Maloon Powers Pitre Higgins & Dennehy LLC Takes $567,000 Position in PACCAR Inc. $PCAR

Maloon Powers Pitre Higgins & Dennehy LLC purchased a new position in PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, HoldingsChannel reports. The fund purchased 4,721 shares of the company’s stock, valued at approximately $567,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in PACCAR during the 2nd quarter valued at about $4,927,720,000. Wellington Management Group LLP lifted its stake in PACCAR by 18.6% in the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock worth $2,516,272,000 after purchasing an additional 3,597,283 shares in the last quarter. State Street Corp lifted its stake in PACCAR by 0.4% in the 4th quarter. State Street Corp now owns 22,497,197 shares of the company’s stock worth $2,494,269,000 after purchasing an additional 94,869 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of PACCAR by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after purchasing an additional 50,622 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of PACCAR during the 2nd quarter worth approximately $1,130,496,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PACCAR

In other news, VP William Lance Walters sold 1,000 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.50, for a total transaction of $133,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R Feight sold 50,975 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.07, for a total value of $6,783,243.25. Following the transaction, the chief executive officer owned 268,625 shares of the company’s stock, valued at approximately $35,745,928.75. This represents a 15.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 56,842 shares of company stock worth $7,565,677 over the last quarter. Company insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the subject of a number of analyst reports. Citigroup upped their price target on PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Sanford C. Bernstein reissued an “outperform” rating and set a $148.00 price objective on shares of PACCAR in a research note on Wednesday, July 29th. Wells Fargo & Company boosted their price objective on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Morgan Stanley set a $125.00 target price on PACCAR and gave the company an “equal weight” rating in a report on Friday. Finally, Evercore set a $139.00 target price on PACCAR in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $132.30.

PACCAR Trading Up 0.2%

Shares of PCAR stock opened at $124.70 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. The firm has a market cap of $65.64 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.43 and a beta of 0.96. The company has a 50-day moving average of $127.78 and a two-hundred day moving average of $121.80. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $139.24.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same period in the previous year, the firm earned $1.37 EPS. The business’s revenue was up .5% on a year-over-year basis. On average, analysts predict that PACCAR Inc. will post 5.89 EPS for the current year.

PACCAR Announces Dividend

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

About PACCAR

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.