Rakuten Investment Management Inc. Invests $8.41 Million in PACCAR Inc. $PCAR

Rakuten Investment Management Inc. purchased a new stake in shares of PACCAR Inc. (NASDAQ:PCAR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 85,551 shares of the company’s stock, valued at approximately $8,411,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCAR. Hazlett Burt & Watson Inc. lifted its stake in PACCAR by 53.8% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after purchasing an additional 100 shares in the last quarter. Fidelis Capital Partners LLC raised its holdings in shares of PACCAR by 2.9% during the 2nd quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock worth $366,000 after acquiring an additional 105 shares in the last quarter. Intellectus Partners LLC boosted its position in shares of PACCAR by 1.0% during the 2nd quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock valued at $1,015,000 after acquiring an additional 109 shares during the last quarter. Matrix Trust Co grew its holdings in shares of PACCAR by 3.9% in the third quarter. Matrix Trust Co now owns 2,948 shares of the company’s stock valued at $290,000 after purchasing an additional 110 shares in the last quarter. Finally, Forbes J M & Co. LLP lifted its position in PACCAR by 4.3% during the third quarter. Forbes J M & Co. LLP now owns 2,664 shares of the company’s stock valued at $262,000 after purchasing an additional 111 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

PACCAR stock opened at $123.26 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 3.12. The company has a market capitalization of $64.74 billion, a PE ratio of 24.12, a P/E/G ratio of 14.74 and a beta of 1.01. The company has a 50 day moving average price of $110.31 and a 200-day moving average price of $102.51. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $123.99.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $7.24 billion during the quarter, compared to the consensus estimate of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The company’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.85 EPS. As a group, equities analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, February 11th. PACCAR’s payout ratio is 25.83%.

Insider Buying and Selling

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction on Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the transaction, the chief financial officer directly owned 468 shares of the company’s stock, valued at approximately $47,338.20. The trade was a 87.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.02% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Sanford C. Bernstein reissued an “outperform” rating and set a $125.00 price objective on shares of PACCAR in a research note on Friday, December 5th. Wall Street Zen downgraded PACCAR from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Wells Fargo & Company began coverage on PACCAR in a research report on Thursday, November 13th. They issued a “positive” rating and a $106.00 price target for the company. Wolfe Research upgraded shares of PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of PACCAR in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $112.33.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.