Heritage Investors Management Corp Acquires 307 Shares of PACCAR Inc. $PCAR

Heritage Investors Management Corp lifted its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 169,159 shares of the company’s stock after purchasing an additional 307 shares during the period. Heritage Investors Management Corp’s holdings in PACCAR were worth $16,080,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FORA Capital LLC bought a new position in shares of PACCAR during the 1st quarter valued at $597,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of PACCAR by 51.9% during the 1st 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 bought a new position in shares of PACCAR during the 1st quarter valued at $20,585,000. Assenagon Asset Management S.A. grew its holdings in shares of PACCAR by 46.0% during the 2nd 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. Finally, DAVENPORT & Co LLC bought a new stake in PACCAR in the 1st quarter worth $246,000. Institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In related news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the completion of the transaction, the chief financial officer directly owned 468 shares of the company’s stock, valued at $47,338.20. This trade represents a 87.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. UBS Group set a $103.00 price target on shares of PACCAR and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Raymond James Financial reissued a “market perform” rating on shares of PACCAR in a report on Tuesday, October 21st. Finally, Zacks Research lowered shares of PACCAR from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $106.59.

PACCAR Trading Down 1.0%

Shares of PCAR opened at $98.21 on Thursday. The firm’s 50-day moving average price is $98.56 and its 200-day moving average price is $95.96. The firm has a market capitalization of $51.57 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 4.15 and a beta of 0.94. The company has a current ratio of 1.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. PACCAR Inc. has a 1-year low of $84.65 and a 1-year 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 company had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The company’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 EPS. Sell-side analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 12th. PACCAR’s dividend payout ratio (DPR) is 25.83%.

PACCAR Company 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.