PACCAR Inc (NASDAQ:PCAR) Position Increased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lifted its position in PACCAR Inc (NASDAQ:PCAR) by 25.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 24,290 shares of the company’s stock after buying an additional 4,897 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in PACCAR were worth $2,500,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. YHB Investment Advisors Inc. acquired a new position in PACCAR in the 1st quarter worth approximately $27,000. New Covenant Trust Company N.A. acquired a new stake in PACCAR during the 1st quarter valued at $27,000. Riverview Trust Co purchased a new stake in shares of PACCAR in the first quarter valued at $29,000. Meeder Asset Management Inc. boosted its position in shares of PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after buying an additional 205 shares during the period. Finally, Rise Advisors LLC purchased a new position in shares of PACCAR during the first quarter valued at $31,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the sale, 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 legal filing with the SEC, which is available through this link. Insiders own 2.02% of the company’s stock.

PACCAR Trading Down 0.6 %

Shares of NASDAQ:PCAR opened at $98.91 on Friday. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $51.85 billion, a PE ratio of 10.26, a P/E/G ratio of 1.48 and a beta of 0.91. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50. The firm has a fifty day moving average price of $96.95 and a 200 day moving average price of $106.15.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). The company had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.33 EPS. Analysts expect that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.21%. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Wall Street Analysts Forecast Growth

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

About PACCAR

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.