AGF Management Ltd. Raises Stake in PACCAR Inc (NASDAQ:PCAR)

AGF Management Ltd. boosted its position in PACCAR Inc (NASDAQ:PCAR) by 2.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 48,483 shares of the company’s stock after purchasing an additional 1,361 shares during the period. AGF Management Ltd.’s holdings in PACCAR were worth $4,056,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC lifted its position in PACCAR by 86.2% in the second quarter. Larson Financial Group LLC now owns 296 shares of the company’s stock valued at $25,000 after purchasing an additional 137 shares during the last quarter. Avalon Trust Co bought a new stake in PACCAR in the first quarter valued at approximately $27,000. Key Financial Inc lifted its position in PACCAR by 5,614.3% in the first quarter. Key Financial Inc now owns 400 shares of the company’s stock valued at $29,000 after purchasing an additional 393 shares during the last quarter. Grove Bank & Trust lifted its position in PACCAR by 72.4% in the first quarter. Grove Bank & Trust now owns 393 shares of the company’s stock valued at $29,000 after purchasing an additional 165 shares during the last quarter. Finally, Marquette Asset Management LLC bought a new stake in PACCAR in the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 65.68% of the company’s stock.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded PACCAR from a “hold” rating to a “buy” rating and upped their target price for the company from $94.00 to $115.00 in a report on Wednesday, October 25th. Credit Suisse Group upped their target price on PACCAR from $84.00 to $90.00 in a report on Wednesday, July 26th. Raymond James upped their target price on PACCAR from $90.00 to $105.00 and gave the company a “strong-buy” rating in a report on Thursday, July 20th. Citigroup upped their target price on PACCAR from $90.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Finally, JPMorgan Chase & Co. upped their target price on PACCAR from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and an average price target of $82.32.

Insider Buying and Selling

In related news, CFO Harrie Schippers sold 23,221 shares of PACCAR stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $86.28, for a total value of $2,003,507.88. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this link. In other PACCAR news, VP Todd R. Hubbard sold 3,004 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $83.42, for a total transaction of $250,593.68. Following the completion of the sale, the vice president now directly owns 3,230 shares in the company, valued at approximately $269,446.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Harrie Schippers sold 23,221 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $86.28, for a total value of $2,003,507.88. Following the sale, the chief financial officer now owns 93,522 shares of the company’s stock, valued at $8,069,078.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,221 shares of company stock worth $2,426,915. 2.06% of the stock is owned by corporate insiders.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $90.45 on Thursday. PACCAR Inc has a 1-year low of $64.33 and a 1-year high of $91.50. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.61 and a quick ratio of 2.38. The business has a fifty day moving average price of $85.22 and a 200-day moving average price of $81.86. The company has a market capitalization of $47.31 billion, a PE ratio of 11.55, a PEG ratio of 0.98 and a beta of 0.89.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.27. PACCAR had a return on equity of 31.31% and a net margin of 12.01%. The firm had revenue of $8.70 billion during the quarter, compared to the consensus estimate of $8.19 billion. During the same period last year, the company earned $1.47 earnings per share. The company’s revenue was up 23.2% on a year-over-year basis. As a group, equities analysts expect that PACCAR Inc will post 8.99 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, December 6th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.19%. PACCAR’s payout ratio is 13.79%.

About PACCAR

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.