Mather Group LLC. Purchases 1,564 Shares of PACCAR Inc (NASDAQ:PCAR)

Mather Group LLC. grew its position in shares of PACCAR Inc (NASDAQ:PCAR) by 47.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,891 shares of the company’s stock after buying an additional 1,564 shares during the quarter. Mather Group LLC.’s holdings in PACCAR were worth $503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fisher Asset Management LLC raised its stake in shares of PACCAR by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock valued at $480,104,000 after acquiring an additional 89,984 shares during the last quarter. Norges Bank bought a new position in shares of PACCAR during the fourth quarter valued at about $448,288,000. Capital International Investors raised its stake in shares of PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after acquiring an additional 1,225,468 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of PACCAR by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,967,614 shares of the company’s stock valued at $289,788,000 after acquiring an additional 54,273 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of PACCAR by 0.9% during the fourth quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock valued at $268,551,000 after acquiring an additional 23,394 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Activity at PACCAR

In related news, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. The disclosure for this sale can be found here. 2.02% of the stock is owned by insiders.

PACCAR Stock Up 0.4 %

PCAR traded up $0.35 during midday trading on Tuesday, reaching $92.28. The company’s stock had a trading volume of 3,282,006 shares, compared to its average volume of 2,673,631. The firm has a market capitalization of $48.37 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 1.49 and a beta of 0.92. The company has a current ratio of 2.78, a quick ratio of 1.43 and a debt-to-equity ratio of 0.52. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50. The stock’s 50-day moving average is $103.92 and its 200-day moving average is $108.79.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. PACCAR’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.33 EPS. As a group, research analysts expect that PACCAR Inc will post 8.11 EPS for the current year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Thursday, August 15th. PACCAR’s dividend payout ratio (DPR) is currently 12.45%.

Analyst Ratings Changes

Several brokerages recently issued reports on PCAR. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. reduced their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. The Goldman Sachs Group boosted their price target on shares of PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, Raymond James began coverage on shares of PACCAR in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $114.27.

About PACCAR

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.