Pure Financial Advisors LLC Takes $749,000 Position in PACCAR Inc. $PCAR

Pure Financial Advisors LLC acquired a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 6,239 shares of the company’s stock, valued at approximately $749,000.

Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. acquired a new position in PACCAR during the second quarter worth approximately $4,927,720,000. Bank of America Corp DE purchased a new position in PACCAR during the second quarter worth approximately $1,130,496,000. Norges Bank acquired a new position in shares of PACCAR in the 4th quarter valued at $727,745,000. Bank of New York Mellon Corp acquired a new position in shares of PACCAR in the 2nd quarter valued at $453,107,000. Finally, Wellington Management Group LLP grew its stake in shares of PACCAR by 18.6% during the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after buying an additional 3,597,283 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Paulo Henrique Bolgar sold 2,897 shares of PACCAR stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.90, for a total transaction of $387,908.30. Following the sale, the vice president directly owned 3,831 shares of the company’s stock, valued at approximately $512,970.90. The trade was a 43.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brice J. Poplawski sold 1,970 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $132.50, for a total value of $261,025.00. Following the completion of the transaction, the chief financial officer directly owned 1,391 shares of the company’s stock, valued at $184,307.50. This represents a 58.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 56,842 shares of company stock valued at $7,565,677 over the last ninety days. 1.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Morgan Stanley set a $119.00 price target on PACCAR in a research report on Wednesday, July 29th. Evercore set a $139.00 price objective on PACCAR in a report on Monday, May 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PACCAR in a research note on Tuesday, August 18th. Finally, JPMorgan Chase & Co. boosted their target price on PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, PACCAR has an average rating of “Hold” and a consensus target price of $131.70.

PACCAR Trading Up 0.0%

Shares of PCAR opened at $129.23 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $139.24. The stock has a market cap of $68.02 billion, a PE ratio of 27.15, a P/E/G ratio of 1.02 and a beta of 0.97. The stock’s 50-day moving average is $127.07 and its two-hundred day moving average is $121.91.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.36 by $0.07. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The company’s revenue was up .5% on a year-over-year basis. During the same period last year, the business posted $1.37 EPS. Equities analysts forecast that PACCAR Inc. will post 5.89 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s payout ratio is presently 29.41%.

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.