Forum Financial Management LP Raises Holdings in PACCAR Inc (NASDAQ:PCAR)

Forum Financial Management LP lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 69.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,363 shares of the company’s stock after buying an additional 4,244 shares during the period. Forum Financial Management LP’s holdings in PACCAR were worth $1,067,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Fisher Asset Management LLC grew its holdings in PACCAR by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock valued at $480,104,000 after buying an additional 89,984 shares during the last quarter. Norges Bank acquired a new stake in PACCAR during the 4th quarter valued at $448,288,000. Capital International Investors grew its holdings in PACCAR by 44.8% during the 1st quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock valued at $490,967,000 after buying an additional 1,225,468 shares during the last quarter. Principal Financial Group Inc. grew its holdings in PACCAR by 1.5% during the 2nd quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock valued at $331,403,000 after buying an additional 48,784 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in PACCAR by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,967,614 shares of the company’s stock valued at $289,788,000 after buying an additional 54,273 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Trading Up 1.6 %

Shares of PCAR opened at $96.18 on Friday. The stock’s fifty day simple moving average is $99.29 and its 200 day simple moving average is $107.73. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. The firm has a market capitalization of $50.41 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 1.47 and a beta of 0.92.

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

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Analyst Ratings Changes

A number of brokerages have commented on PCAR. JPMorgan Chase & Co. lowered their target price on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Evercore ISI reduced their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Citigroup reduced their price target on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Finally, StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, PACCAR currently has an average rating of “Hold” and an average price target of $112.73.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction dated 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 directly owns 162,782 shares in the company, valued at $16,066,583.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.02% of the stock is currently owned by corporate insiders.

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.