Independent Financial Group LLC Invests $447,000 in PACCAR Inc. $PCAR

Independent Financial Group LLC bought a new stake in PACCAR Inc. (NASDAQ:PCAR) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,871 shares of the company’s stock, valued at approximately $447,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after acquiring an additional 290 shares in the last quarter. Focus Partners Wealth raised its stake in shares of PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after purchasing an additional 1,812 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of PACCAR by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock worth $22,886,000 after purchasing an additional 5,327 shares in the last quarter. Ieq Capital LLC boosted its holdings in shares of PACCAR by 11.5% in the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock valued at $3,556,000 after buying an additional 3,858 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of PACCAR in the second quarter valued at $81,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Trading Down 0.3%

Shares of NASDAQ:PCAR opened at $130.75 on Friday. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $133.49. The business has a 50 day moving average of $118.56 and a 200-day moving average of $120.16. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The stock has a market cap of $68.81 billion, a PE ratio of 27.82, a P/E/G ratio of 1.20 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. The business had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the firm posted $1.46 EPS. As a group, equities research analysts forecast that PACCAR Inc. will post 5.66 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 annualized dividend and a yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is presently 29.79%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. BNP Paribas Exane started coverage on shares of PACCAR in a research note on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on shares of PACCAR from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Morgan Stanley raised their target price on shares of PACCAR from $109.00 to $113.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Finally, Evercore set a $139.00 price target on PACCAR in a research report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus price target of $124.18.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.