PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd raised its position in shares of PACCAR Inc (NASDAQ:PCAR) by 1,499.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,326 shares of the company’s stock after acquiring an additional 17,180 shares during the quarter. Plato Investment Management Ltd’s holdings in PACCAR were worth $2,270,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Fisher Asset Management LLC grew its position in PACCAR by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock worth $480,104,000 after acquiring an additional 89,984 shares during the period. Norges Bank purchased a new position in PACCAR in the fourth quarter worth approximately $448,288,000. Capital International Investors grew its position in PACCAR by 44.8% in the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after acquiring an additional 1,225,468 shares during the period. Charles Schwab Investment Management Inc. grew its position in PACCAR by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,967,614 shares of the company’s stock worth $289,788,000 after acquiring an additional 54,273 shares during the period. Finally, First Trust Advisors LP grew its position in PACCAR by 0.9% in the fourth quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock worth $268,551,000 after acquiring an additional 23,394 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

PCAR traded down $2.36 during trading on Thursday, reaching $96.30. The company’s stock had a trading volume of 4,127,510 shares, compared to its average volume of 2,647,454. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50. The company’s fifty day moving average price is $104.82 and its 200-day moving average price is $108.69. The company has a market capitalization of $50.48 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 1.50 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.43 and a current ratio of 1.81.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same quarter in the previous year, the business posted $2.33 earnings per share. PACCAR’s revenue was down 2.1% on a year-over-year basis. On average, equities analysts forecast that PACCAR Inc will post 8.11 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.25%. PACCAR’s payout ratio is 12.45%.

Insider Activity

In other news, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the sale, the chief executive officer now directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the sale, the chief executive officer now directly owns 154,430 shares in the company, valued at approximately $16,397,377.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the transaction, the vice president now owns 1,468 shares of the company’s stock, valued at $154,301.48. The disclosure for this sale can be found here. In the last three months, insiders sold 72,874 shares of company stock worth $7,526,457. Company insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PCAR. Deutsche Bank Aktiengesellschaft decreased their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. decreased their price target on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Citigroup began coverage on PACCAR in a research note on Wednesday, June 26th. They set a “neutral” rating and a $115.00 price target on the stock. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group upped their price target on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $114.27.

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.