PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its position in PACCAR Inc (NASDAQ:PCAR) by 34.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 342,717 shares of the company’s stock after acquiring an additional 87,900 shares during the period. Canada Pension Plan Investment Board owned about 0.07% of PACCAR worth $28,668,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Lido Advisors LLC raised its position in shares of PACCAR by 6.0% during the 2nd quarter. Lido Advisors LLC now owns 5,649 shares of the company’s stock worth $473,000 after purchasing an additional 320 shares during the last quarter. Banque Cantonale Vaudoise raised its position in shares of PACCAR by 5.5% during the 2nd quarter. Banque Cantonale Vaudoise now owns 23,390 shares of the company’s stock worth $1,956,000 after purchasing an additional 1,222 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of PACCAR by 3.0% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 91,140 shares of the company’s stock worth $7,624,000 after purchasing an additional 2,648 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in PACCAR by 3.1% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 482,890 shares of the company’s stock valued at $40,394,000 after acquiring an additional 14,609 shares in the last quarter. Finally, Soltis Investment Advisors LLC purchased a new stake in PACCAR during the 2nd quarter valued at about $213,000. Institutional investors and hedge funds own 65.68% of the company’s stock.

Insider Buying and Selling

In other PACCAR news, VP Todd R. Hubbard sold 1,996 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $86.58, for a total transaction of $172,813.68. Following the sale, the vice president now directly owns 3,230 shares in the company, valued at approximately $279,653.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other PACCAR news, CFO Harrie Schippers sold 23,221 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $86.28, for a total transaction of $2,003,507.88. Following the sale, the chief financial officer now directly owns 93,522 shares in the company, valued at approximately $8,069,078.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Todd R. Hubbard sold 1,996 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $86.58, for a total transaction of $172,813.68. Following the sale, the vice president now owns 3,230 shares in the company, valued at $279,653.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,221 shares of company stock valued at $2,426,915. Company insiders own 2.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PCAR shares. Raymond James upped their price objective on shares of PACCAR from $90.00 to $105.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 20th. Deutsche Bank Aktiengesellschaft raised shares of PACCAR from a “hold” rating to a “buy” rating and upped their price objective for the company from $94.00 to $115.00 in a research note on Wednesday, October 25th. StockNews.com started coverage on shares of PACCAR in a research note on Thursday, October 5th. They set a “buy” rating for the company. JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $105.00 to $107.00 and gave the company an “overweight” rating in a research note on Wednesday, October 25th. Finally, Credit Suisse Group increased their price target on shares of PACCAR from $84.00 to $90.00 in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of “Hold” and an average target price of $82.32.

PACCAR Stock Performance

NASDAQ:PCAR opened at $90.67 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.38 and a current ratio of 2.61. The stock has a market capitalization of $47.43 billion, a P/E ratio of 11.58, a PEG ratio of 0.98 and a beta of 0.89. The company has a 50 day moving average price of $85.06 and a 200 day moving average price of $81.80. PACCAR Inc has a fifty-two week low of $64.33 and a fifty-two week high of $91.09.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.27. The firm had revenue of $8.70 billion during the quarter, compared to analysts’ expectations of $8.19 billion. PACCAR had a net margin of 12.01% and a return on equity of 31.31%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the company posted $1.47 EPS. Equities research analysts forecast that PACCAR Inc will post 8.99 EPS for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, December 6th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.19%. PACCAR’s payout ratio is currently 13.79%.

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.