Apella Capital LLC Takes $624,000 Position in PACCAR Inc (NASDAQ:PCAR)

Apella Capital LLC acquired a new position in PACCAR Inc (NASDAQ:PCAR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,461 shares of the company’s stock, valued at approximately $624,000.

A number of other large investors also recently bought and sold shares of PCAR. BlackRock Inc. raised its stake in PACCAR by 42.2% in the first quarter. BlackRock Inc. now owns 37,017,180 shares of the company’s stock worth $2,709,658,000 after buying an additional 10,991,638 shares in the last quarter. State Street Corp raised its stake in PACCAR by 49.0% in the first quarter. State Street Corp now owns 21,345,321 shares of the company’s stock worth $1,562,477,000 after buying an additional 7,020,923 shares in the last quarter. FMR LLC increased its position in shares of PACCAR by 102.3% during the first quarter. FMR LLC now owns 10,753,621 shares of the company’s stock worth $787,165,000 after purchasing an additional 5,437,025 shares in the last quarter. Fisher Asset Management LLC acquired a new position in shares of PACCAR during the first quarter worth $347,790,000. Finally, Geode Capital Management LLC increased its position in shares of PACCAR by 53.3% during the first quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company’s stock worth $858,948,000 after purchasing an additional 4,082,677 shares in the last quarter. Institutional investors own 65.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PCAR. StockNews.com began coverage on PACCAR in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Citigroup upped their price target on PACCAR from $88.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, July 27th. Jefferies Financial Group raised PACCAR from a “hold” rating to a “buy” rating in a research report on Monday, July 17th. Raymond James upped their price target on PACCAR from $90.00 to $105.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 20th. Finally, Credit Suisse Group boosted their price objective on shares of PACCAR from $84.00 to $90.00 in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $74.57.

PACCAR Trading Up 3.1 %

Shares of PACCAR stock opened at $85.87 on Friday. The firm has a 50-day simple moving average of $85.16 and a two-hundred day simple moving average of $76.77. The company has a market cap of $44.89 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 0.97 and a beta of 0.96. PACCAR Inc has a fifty-two week low of $54.64 and a fifty-two week high of $90.05. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.32 and a current ratio of 2.57.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.15. The firm had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.31 billion. PACCAR had a net margin of 11.20% and a return on equity of 29.75%. PACCAR’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period last year, the company posted $1.38 EPS. As a group, equities analysts predict that PACCAR Inc will post 8.54 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, December 6th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, November 14th. PACCAR’s dividend payout ratio (DPR) is 15.51%.

Insider Transactions at PACCAR

In related news, CFO Harrie Schippers sold 24,000 shares of PACCAR stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $86.07, for a total value of $2,065,680.00. Following the completion of the sale, the chief financial officer now owns 93,522 shares in the company, valued at approximately $8,049,438.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Harrie Schippers sold 24,000 shares of PACCAR stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $86.07, for a total value of $2,065,680.00. Following the completion of the sale, the chief financial officer now owns 93,522 shares in the company, valued at approximately $8,049,438.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Todd R. Hubbard sold 6,000 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $85.19, for a total transaction of $511,140.00. Following the completion of the transaction, the vice president now owns 3,230 shares of the company’s stock, valued at approximately $275,163.70. The disclosure for this sale can be found here. Insiders sold 86,059 shares of company stock worth $7,401,818 in the last 90 days. Insiders own 2.06% of the company’s stock.

PACCAR Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.