Susquehanna Fundamental Investments LLC Lowers Stock Holdings in PACCAR Inc. $PCAR

Susquehanna Fundamental Investments LLC reduced its stake in PACCAR Inc. (NASDAQ:PCAR) by 20.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 296,577 shares of the company’s stock after selling 74,340 shares during the quarter. Susquehanna Fundamental Investments LLC owned about 0.06% of PACCAR worth $35,625,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in PACCAR during the second quarter valued at $4,927,720,000. Wellington Management Group LLP increased its holdings in shares of PACCAR by 18.6% during the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after acquiring an additional 3,597,283 shares in the last quarter. State Street Corp raised its position in shares of PACCAR by 0.4% in the 4th quarter. State Street Corp now owns 22,497,197 shares of the company’s stock worth $2,494,269,000 after purchasing an additional 94,869 shares during the last quarter. Geode Capital Management LLC boosted its stake in PACCAR by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after purchasing an additional 50,622 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in PACCAR in the 2nd quarter worth about $1,130,496,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $125.34 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12. The firm has a market cap of $65.97 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 0.99 and a beta of 0.97. The business has a 50-day simple moving average of $127.35 and a two-hundred day simple moving average of $121.89. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $139.24.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.07. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $1.37 earnings per share. On average, analysts expect that PACCAR Inc. will post 5.89 earnings per share for the current year.

PACCAR Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on PCAR. Citigroup raised their price objective on shares of PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of PACCAR in a research note on Tuesday, August 18th. Morgan Stanley set a $119.00 price target on shares of PACCAR in a report on Wednesday, July 29th. Wells Fargo & Company raised their price target on shares of PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, Evercore set a $139.00 price objective on PACCAR in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, PACCAR presently has an average rating of “Hold” and an average price target of $131.70.

Insider Transactions at PACCAR

In other PACCAR news, VP Paulo Henrique Bolgar sold 2,897 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.90, for a total transaction of $387,908.30. Following the completion of the sale, the vice president directly owned 3,831 shares in the company, valued at $512,970.90. The trade was a 43.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO R Preston Feight sold 50,975 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were 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 of the company’s stock, valued at $35,745,928.75. The trade was a 15.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 56,842 shares of company stock valued at $7,565,677. Corporate insiders own 1.99% of the company’s stock.

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.