Norris Perne & French LLP MI Makes New Investment in PACCAR Inc. $PCAR

Norris Perne & French LLP MI acquired a new position in PACCAR Inc. (NASDAQ:PCAR) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 20,672 shares of the company’s stock, valued at approximately $2,270,000.

A number of other large investors have also recently bought and sold shares of PCAR. BlackRock Inc. acquired a new stake in shares of PACCAR in the second quarter valued at $4,927,720,000. Bank of America Corp DE bought a new position in shares of PACCAR during the second quarter worth $1,130,496,000. Bank of New York Mellon Corp acquired a new position in shares of PACCAR in the 2nd quarter valued at $453,107,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of PACCAR by 9.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,424,315 shares of the company’s stock valued at $411,329,000 after buying an additional 305,215 shares during the period. Finally, Amundi grew its holdings in shares of PACCAR by 108.7% in the 2nd quarter. Amundi now owns 3,197,359 shares of the company’s stock valued at $384,066,000 after buying an additional 1,665,545 shares during the period. 64.90% of the stock is currently owned by institutional investors.

PACCAR Trading Down 2.4%

NASDAQ:PCAR opened at $106.96 on Friday. The company has a market cap of $56.30 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 1.23 and a beta of 0.98. PACCAR Inc. has a twelve month low of $93.86 and a twelve month high of $139.24. The business has a 50 day moving average price of $117.32 and a two-hundred day moving average price of $120.21. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same period last year, the company earned $1.37 earnings per share. The firm’s revenue was up .5% compared to the same quarter last year. As a group, analysts expect that PACCAR Inc. will post 5.91 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 11th will be issued a dividend of $0.35 per share. The ex-dividend date is Tuesday, November 10th. This represents a $1.40 annualized dividend and a yield of 1.3%. PACCAR’s dividend payout ratio is presently 29.41%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PCAR. Morgan Stanley set a $125.00 target price on PACCAR and gave the stock an “equal weight” rating in a report on Friday, September 4th. BNP Paribas Exane lowered their price target on PACCAR from $136.00 to $107.00 and set a “neutral” rating for the company in a report on Tuesday, October 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PACCAR in a research report on Tuesday, August 18th. Sanford C. Bernstein reiterated an “outperform” rating and set a $148.00 price objective (up from $142.00) on shares of PACCAR in a report on Wednesday, July 29th. Finally, Jefferies Financial Group boosted their price objective on PACCAR from $120.00 to $140.00 and gave the company a “hold” rating in a research report on Wednesday, July 29th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $133.88.

Insider Buying and Selling at PACCAR

In related news, CEO R Feight sold 50,975 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.07, for a total value of $6,783,243.25. Following the completion of the transaction, the chief executive officer owned 268,625 shares of the company’s stock, valued at approximately $35,745,928.75. This trade represents a 15.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brice J. Poplawski sold 1,970 shares of PACCAR stock in a transaction on Friday, July 31st. The shares were sold at an average price of $132.50, for a total transaction of $261,025.00. Following the completion of the sale, the chief financial officer owned 1,391 shares in the company, valued at $184,307.50. The trade was a 58.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 56,842 shares of company stock worth $7,565,677 in the last three months. 1.99% of the stock is currently owned by company insiders.

PACCAR Profile

PACCAR Inc (NASDAQ: PCAR) is a global manufacturer of heavy- and medium-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company produces vehicles used for long-haul transportation, construction, distribution and other commercial applications. PACCAR also manufactures PACCAR-branded engines and provides related parts and aftermarket support.

The company’s operations extend across North America, Europe, South America, Australia and other international markets. In addition to truck manufacturing, PACCAR operates a worldwide parts distribution network and offers financial services, including retail financing and leasing for trucks and related equipment.