Thrivent Financial for Lutherans Boosts Holdings in PACCAR Inc (NASDAQ:PCAR)

Thrivent Financial for Lutherans boosted its position in PACCAR Inc (NASDAQ:PCAR) by 34.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 151,067 shares of the company’s stock after buying an additional 38,373 shares during the period. Thrivent Financial for Lutherans’ holdings in PACCAR were worth $15,550,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its position in PACCAR by 2.7% in the 2nd quarter. Pacer Advisors Inc. now owns 68,222 shares of the company’s stock valued at $7,023,000 after buying an additional 1,776 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in PACCAR by 20.5% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 501,459 shares of the company’s stock valued at $51,635,000 after buying an additional 85,225 shares during the last quarter. AE Wealth Management LLC grew its position in PACCAR by 33.7% in the 2nd quarter. AE Wealth Management LLC now owns 3,887 shares of the company’s stock valued at $400,000 after buying an additional 980 shares during the last quarter. Granite Investment Partners LLC boosted its position in shares of PACCAR by 12.9% during the 2nd quarter. Granite Investment Partners LLC now owns 143,343 shares of the company’s stock worth $14,756,000 after purchasing an additional 16,426 shares in the last quarter. Finally, Ieq Capital LLC boosted its position in shares of PACCAR by 8.0% during the 2nd quarter. Ieq Capital LLC now owns 20,958 shares of the company’s stock worth $2,157,000 after purchasing an additional 1,555 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Trading Up 0.4 %

NASDAQ PCAR opened at $99.17 on Wednesday. PACCAR Inc has a 12 month low of $80.94 and a 12 month high of $125.50. The company has a 50-day moving average of $96.65 and a 200-day moving average of $105.86. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The company has a market cap of $51.98 billion, a P/E ratio of 10.29, a P/E/G ratio of 1.48 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data 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 net margin of 14.07% and a return on equity of 29.87%. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same period in the prior year, the company earned $2.33 EPS. The company’s revenue was down 2.1% compared to the same quarter last year. As a group, equities analysts predict that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Announces Dividend

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

Wall Street Analysts Forecast Growth

PCAR has been the topic of several research analyst reports. Raymond James initiated coverage on shares of PACCAR in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Evercore ISI decreased their target price 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. Deutsche Bank Aktiengesellschaft decreased their target price 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. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. decreased their price objective 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. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $112.73.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the transaction, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.02% of the stock is owned by company insiders.

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.