126,798 Shares in PACCAR Inc. $PCAR Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. acquired a new stake in PACCAR Inc. (NASDAQ:PCAR) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 126,798 shares of the company’s stock, valued at approximately $15,165,000.

Several other institutional investors and hedge funds also recently modified their holdings of PCAR. Compass Financial Management LLC acquired a new stake in shares of PACCAR in the second quarter valued at about $28,000. Paladin Partners LLC acquired a new position in PACCAR during the 2nd quarter worth approximately $27,000. Fiduciary Financial Advisors purchased a new position in PACCAR in the 2nd quarter worth approximately $28,000. Steph & Co. purchased a new position in PACCAR in the 1st quarter worth approximately $29,000. Finally, MCF Advisors LLC grew its position in PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after acquiring an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, VP Paulo Henrique Bolgar sold 2,897 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.90, for a total transaction of $387,908.30. Following the sale, the vice president directly owned 3,831 shares in the company, valued at approximately $512,970.90. This represents a 43.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William Lance Walters sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 56,842 shares of company stock worth $7,565,677. Insiders own 1.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PCAR. Citigroup boosted their target price on shares of PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Wells Fargo & Company lifted their price target on shares of PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Morgan Stanley set a $119.00 price target on PACCAR in a research note on Wednesday, July 29th. JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, Evercore set a $139.00 target price on PACCAR in a report on Monday, May 11th. Two 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, the stock presently has an average rating of “Hold” and a consensus price target of $131.70.

PACCAR Stock Down 0.9%

Shares of NASDAQ:PCAR opened at $125.34 on Friday. The stock has a market capitalization of $65.97 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 1.00 and a beta of 0.97. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $139.24. The company’s fifty day moving average is $127.35 and its two-hundred day moving average is $121.93. 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 (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, beating 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 business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period in the previous year, the business posted $1.37 EPS. The company’s quarterly revenue was up .5% on a year-over-year basis. Equities analysts anticipate that PACCAR Inc. will post 5.89 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is currently 29.41%.

About PACCAR

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.