GAM Holding AG Has $2.94 Million Position in PACCAR Inc. (PCAR)
GAM Holding AG increased its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 8.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 44,454 shares of the company’s stock after buying an additional 3,315 shares during the period. GAM Holding AG’s holdings in PACCAR were worth $2,936,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. boosted its position in PACCAR by 6.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock valued at $107,000 after buying an additional 95 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in PACCAR by 33.3% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,600 shares of the company’s stock valued at $108,000 after buying an additional 400 shares during the period. IFP Advisors Inc boosted its position in PACCAR by 91.1% in the second quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock valued at $123,000 after buying an additional 890 shares during the period. State of Alaska Department of Revenue boosted its position in PACCAR by 29.9% in the second quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock valued at $143,000 after buying an additional 500 shares during the period. Finally, Perkins Coie Trust Co boosted its position in PACCAR by 102.8% in the second quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock valued at $151,000 after buying an additional 1,157 shares during the period. Hedge funds and other institutional investors own 62.69% of the company’s stock.
PACCAR Inc. (NASDAQ PCAR) opened at 64.01 on Monday. The company has a market cap of $22.49 billion, a P/E ratio of 17.13 and a beta of 1.14. PACCAR Inc. has a 12-month low of $53.38 and a 12-month high of $70.32. The firm has a 50-day moving average price of $66.90 and a 200-day moving average price of $66.27.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.07. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. PACCAR’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $1.06 earnings per share. On average, equities research analysts forecast that PACCAR Inc. will post $3.99 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 16th will be issued a $0.25 dividend. The ex-dividend date is Monday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.56%. PACCAR’s dividend payout ratio (DPR) is presently 26.74%.
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PCAR has been the topic of a number of recent research reports. BidaskClub cut shares of PACCAR from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Zacks Investment Research cut shares of PACCAR from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 price target on the stock in a research report on Thursday, June 15th. Bank of America Corporation cut shares of PACCAR from a “buy” rating to a “neutral” rating and reduced their price target for the company from $78.00 to $70.00 in a research report on Thursday, May 11th. Finally, Citigroup Inc. increased their price target on shares of PACCAR from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $71.67.
In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of PACCAR stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total transaction of $189,141.54. Following the completion of the sale, the insider now directly owns 20,800 shares of the company’s stock, valued at approximately $1,412,112. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.64% of the company’s stock.
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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