PACCAR Inc (NASDAQ:PCAR) Position Boosted by Summit Trail Advisors LLC

Summit Trail Advisors LLC raised its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,262 shares of the company’s stock after acquiring an additional 182 shares during the period. Summit Trail Advisors LLC’s holdings in PACCAR were worth $953,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Capital International Investors increased its stake in shares of PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after acquiring an additional 1,225,468 shares during the period. TD Asset Management Inc boosted its stake in PACCAR by 112.2% during the 4th quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock valued at $202,358,000 after purchasing an additional 1,095,894 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of PACCAR during the 4th quarter valued at $87,441,000. Renaissance Technologies LLC acquired a new stake in shares of PACCAR in the second quarter valued at $88,437,000. Finally, Epoch Investment Partners Inc. boosted its stake in PACCAR by 113.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company’s stock valued at $103,408,000 after buying an additional 562,571 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Ratings Changes

PCAR has been the topic of several research reports. Raymond James started coverage on shares of PACCAR in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. decreased their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, Evercore ISI decreased their target price on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $112.73.

PACCAR Stock Performance

Shares of PCAR stock opened at $98.91 on Monday. The company has a market capitalization of $51.85 billion, a price-to-earnings 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 company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The stock’s fifty day simple moving average is $96.95 and its 200-day simple moving average is $106.08.

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

PACCAR Dividend Announcement

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

Insider Buying and Selling at PACCAR

In related 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 completion of the sale, the chief executive officer now directly owns 162,782 shares in the company, valued at $16,066,583.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.02% of the company’s stock.

About PACCAR

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.