Ameriprise Financial Inc. Has $21.84 Million Position in PACCAR Inc. (PCAR)
Ameriprise Financial Inc. boosted its position in PACCAR Inc. (NASDAQ:PCAR) by 10.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 330,679 shares of the company’s stock after acquiring an additional 31,131 shares during the quarter. Ameriprise Financial Inc. owned 0.09% of PACCAR worth $21,841,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of PCAR. BlackRock Inc. raised its holdings in PACCAR by 2,119.4% in the first quarter. BlackRock Inc. now owns 23,936,276 shares of the company’s stock valued at $1,608,519,000 after acquiring an additional 22,857,778 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of PACCAR by 381.5% during the second quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock worth $169,932,000 after acquiring an additional 2,038,761 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of PACCAR by 59.4% during the second quarter. Victory Capital Management Inc. now owns 2,660,654 shares of the company’s stock worth $175,710,000 after acquiring an additional 991,171 shares during the last quarter. FMR LLC grew its position in shares of PACCAR by 20.7% during the first quarter. FMR LLC now owns 4,832,949 shares of the company’s stock worth $324,775,000 after acquiring an additional 829,031 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of PACCAR by 3.3% during the first quarter. Vanguard Group Inc. now owns 23,390,459 shares of the company’s stock worth $1,571,839,000 after acquiring an additional 754,689 shares during the last quarter. 62.12% of the stock is currently owned by hedge funds and other institutional investors.
PACCAR Inc. (NASDAQ:PCAR) opened at 72.34 on Friday. The firm has a market cap of $25.42 billion, a P/E ratio of 19.36 and a beta of 1.15. PACCAR Inc. has a 52 week low of $53.38 and a 52 week high of $73.01. The company has a 50-day moving average of $66.39 and a 200 day moving average of $66.14.
PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.99 by $0.07. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the business posted $1.06 earnings per share. PACCAR’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts predict that PACCAR Inc. will post $4.00 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Monday, November 13th. PACCAR’s dividend payout ratio is 26.74%.
TRADEMARK VIOLATION WARNING: “Ameriprise Financial Inc. Has $21.84 Million Position in PACCAR Inc. (PCAR)” was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this report on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The correct version of this report can be accessed at https://www.thecerbatgem.com/2017/10/01/ameriprise-financial-inc-has-21-84-million-position-in-paccar-inc-pcar.html.
In other news, insider T. Kyle Quinn sold 2,786 shares of the company’s stock in a transaction on 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 $1,412,112. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.64% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Tuesday, September 26th. ValuEngine upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Stifel Nicolaus reissued a “hold” rating and issued a $72.00 target price on shares of PACCAR in a report on Tuesday, September 5th. Buckingham Research started coverage on PACCAR in a report on Tuesday, September 5th. They issued a “neutral” rating and a $65.00 target price for the company. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of PACCAR in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $72.44.
PACCAR Company Profile
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.
Receive News & Stock Ratings for PACCAR Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR Inc. and related stocks with our FREE daily email newsletter.