Peak Asset Management LLC Takes Position in PACCAR Inc. $PCAR

Peak Asset Management LLC purchased a new position in shares of PACCAR Inc. (NASDAQ:PCAR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 146,560 shares of the company’s stock, valued at approximately $17,605,000. PACCAR makes up approximately 2.6% of Peak Asset Management LLC’s holdings, making the stock its 13th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ares Financial Consulting LLC acquired a new stake in PACCAR in the fourth quarter valued at $27,000. Paladin Partners LLC acquired a new position in PACCAR during the 2nd quarter worth $27,000. MCF Advisors LLC increased its position in shares of PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after purchasing an additional 92 shares during the last quarter. Fiduciary Financial Advisors bought a new stake in shares of PACCAR in the 2nd quarter worth about $28,000. Finally, Compass Financial Management LLC acquired a new stake in shares of PACCAR in the 2nd quarter valued at about $28,000. Institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley set a $119.00 price target on PACCAR in a research note on Wednesday, July 29th. Citigroup upped their price objective on PACCAR from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Wells Fargo & Company increased their target price on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Evercore set a $139.00 target price on PACCAR in a research report on Monday, May 11th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $148.00 price target on shares of PACCAR in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, PACCAR has an average rating of “Hold” and an average price target of $131.70.

PACCAR Trading Down 0.8%

NASDAQ PCAR opened at $129.94 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.90 and a current ratio of 3.12. PACCAR Inc. has a one year low of $92.25 and a one year high of $139.24. The company has a 50-day simple moving average of $126.66 and a 200-day simple moving average of $121.89. The firm has a market capitalization of $68.40 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 1.03 and a beta of 0.97.

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

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. PACCAR’s dividend payout ratio is 29.41%.

Insider Buying and Selling

In other news, VP William Lance Walters sold 1,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.50, for a total transaction of $133,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brice J. Poplawski sold 1,970 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $132.50, for a total value of $261,025.00. Following the completion of the sale, the chief financial officer directly owned 1,391 shares in the company, valued at approximately $184,307.50. This trade represents a 58.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 56,842 shares of company stock valued at $7,565,677 over the last three months. 1.99% of the stock is owned by company insiders.

PACCAR Company Profile

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.