Capital Wealth Planning LLC Acquires 440 Shares of PACCAR Inc (NASDAQ:PCAR)

Capital Wealth Planning LLC grew its position in shares of PACCAR Inc (NASDAQ:PCAR) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 49,510 shares of the company’s stock after purchasing an additional 440 shares during the quarter. Capital Wealth Planning LLC’s holdings in PACCAR were worth $5,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PCAR. State Board of Administration of Florida Retirement System lifted its holdings in PACCAR by 4.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock worth $75,689,000 after purchasing an additional 27,963 shares in the last quarter. BDF Gestion purchased a new stake in PACCAR during the 2nd quarter worth about $2,862,000. California State Teachers Retirement System raised its holdings in shares of PACCAR by 1.2% in the 4th quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock valued at $80,430,000 after acquiring an additional 9,978 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of PACCAR by 15.9% in the 1st quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock valued at $6,944,000 after acquiring an additional 7,678 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of PACCAR by 18.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock valued at $82,590,000 after acquiring an additional 105,109 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on PCAR shares. Citigroup lowered their price target on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Raymond James began coverage on PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Evercore ISI reduced their price objective on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. JPMorgan Chase & Co. reduced their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus target price of $112.73.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the transaction, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.02% of the stock is owned by company insiders.

PACCAR Trading Up 0.1 %

PCAR opened at $95.12 on Monday. The stock has a market cap of $49.86 billion, a PE ratio of 9.87, a PEG ratio of 1.46 and a beta of 0.91. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average of $97.40 and a 200-day moving average of $106.63. PACCAR Inc has a 52 week low of $80.94 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.33 EPS. Equities research analysts predict that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is 12.45%.

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.