Vanguard Personalized Indexing Management LLC Purchases 669 Shares of PACCAR Inc (NASDAQ:PCAR)

Vanguard Personalized Indexing Management LLC boosted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,216 shares of the company’s stock after acquiring an additional 669 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in PACCAR were worth $5,064,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PCAR. State Board of Administration of Florida Retirement System boosted its holdings in PACCAR by 4.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after purchasing an additional 27,963 shares during the period. BDF Gestion purchased a new position in PACCAR during the second quarter worth about $2,862,000. California State Teachers Retirement System grew its position in PACCAR by 1.2% during the fourth quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock worth $80,430,000 after buying an additional 9,978 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of PACCAR by 15.9% in the 1st quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock valued at $6,944,000 after acquiring an additional 7,678 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of PACCAR by 18.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock valued at $82,590,000 after acquiring an additional 105,109 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on PCAR shares. Evercore ISI decreased their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Raymond James assumed coverage on shares of PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Truist Financial cut their target price on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lowered their price target on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus target price of $112.73.

Insider Activity at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Down 1.7 %

PCAR opened at $96.32 on Thursday. The company has a market cap of $50.49 billion, a P/E ratio of 9.99, a P/E/G ratio of 1.47 and a beta of 0.91. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The business’s 50-day moving average price is $97.11 and its 200-day moving average price is $106.34. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. During the same period last year, the firm earned $2.33 earnings per share. PACCAR’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities analysts expect that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is currently 12.45%.

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.