293,238 Shares in PACCAR Inc. $PCAR Acquired by Man Group plc

Man Group plc purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the second quarter, HoldingsChannel.com reports. The fund purchased 293,238 shares of the company’s stock, valued at approximately $35,224,000.

Other hedge funds also recently made changes to their positions in the company. Jupiter Topco LLC purchased a new stake in shares of PACCAR during the 2nd quarter valued at $8,042,000. Hsbc Holdings PLC purchased a new position in shares of PACCAR in the 2nd quarter worth $236,428,000. EFG International AG purchased a new position in shares of PACCAR in the 2nd quarter worth $30,000. Ancora Advisors LLC acquired a new position in PACCAR in the second quarter valued at $16,286,000. Finally, Canada Pension Plan Investment Board acquired a new position in PACCAR in the second quarter valued at $91,023,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the subject of several research analyst reports. Morgan Stanley set a $119.00 price target on PACCAR in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PACCAR in a research note on Tuesday, August 18th. Citigroup boosted their target price on PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Truist Financial increased their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Finally, Evercore set a $139.00 price target on shares of PACCAR in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus target price of $131.70.

Insider Buying and Selling

In other PACCAR news, VP Paulo Henrique Bolgar sold 2,897 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.90, for a total value of $387,908.30. Following the completion of the transaction, the vice president owned 3,831 shares in the company, valued at $512,970.90. This represents a 43.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William Lance Walters sold 1,000 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.50, for a total transaction of $133,500.00. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 56,842 shares of company stock valued at $7,565,677. Corporate insiders own 1.99% of the company’s stock.

PACCAR Stock Up 0.0%

Shares of PACCAR stock opened at $129.23 on Thursday. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $139.24. The stock has a market cap of $68.02 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth 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. The company has a fifty day moving average price of $127.07 and a 200 day moving average price of $121.91.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.36 by $0.07. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The firm’s revenue was up .5% compared to the same quarter last year. During the same period last year, the company posted $1.37 earnings per share. Equities research analysts forecast that PACCAR Inc. will post 5.89 earnings per share for the current fiscal year.

PACCAR Announces Dividend

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

PACCAR Company 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.