Interchange Capital Partners LLC Invests $254,000 in PACCAR Inc (NASDAQ:PCAR)

Interchange Capital Partners LLC purchased a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,465 shares of the company’s stock, valued at approximately $254,000.

Other large investors have also modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its position in PACCAR by 4.8% in the first 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 buying an additional 27,963 shares during the last quarter. BDF Gestion purchased a new stake in PACCAR in the second quarter valued at approximately $2,862,000. California State Teachers Retirement System boosted its position in PACCAR by 1.2% in the fourth quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock valued at $80,430,000 after buying an additional 9,978 shares during the last quarter. Advisory Services Network LLC boosted 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 valued at $6,944,000 after buying an additional 7,678 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position 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 buying 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 at PACCAR

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

PACCAR Trading Up 1.6 %

Shares of PCAR stock opened at $96.18 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54. The company has a market cap of $50.41 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 1.49 and a beta of 0.92. The stock has a 50 day simple moving average of $99.10 and a 200-day simple moving average of $107.68. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.01). The business had revenue of $8.26 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company earned $2.33 earnings per share. On average, equities research analysts expect that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s dividend payout ratio is currently 12.45%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PCAR. Citigroup dropped their target price on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft decreased their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. decreased their price target on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Evercore ISI decreased their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Finally, Truist Financial decreased their price target on PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, PACCAR has a consensus rating of “Hold” and a consensus price target of $112.73.

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.