Davis Selected Advisers Purchases 12 Shares of PACCAR Inc. (NASDAQ:PCAR)

Davis Selected Advisers lifted its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 0.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,144 shares of the company’s stock after buying an additional 12 shares during the period. Davis Selected Advisers’ holdings in PACCAR were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Conning Inc. increased its holdings in PACCAR by 0.4% in the 2nd quarter. Conning Inc. now owns 10,691 shares of the company’s stock valued at $706,000 after purchasing an additional 39 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in PACCAR by 1.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,742 shares of the company’s stock valued at $247,000 after purchasing an additional 46 shares during the last quarter. Atlantic Trust Group LLC increased its holdings in PACCAR by 0.6% in the 2nd quarter. Atlantic Trust Group LLC now owns 12,279 shares of the company’s stock valued at $810,000 after purchasing an additional 68 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in PACCAR by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,098 shares of the company’s stock valued at $1,724,000 after purchasing an additional 69 shares during the last quarter. Finally, Cadence Capital Management LLC boosted its position in PACCAR by 0.8% in the 2nd quarter. Cadence Capital Management LLC now owns 10,087 shares of the company’s stock valued at $666,000 after buying an additional 77 shares during the period. Institutional investors and hedge funds own 62.12% of the company’s stock.

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In other news, insider T. Kyle Quinn sold 2,786 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total value of $189,141.54. Following the completion of the sale, the insider now owns 20,800 shares of the company’s stock, valued at approximately $1,412,112. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.64% of the company’s stock.

Several equities analysts have commented on PCAR shares. Zacks Investment Research cut shares of PACCAR from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. BidaskClub cut shares of PACCAR from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Goldman Sachs Group, Inc. (The) raised shares of PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Thursday, June 15th. Citigroup Inc. lifted their price objective on shares of PACCAR from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Finally, ValuEngine raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $71.74.

Shares of PACCAR Inc. (NASDAQ PCAR) opened at 71.42 on Friday. The stock has a market cap of $25.10 billion, a P/E ratio of 19.12 and a beta of 1.15. PACCAR Inc. has a 12-month low of $53.38 and a 12-month high of $71.50. The company’s 50-day moving average is $66.39 and its 200-day moving average is $66.14.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the firm posted $1.06 EPS. The business’s revenue was up 6.9% on a year-over-year basis. On average, analysts expect that PACCAR Inc. will post $4.00 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Monday, November 13th. PACCAR’s payout ratio is presently 26.74%.

PACCAR Profile

PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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