Strategic Blueprint LLC Sells 612 Shares of PACCAR Inc (NASDAQ:PCAR)

Strategic Blueprint LLC reduced its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 10.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,175 shares of the company’s stock after selling 612 shares during the quarter. Strategic Blueprint LLC’s holdings in PACCAR were worth $533,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PCAR. State Board of Administration of Florida Retirement System increased its position in shares of 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 purchasing an additional 27,963 shares during the last quarter. BDF Gestion bought a new position in PACCAR during the second quarter valued at about $2,862,000. California State Teachers Retirement System increased its holdings in PACCAR by 1.2% during the fourth quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock worth $80,430,000 after buying an additional 9,978 shares during the last quarter. Advisory Services Network LLC raised its position in PACCAR by 15.9% in the first quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after acquiring an additional 7,678 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in PACCAR by 18.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock valued at $82,590,000 after acquiring an additional 105,109 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity

In related news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, the chief executive officer now directly owns 162,782 shares in the company, valued at $16,066,583.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PCAR shares. Evercore ISI decreased 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 note on Monday, August 19th. Deutsche Bank Aktiengesellschaft decreased their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lowered their target price on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Raymond James started coverage on PACCAR in a research note on Friday, June 28th. They set a “market perform” rating for the company. Finally, Citigroup decreased their price objective on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, PACCAR presently has an average rating of “Hold” and an average price target of $112.73.

PACCAR Stock Performance

NASDAQ PCAR opened at $94.65 on Friday. The company’s 50 day simple moving average is $99.54 and its two-hundred day simple moving average is $107.82. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50. The stock has a market capitalization of $49.61 billion, a PE ratio of 9.82, a P/E/G ratio of 1.47 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data 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). The business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the business posted $2.33 EPS. Analysts predict that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be issued a $0.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.27%. PACCAR’s payout ratio is currently 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.