W1M Asset Management Ltd Makes New Investment in PACCAR Inc. $PCAR

W1M Asset Management Ltd purchased a new stake in PACCAR Inc. (NASDAQ:PCAR) during the second quarter, according to its most recent filing with the SEC. The firm purchased 88,401 shares of the company’s stock, valued at approximately $10,616,000.

Other institutional investors have also modified their holdings of the company. Varma Mutual Pension Insurance Co purchased a new position in shares of PACCAR in the 2nd quarter worth approximately $17,375,000. Westpac Banking Corp acquired a new position in shares of PACCAR during the second quarter worth $268,000. Sumitomo Life Insurance Co. acquired a new position in shares of PACCAR during the second quarter worth $745,000. Korea Investment CORP acquired a new stake in shares of PACCAR in the 2nd quarter worth $53,741,000. Finally, Pinnacle West Asset Management Inc. purchased a new position in PACCAR during the 2nd quarter worth $699,000. 64.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PACCAR

In related news, VP Paulo Henrique Bolgar sold 2,897 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the transaction, the vice president directly owned 3,831 shares in the company, valued at $512,970.90. The trade was a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brice J. Poplawski sold 1,970 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $132.50, for a total transaction of $261,025.00. Following the completion of the sale, the chief financial officer directly owned 1,391 shares in the company, valued at approximately $184,307.50. The trade was a 58.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 56,842 shares of company stock valued at $7,565,677 over the last quarter. Insiders own 1.99% of the company’s stock.

PACCAR Stock Up 1.6%

PACCAR stock opened at $131.03 on Friday. The business’s 50-day simple moving average is $126.48 and its two-hundred day simple moving average is $121.90. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12. The company has a market cap of $68.97 billion, a PE ratio of 27.53, a PEG ratio of 1.03 and a beta of 0.97. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $139.24.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same period last year, the business posted $1.37 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Equities analysts anticipate that PACCAR Inc. will post 5.89 EPS for the current year.

PACCAR Announces Dividend

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

Analyst Upgrades and Downgrades

PCAR has been the topic of several recent analyst reports. Morgan Stanley set a $119.00 target price on PACCAR in a research report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their price target on PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Evercore set a $139.00 price objective on shares of PACCAR in a research report on Monday, May 11th. Truist Financial lifted their target price 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. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $148.00 target price on shares of PACCAR in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, PACCAR has an average rating of “Hold” and a consensus price target 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.