Meeder Advisory Services Inc. Purchases New Holdings in PACCAR Inc. $PCAR

Meeder Advisory Services Inc. acquired a new position in PACCAR Inc. (NASDAQ:PCAR) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 15,743 shares of the company’s stock, valued at approximately $1,891,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of PACCAR by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after buying an additional 363,782 shares during the last quarter. BlackRock Inc. bought a new stake in shares of PACCAR during the 2nd quarter worth approximately $4,927,720,000. Wellington Management Group LLP lifted its stake in shares of PACCAR by 18.6% during the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock worth $2,516,272,000 after acquiring an additional 3,597,283 shares during the last quarter. State Street Corp boosted its holdings in PACCAR by 0.4% during the 4th quarter. State Street Corp now owns 22,497,197 shares of the company’s stock valued at $2,494,269,000 after acquiring an additional 94,869 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in PACCAR by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock valued at $1,350,867,000 after acquiring an additional 50,622 shares during the period. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Down 2.2%

Shares of NASDAQ PCAR opened at $128.02 on Wednesday. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $139.24. The firm has a market capitalization of $67.38 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.04 and a beta of 0.97. The stock has a 50 day moving average price of $125.73 and a 200 day moving average price of $121.76. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.PACCAR’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the business posted $1.37 EPS. Sell-side analysts expect that PACCAR Inc. will post 5.85 earnings per share for the current year.

PACCAR Dividend Announcement

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

Insider Transactions at PACCAR

In other news, VP Paulo Henrique Bolgar sold 2,897 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.90, for a total transaction of $387,908.30. Following the transaction, the vice president owned 3,831 shares in the company, valued at approximately $512,970.90. This trade represents a 43.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 50,975 shares of PACCAR stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.07, for a total value of $6,783,243.25. Following the completion of the sale, the chief executive officer owned 268,625 shares of the company’s stock, valued at $35,745,928.75. The trade was a 15.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 56,842 shares of company stock worth $7,565,677. Corporate insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on PCAR shares. Morgan Stanley set a $119.00 price objective on PACCAR in a research report on Wednesday, July 29th. Sanford C. Bernstein reiterated an “outperform” rating and set a $148.00 target price on shares of PACCAR in a research report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their target price on shares of PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Wells Fargo & Company upped their price target on shares of PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, Truist Financial raised their price target on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $131.70.

PACCAR Company Profile

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.