Epoch Investment Partners Inc. Raises Holdings in PACCAR Inc (NASDAQ:PCAR)

Epoch Investment Partners Inc. increased its position in PACCAR Inc (NASDAQ:PCAR) by 9.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,441,597 shares of the company’s stock after purchasing an additional 123,072 shares during the period. Epoch Investment Partners Inc. owned 0.27% of PACCAR worth $148,398,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in PACCAR by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock valued at $557,572,000 after buying an additional 171,317 shares during the last quarter. Fisher Asset Management LLC grew its position in PACCAR by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock worth $479,466,000 after purchasing an additional 83,444 shares during the last quarter. Capital International Investors increased its stake in PACCAR by 44.8% in the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after purchasing an additional 1,225,468 shares during the period. Principal Financial Group Inc. boosted its stake in shares of PACCAR by 1.5% during the second quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock worth $331,403,000 after buying an additional 48,784 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of PACCAR by 0.9% during the fourth quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock worth $268,551,000 after buying an additional 23,394 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on PCAR shares. Citigroup decreased their price objective on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Truist Financial cut their price objective 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. Evercore ISI dropped their price target on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Finally, Raymond James started coverage on shares of PACCAR in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $112.73.

PACCAR Stock Performance

Shares of PCAR stock opened at $98.91 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. The stock has a market cap of $51.85 billion, a PE ratio of 10.26, a P/E/G ratio of 1.48 and a beta of 0.91. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50. The stock has a fifty day moving average price of $96.95 and a 200 day moving average price of $106.15.

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

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.21%. PACCAR’s dividend payout ratio is presently 12.45%.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction on Wednesday, July 31st. The stock was 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 in the company, valued at approximately $16,066,583.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.02% of the company’s stock.

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.