Insight Inv LLC Has $1.50 Million Stake in PACCAR Inc. $PCAR

Insight Inv LLC decreased its position in PACCAR Inc. (NASDAQ:PCAR) by 1.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 15,797 shares of the company’s stock after selling 250 shares during the period. Insight Inv LLC’s holdings in PACCAR were worth $1,502,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Maryland State Retirement & Pension System lifted its holdings in PACCAR by 4.2% in the second quarter. Maryland State Retirement & Pension System now owns 25,049 shares of the company’s stock valued at $2,381,000 after buying an additional 1,003 shares during the period. Bellevue Asset Management LLC lifted its holdings in PACCAR by 10.2% in the second quarter. Bellevue Asset Management LLC now owns 3,478 shares of the company’s stock valued at $331,000 after buying an additional 322 shares during the period. KLP Kapitalforvaltning AS lifted its holdings in PACCAR by 6.4% in the second quarter. KLP Kapitalforvaltning AS now owns 328,236 shares of the company’s stock valued at $31,202,000 after buying an additional 19,600 shares during the period. Clarius Group LLC lifted its holdings in PACCAR by 4.2% in the second quarter. Clarius Group LLC now owns 2,426,220 shares of the company’s stock valued at $230,636,000 after buying an additional 96,841 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new position in PACCAR in the second quarter valued at $71,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Activity

In other news, CFO Brice J. Poplawski sold 5,000 shares of the business’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer directly owned 468 shares of the company’s stock, valued at $47,239.92. The trade was a 91.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO R Preston Feight sold 39,965 shares of the business’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the sale, the chief executive officer directly owned 223,190 shares of the company’s stock, valued at approximately $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of PACCAR from $95.00 to $97.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Citigroup lifted their price target on shares of PACCAR from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, June 24th. Vertical Research raised shares of PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of PACCAR in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $107.59.

PACCAR Trading Down 1.0%

PCAR opened at $95.73 on Thursday. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average price of $98.87 and a two-hundred day moving average price of $95.62. The company has a market cap of $50.27 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 3.94 and a beta of 0.94. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $118.81.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.28 by $0.09. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.13 earnings per share. Analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. PACCAR’s payout ratio is presently 22.60%.

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.