The Manufacturers Life Insurance Company Takes $39.06 Million Position in PACCAR Inc. $PCAR

The Manufacturers Life Insurance Company bought a new stake in PACCAR Inc. (NASDAQ:PCAR) in the second quarter, HoldingsChannel.com reports. The firm bought 325,194 shares of the company’s stock, valued at approximately $39,062,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ares Financial Consulting LLC purchased a new position in shares of PACCAR in the 4th quarter valued at about $27,000. Paladin Partners LLC purchased a new stake in shares of PACCAR during the second quarter worth approximately $27,000. MCF Advisors LLC raised its holdings in PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after acquiring an additional 92 shares in the last quarter. Fiduciary Financial Advisors acquired a new stake in PACCAR in the second quarter valued at approximately $28,000. Finally, Compass Financial Management LLC purchased a new position in PACCAR in the second quarter worth approximately $28,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Up 0.0%

PCAR stock opened at $129.23 on Thursday. The stock has a market cap of $68.02 billion, a P/E ratio of 27.15, a PEG ratio of 1.02 and a beta of 0.97. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $139.24. The company’s 50 day moving average is $127.07 and its two-hundred day moving average is $121.91.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.05 billion. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.37 EPS. Research analysts expect that PACCAR Inc. will post 5.89 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR’s payout ratio is 29.41%.

Insider Activity at PACCAR

In other PACCAR news, VP Paulo Henrique Bolgar sold 2,897 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.90, for a total transaction of $387,908.30. Following the transaction, the vice president owned 3,831 shares of the company’s stock, valued at approximately $512,970.90. This trade represents a 43.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO R Preston Feight sold 50,975 shares of PACCAR stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.07, for a total value of $6,783,243.25. Following the sale, the chief executive officer owned 268,625 shares in the company, valued at $35,745,928.75. This trade represents a 15.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 56,842 shares of company stock worth $7,565,677. Insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the topic of a number of recent analyst reports. Citigroup increased their price objective on shares of PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Wells Fargo & Company lifted their price objective on shares of PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Truist Financial boosted their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Sanford C. Bernstein reissued an “outperform” rating and issued a $148.00 target price on shares of PACCAR in a report on Wednesday, July 29th. Finally, Evercore set a $139.00 price target on PACCAR in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $131.70.

PACCAR Profile

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.