Foster & Motley Inc. Makes New Investment in PACCAR Inc. $PCAR

Foster & Motley Inc. bought a new stake in PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 52,978 shares of the company’s stock, valued at approximately $6,364,000.

Several other institutional investors have also modified their holdings of PCAR. Deseret Mutual Benefit Administrators grew its holdings in shares of PACCAR by 9.9% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock valued at $97,000 after purchasing an additional 80 shares during the period. Gulf International Bank UK Ltd raised its stake in PACCAR by 0.3% during the fourth quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock worth $2,869,000 after purchasing an additional 81 shares during the period. CYBER HORNET ETFs LLC raised its stake in PACCAR by 6.2% during the fourth quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock worth $163,000 after purchasing an additional 87 shares during the period. Parkside Financial Bank & Trust boosted its holdings in PACCAR by 3.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock valued at $317,000 after purchasing an additional 87 shares during the last quarter. Finally, MCF Advisors LLC boosted its holdings in PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after purchasing an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. upped their price objective on PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Morgan Stanley set a $119.00 price objective on PACCAR in a research report on Wednesday, July 29th. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, Evercore set a $139.00 target price on PACCAR in a research report on Monday, May 11th. Two analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and an average target price of $131.70.

Insider Activity at PACCAR

In other PACCAR news, VP William Lance Walters sold 1,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.50, for a total value of $133,500.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO R Preston Feight sold 50,975 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the sale, the chief executive officer directly owned 268,625 shares in the company, valued at approximately $35,745,928.75. The trade was a 15.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 56,842 shares of company stock valued at $7,565,677. Company insiders own 1.99% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $128.02 on Wednesday. The stock’s 50-day moving average is $125.73 and its two-hundred day moving average is $121.76. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $139.24. The company has a market cap of $67.38 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $1.37 EPS. Analysts forecast that PACCAR Inc. will post 5.85 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s dividend payout ratio is 29.41%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.