Ieq Capital LLC Boosts Holdings in PACCAR Inc (NASDAQ:PCAR)

Ieq Capital LLC grew its position in PACCAR Inc (NASDAQ:PCAR) by 8.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,958 shares of the company’s stock after purchasing an additional 1,555 shares during the quarter. Ieq Capital LLC’s holdings in PACCAR were worth $2,157,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PCAR. State Board of Administration of Florida Retirement System increased its position in PACCAR by 4.8% during 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 buying an additional 27,963 shares in the last quarter. BDF Gestion purchased a new position in shares of PACCAR in the 2nd quarter valued at approximately $2,862,000. California State Teachers Retirement System boosted its stake in PACCAR by 1.2% in the 4th quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock worth $80,430,000 after purchasing an additional 9,978 shares in the last quarter. Advisory Services Network LLC grew its position in PACCAR by 15.9% during the 1st quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after purchasing an additional 7,678 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in 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 purchasing an additional 105,109 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the firm’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 sale, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PCAR shares. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Truist Financial dropped their price target on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. reduced their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Citigroup dropped their target price on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Finally, Evercore ISI reduced their price target on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $112.73.

PACCAR Trading Down 0.6 %

PACCAR stock opened at $98.91 on Friday. The firm 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. The stock’s 50 day simple moving average is $96.95 and its two-hundred day simple moving average is $106.15. 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 earnings per share (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 firm had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.30 billion. During the same period last year, the company posted $2.33 earnings per share. The business’s quarterly revenue was down 2.1% on a year-over-year basis. Analysts anticipate that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a $0.30 dividend. 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%.

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.