PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. boosted its position in PACCAR Inc (NASDAQ:PCAR) by 172.6% during the third quarter, Holdings Channel.com reports. The fund owned 3,816 shares of the company’s stock after purchasing an additional 2,416 shares during the quarter. Blue Trust Inc.’s holdings in PACCAR were worth $393,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in PACCAR by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock valued at $557,572,000 after purchasing an additional 171,317 shares during the period. Legal & General Group Plc raised its position in PACCAR by 5.9% in the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock valued at $445,681,000 after purchasing an additional 242,435 shares during the period. Capital International Investors raised its position in PACCAR by 44.8% in the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after purchasing an additional 1,225,468 shares during the period. Principal Financial Group Inc. raised its position in PACCAR by 1.5% in the second quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock valued at $331,403,000 after purchasing an additional 48,784 shares during the period. Finally, TD Asset Management Inc raised its position in PACCAR by 24.3% in the first quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock valued at $319,218,000 after purchasing an additional 504,346 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Down 0.9 %

NASDAQ:PCAR opened at $103.80 on Thursday. The company has a market capitalization of $54.41 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. PACCAR Inc has a one year low of $80.94 and a one year high of $125.50. The stock has a 50-day simple moving average of $98.98 and a 200 day simple moving average of $103.41. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the firm earned $2.34 earnings per share. Sell-side analysts predict that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.16%. PACCAR’s payout ratio is currently 12.71%.

Analysts Set New Price Targets

Several research analysts have commented on the company. BNP Paribas raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Citigroup lifted their target price on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft dropped their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Morgan Stanley dropped their target price on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $114.18.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction that occurred 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 in the company, valued at $16,066,583.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.02% of the stock is currently owned by insiders.

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.