Voleon Capital Management LP Buys New Stake in PACCAR Inc. $PCAR

Voleon Capital Management LP bought a new stake in PACCAR Inc. (NASDAQ:PCAR) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,234 shares of the company’s stock, valued at approximately $996,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. lifted its stake in PACCAR by 666.7% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock valued at $27,000 after buying an additional 240 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in shares of PACCAR during the 1st quarter worth $29,000. Sunbelt Securities Inc. lifted its stake in shares of PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock worth $37,000 after purchasing an additional 350 shares during the period. Bayforest Capital Ltd lifted its stake in shares of PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after purchasing an additional 274 shares during the period. Finally, Accent Capital Management LLC purchased a new position in shares of PACCAR during the 1st quarter worth $40,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 39,965 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the completion of the sale, the chief executive officer directly owned 223,190 shares in the company, valued at approximately $22,211,868.80. This represents a 15.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the sale, the chief financial officer owned 468 shares of the company’s stock, valued at approximately $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on PCAR. Argus raised PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Monday, July 28th. JPMorgan Chase & Co. increased their price target on PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Vertical Research raised PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. UBS Group raised PACCAR from a “sell” rating to a “neutral” rating and increased their price target for the stock from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Finally, Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, PACCAR currently has an average rating of “Moderate Buy” and a consensus price target of $107.68.

PACCAR Trading Down 0.8%

Shares of PCAR opened at $98.25 on Tuesday. 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 firm has a market capitalization of $51.59 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of 3.98 and a beta of 0.94. The stock’s fifty day simple moving average is $98.32 and its 200 day simple moving average is $96.19. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.09. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The business’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period last year, the company posted $2.13 EPS. On average, equities research analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.3%. The ex-dividend date was Thursday, August 14th. PACCAR’s dividend payout ratio is currently 22.60%.

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.