PGGM Investments Has $10.75 Million Position in PACCAR Inc (NASDAQ:PCAR)

PGGM Investments boosted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,408 shares of the company’s stock after acquiring an additional 2,392 shares during the quarter. PGGM Investments’ holdings in PACCAR were worth $10,748,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC grew its holdings in shares of PACCAR by 3.8% during the first quarter. Miracle Mile Advisors LLC now owns 2,480 shares of the company’s stock valued at $307,000 after buying an additional 91 shares during the last quarter. Morningstar Investment Management LLC boosted its stake in PACCAR by 1.3% during the 4th quarter. Morningstar Investment Management LLC now owns 7,575 shares of the company’s stock valued at $740,000 after purchasing an additional 97 shares during the last quarter. Graypoint LLC boosted its stake in PACCAR by 2.9% during the 1st quarter. Graypoint LLC now owns 3,557 shares of the company’s stock valued at $441,000 after purchasing an additional 99 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in shares of PACCAR by 3.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 3,223 shares of the company’s stock worth $315,000 after purchasing an additional 100 shares during the last quarter. Finally, Evanson Asset Management LLC raised its stake in shares of PACCAR by 3.5% in the first quarter. Evanson Asset Management LLC now owns 3,227 shares of the company’s stock worth $400,000 after purchasing an additional 108 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction dated 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 owns 162,782 shares in the company, valued at $16,066,583.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Performance

Shares of PCAR stock traded up $1.01 during trading hours on Wednesday, hitting $93.69. 3,174,742 shares of the company were exchanged, compared to its average volume of 3,680,866. 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 stock has a market capitalization of $49.11 billion, a price-to-earnings ratio of 9.72, a P/E/G ratio of 1.44 and a beta of 0.92. The firm has a fifty day simple moving average of $101.93 and a 200 day simple moving average of $108.37. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.01). The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. PACCAR’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the company posted $2.33 earnings per share. Research analysts predict that PACCAR Inc will post 8.07 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s dividend payout ratio is currently 12.45%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Raymond James began coverage on shares of PACCAR in a report on Friday, June 28th. They issued a “market perform” rating for the company. Truist Financial cut their price target on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, Citigroup dropped their target price on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $112.91.

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.