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

Rakuten Investment Management Inc. acquired a new stake in PACCAR Inc. (NASDAQ:PCAR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 126,798 shares of the company’s stock, valued at approximately $15,165,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in PACCAR during the second quarter worth about $4,927,720,000. Wellington Management Group LLP increased its stake in shares of PACCAR by 18.6% during the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock worth $2,516,272,000 after purchasing an additional 3,597,283 shares in the last quarter. State Street Corp raised its position in shares of PACCAR by 0.4% during the 4th quarter. State Street Corp now owns 22,497,197 shares of the company’s stock worth $2,494,269,000 after purchasing an additional 94,869 shares during the last quarter. Geode Capital Management LLC raised its position in shares of PACCAR by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after purchasing an additional 50,622 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in PACCAR in the 2nd quarter valued at approximately $1,130,496,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on PCAR. JPMorgan Chase & Co. increased their target price on PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Citigroup boosted their price target on PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Sanford C. Bernstein restated an “outperform” rating and issued a $148.00 target price on shares of PACCAR in a report on Wednesday, July 29th. Wells Fargo & Company raised their price objective on PACCAR from $125.00 to $157.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Finally, Truist Financial upped their target price on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Two analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $131.70.

PACCAR Stock Down 0.9%

Shares of PCAR opened at $125.34 on Friday. The firm has a market cap of $65.97 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 1.00 and a beta of 0.97. The company’s fifty day moving average is $127.35 and its two-hundred day moving average is $121.93. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $139.24. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49.

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

PACCAR Dividend Announcement

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

Insider Transactions at PACCAR

In other PACCAR news, VP William Lance Walters sold 1,000 shares of the company’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brice J. Poplawski sold 1,970 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer owned 1,391 shares in the company, valued at approximately $184,307.50. This trade represents a 58.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 56,842 shares of company stock valued at $7,565,677. Insiders own 1.99% of the company’s stock.

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.