Bellevue Asset Management LLC Has $331,000 Stock Position in PACCAR Inc. $PCAR

Bellevue Asset Management LLC lifted its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 10.2% in the second quarter, Holdings Channel reports. The institutional investor owned 3,478 shares of the company’s stock after acquiring an additional 322 shares during the period. Bellevue Asset Management LLC’s holdings in PACCAR were worth $331,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of PACCAR by 1.8% in the first quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock worth $6,133,914,000 after purchasing an additional 1,113,520 shares during the period. Wellington Management Group LLP increased its position in shares of PACCAR by 20.1% in the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock worth $1,964,725,000 after purchasing an additional 3,379,165 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of PACCAR by 9.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company’s stock worth $1,144,578,000 after purchasing an additional 987,805 shares during the period. Northern Trust Corp increased its position in shares of PACCAR by 0.5% in the first quarter. Northern Trust Corp now owns 7,239,967 shares of the company’s stock worth $704,956,000 after purchasing an additional 37,609 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of PACCAR by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,104,056 shares of the company’s stock worth $594,277,000 after purchasing an additional 97,197 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

PACCAR stock opened at $96.68 on Wednesday. The business has a 50 day moving average of $98.93 and a 200-day moving average of $95.62. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80. The company has a market capitalization of $50.77 billion, a P/E ratio of 16.55, a P/E/G ratio of 4.00 and a beta of 0.94.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the firm posted $2.13 earnings per share. The firm’s revenue was down 15.7% compared to the same quarter last year. On average, equities research analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, November 12th. PACCAR’s dividend payout ratio is presently 22.60%.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the transaction, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. This trade represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the transaction, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PCAR shares. Citigroup raised their price target on PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. Evercore ISI set a $114.00 price target on PACCAR and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. JPMorgan Chase & Co. raised their price target on PACCAR from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Argus upgraded PACCAR from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Monday, July 28th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of PACCAR in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $107.68.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.