.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PCAR has been the topic of a number of research analyst reports. Wells Fargo & Company increased their target price on PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Citigroup lifted their price target on PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $148.00 price objective on shares of PACCAR in a report on Wednesday, July 29th. Evercore set a $139.00 price objective on PACCAR in a research report on Monday, May 11th. Finally, Morgan Stanley set a $119.00 price objective on PACCAR in a research report on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $131.70.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.