Epoch Investment Partners Inc. Boosts Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Epoch Investment Partners Inc. grew its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 9.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,441,597 shares of the company’s stock after buying an additional 123,072 shares during the quarter. Epoch Investment Partners Inc.’s holdings in PACCAR were worth $148,398,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. YHB Investment Advisors Inc. purchased a new stake in PACCAR during the first quarter valued at about $27,000. New Covenant Trust Company N.A. acquired a new position in shares of PACCAR in the 1st quarter valued at about $27,000. Riverview Trust Co purchased a new stake in shares of PACCAR during the 1st quarter worth about $29,000. Meeder Asset Management Inc. increased its position in PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after purchasing an additional 205 shares in the last quarter. Finally, Rise Advisors LLC purchased a new position in PACCAR in the first quarter valued at approximately $31,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PACCAR

In other 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 owns 162,782 shares in the company, valued at approximately $16,066,583.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.02% of the stock is currently owned by insiders.

PACCAR Stock Performance

PACCAR stock opened at $98.91 on Friday. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50. 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 cap of $51.85 billion, a P/E ratio of 10.26, a price-to-earnings-growth ratio of 1.48 and a beta of 0.91. The stock has a 50 day moving average of $96.95 and a 200-day moving average of $106.15.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 14.07% and a return on equity of 29.87%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.33 earnings per share. On average, 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 Wednesday, December 4th. Investors of record on Wednesday, November 13th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 12.45%.

Analyst Ratings Changes

Several equities research analysts have issued reports on PCAR shares. Citigroup decreased their price objective on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Truist Financial reduced their price objective on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Raymond James initiated coverage on PACCAR in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average 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.