Dupont Capital Management Corp decreased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,360 shares of the company’s stock after selling 153 shares during the quarter. Dupont Capital Management Corp’s holdings in PACCAR were worth $626,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in PCAR. Capital World Investors raised its holdings in PACCAR by 43.5% during the 1st quarter. Capital World Investors now owns 9,104,922 shares of the company’s stock worth $556,584,000 after purchasing an additional 2,759,826 shares during the last quarter. First Trust Advisors LP increased its stake in PACCAR by 346.4% during the 2nd quarter. First Trust Advisors LP now owns 1,810,093 shares of the company’s stock valued at $135,485,000 after purchasing an additional 1,404,646 shares in the last quarter. Capital International Investors purchased a new position in PACCAR during the 1st quarter worth $57,080,000. Alyeska Investment Group L.P. purchased a new position in PACCAR during the 1st quarter worth $38,946,000. Finally, Advisor Group Holdings Inc. purchased a new position in PACCAR during the 1st quarter worth $3,371,000. Hedge funds and other institutional investors own 61.39% of the company’s stock.
In other PACCAR news, VP Todd R. Hubbard sold 7,416 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $85.90, for a total value of $637,034.40. Following the sale, the vice president now owns 9,430 shares in the company, valued at $810,037. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP C Michael Dozier sold 12,158 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $85.40, for a total transaction of $1,038,293.20. Following the completion of the sale, the senior vice president now owns 9,923 shares in the company, valued at approximately $847,424.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,574 shares of company stock valued at $2,019,488. 2.18% of the stock is owned by insiders.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 21st. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. PACCAR had a return on equity of 16.85% and a net margin of 7.95%. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the company earned $1.78 EPS. PACCAR’s revenue was down 56.9% on a year-over-year basis. Equities analysts forecast that PACCAR Inc will post 3.25 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.50%. This is an increase from PACCAR’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, August 10th. PACCAR’s dividend payout ratio is presently 18.63%.
PCAR has been the topic of a number of research analyst reports. BidaskClub raised shares of PACCAR from a “sell” rating to a “hold” rating in a report on Thursday, July 16th. Piper Sandler lowered PACCAR from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $66.00 to $73.00 in a research note on Tuesday, May 12th. Credit Suisse Group upped their target price on PACCAR from $72.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. ValuEngine raised PACCAR from a “sell” rating to a “hold” rating in a research note on Thursday, June 25th. Finally, Morgan Stanley lifted their price objective on PACCAR from $59.00 to $73.00 and gave the stock an “underweight” rating in a report on Wednesday, July 22nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $85.21.
PACCAR Company Profile
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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