Scientech Research LLC Acquires 5,039 Shares of PACCAR Inc (NASDAQ:PCAR)

Scientech Research LLC boosted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 145.1% during the second quarter, HoldingsChannel reports. The fund owned 8,512 shares of the company’s stock after purchasing an additional 5,039 shares during the quarter. Scientech Research LLC’s holdings in PACCAR were worth $876,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PCAR. Dimensional Fund Advisors LP grew its stake in shares of PACCAR by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock worth $557,572,000 after purchasing an additional 171,317 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in PACCAR by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock worth $479,466,000 after buying an additional 83,444 shares during the period. Legal & General Group Plc grew its position in shares of PACCAR by 5.9% in the 2nd quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock valued at $445,681,000 after buying an additional 242,435 shares during the last quarter. Capital International Investors increased its stake in shares of 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 buying an additional 1,225,468 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of PACCAR by 1.5% in the second quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock worth $331,403,000 after acquiring an additional 48,784 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 owns 162,782 shares in the company, valued at $16,066,583.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PCAR shares. Truist Financial cut 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. Evercore ISI cut their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. cut their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $112.73.

PACCAR Price Performance

Shares of PCAR opened at $98.13 on Friday. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. The business’s 50 day moving average price is $96.18 and its two-hundred day moving average price is $105.76. The firm has a market cap of $51.44 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 1.53 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). The firm 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 in the prior year, the firm earned $2.33 EPS. On average, equities analysts anticipate that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders 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 dividend yield of 1.22%. PACCAR’s dividend payout ratio is 12.45%.

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.