Linden Thomas Advisory Services LLC Boosts Stock Position in PACCAR Inc. $PCAR

Linden Thomas Advisory Services LLC boosted its holdings in PACCAR Inc. (NASDAQ:PCAR) by 52.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,209 shares of the company’s stock after purchasing an additional 3,865 shares during the period. Linden Thomas Advisory Services LLC’s holdings in PACCAR were worth $1,066,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FORA Capital LLC purchased a new position in shares of PACCAR during the 1st quarter valued at $597,000. Cambridge Investment Research Advisors Inc. lifted its holdings in PACCAR by 62.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company’s stock valued at $3,533,000 after purchasing an additional 13,904 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in PACCAR by 51.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company’s stock valued at $1,262,000 after purchasing an additional 4,429 shares during the last quarter. Stack Financial Management Inc purchased a new stake in PACCAR during the first quarter valued at about $20,585,000. Finally, Assenagon Asset Management S.A. lifted its holdings in PACCAR by 46.0% during the second quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock valued at $26,702,000 after purchasing an additional 88,551 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PCAR. JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $103.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Wall Street Zen downgraded shares of PACCAR from a “hold” rating to a “sell” rating in a report on Saturday. Jefferies Financial Group reaffirmed a “hold” rating and set a $90.00 price objective on shares of PACCAR in a report on Tuesday, October 21st. Evercore ISI set a $114.00 price objective on PACCAR and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Finally, UBS Group set a $103.00 price objective on PACCAR and gave the stock a “neutral” rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $106.59.

PACCAR Stock Performance

Shares of PCAR opened at $100.13 on Monday. The stock’s 50-day simple moving average is $98.52 and its 200 day simple moving average is $95.79. The stock has a market capitalization of $52.58 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 4.18 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 1.82. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.PACCAR’s revenue was down 20.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.85 earnings per share. Research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 12th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, November 12th. PACCAR’s dividend payout ratio is currently 25.83%.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the company’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the transaction, the chief executive officer directly owned 223,190 shares in the company, valued at $22,211,868.80. This represents a 15.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.02% of the stock is owned by corporate insiders.

PACCAR 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.