Intech Investment Management LLC Increases Position in PACCAR Inc (NASDAQ:PCAR)

Intech Investment Management LLC lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 86.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 68,609 shares of the company’s stock after acquiring an additional 31,750 shares during the quarter. Intech Investment Management LLC’s holdings in PACCAR were worth $7,063,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of PCAR. Capital International Investors increased its position 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 worth $490,967,000 after acquiring an additional 1,225,468 shares during the last quarter. TD Asset Management Inc increased its holdings in PACCAR by 112.2% in the fourth quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock valued at $202,358,000 after buying an additional 1,095,894 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in PACCAR in the fourth quarter valued at about $87,441,000. Renaissance Technologies LLC bought a new stake in PACCAR in the second quarter valued at about $88,437,000. Finally, Epoch Investment Partners Inc. increased its holdings in PACCAR by 113.3% in 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 during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on PCAR shares. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Citigroup lowered their price objective on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft lowered their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Raymond James started coverage on PACCAR in a report on Friday, June 28th. They set a “market perform” rating for the company. Finally, Truist Financial lowered their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $112.73.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $98.91 on Friday. 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 has a 50 day simple moving average of $96.95 and a 200-day simple moving average of $106.20. The company 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 12-month low of $80.94 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) 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 analyst estimates of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.33 earnings per share. On average, equities research analysts forecast that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date 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%.

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 sale, the chief executive officer now directly owns 162,782 shares in the company, valued at $16,066,583.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.02% of the stock is currently owned by insiders.

PACCAR Company 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.