2,205 Shares in PACCAR Inc (NASDAQ:PCAR) Acquired by Summit Global Investments

Summit Global Investments bought a new stake in PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,205 shares of the company’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PCAR. Massachusetts Financial Services Co. MA lifted its position in PACCAR by 0.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock valued at $730,116,000 after purchasing an additional 23,865 shares during the period. Northern Trust Corp boosted its stake in PACCAR by 6.0% in the third quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock valued at $471,079,000 after acquiring an additional 316,001 shares during the last quarter. Fisher Asset Management LLC grew its holdings in PACCAR by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock worth $480,104,000 after acquiring an additional 89,984 shares during the period. Invesco Ltd. raised its position in shares of PACCAR by 9.9% during the 3rd quarter. Invesco Ltd. now owns 3,645,267 shares of the company’s stock valued at $309,921,000 after acquiring an additional 328,347 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of PACCAR by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,913,341 shares of the company’s stock valued at $247,692,000 after purchasing an additional 15,599 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling

In other news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the sale, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.08, for a total value of $3,479,105.76. Following the sale, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,984,265.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,920 shares of company stock worth $4,650,324. Corporate insiders own 2.02% of the company’s stock.

PACCAR Trading Up 0.3 %

Shares of PCAR stock opened at $105.15 on Tuesday. The company has a market capitalization of $55.11 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96. The firm has a 50 day moving average price of $116.28 and a two-hundred day moving average price of $102.94. The company has a quick ratio of 2.49, a current ratio of 2.73 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 12-month low of $68.40 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same period last year, the firm earned $2.25 earnings per share. PACCAR’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts predict that PACCAR Inc will post 8.26 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Tuesday, May 14th. This is an increase from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio is 11.20%.

Analyst Ratings Changes

A number of research firms recently commented on PCAR. Royal Bank of Canada initiated coverage on PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price objective for the company. The Goldman Sachs Group raised their price objective on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. TD Cowen increased their price target on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a report on Wednesday, January 24th. Morgan Stanley assumed coverage on PACCAR in a research report on Monday, January 8th. They set an “overweight” rating and a $125.00 price target on the stock. Finally, UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.62.

About PACCAR

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.