2,561 Shares in PACCAR Inc (NASDAQ:PCAR) Bought by TrueMark Investments LLC

TrueMark Investments LLC acquired a new stake in PACCAR Inc (NASDAQ:PCAR) in the 2nd quarter, Holdings Channel reports. The fund acquired 2,561 shares of the company’s stock, valued at approximately $264,000.

Several other hedge funds also recently made changes to their positions in PCAR. State Board of Administration of Florida Retirement System increased its holdings in shares of PACCAR by 4.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after acquiring an additional 27,963 shares during the period. BDF Gestion acquired a new stake in shares of PACCAR during the second quarter worth about $2,862,000. California State Teachers Retirement System boosted its stake in shares of PACCAR by 1.2% during the fourth quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock worth $80,430,000 after buying an additional 9,978 shares during the period. Advisory Services Network LLC grew its holdings in shares of PACCAR by 15.9% during the first quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after buying an additional 7,678 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in PACCAR by 18.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock valued at $82,590,000 after acquiring an additional 105,109 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were 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 directly owns 162,782 shares in the company, valued at $16,066,583.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ:PCAR traded up $1.53 during midday trading on Friday, hitting $96.18. 2,352,432 shares of the stock were exchanged, compared to its average volume of 2,630,389. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. The stock has a market cap of $50.41 billion, a P/E ratio of 9.98, a PEG ratio of 1.47 and a beta of 0.92. 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 company has a 50 day moving average price of $99.29 and a 200-day moving average price of $107.73.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same quarter last year, the business earned $2.33 EPS. PACCAR’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, research analysts forecast that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.25%. The ex-dividend date is Thursday, August 15th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Analysts Set New Price Targets

PCAR has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Evercore ISI cut their price objective on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Raymond James initiated coverage on shares of PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $112.73.

PACCAR 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.