Dimensional Fund Advisors LP Purchases 11,814 Shares of PACCAR Inc. (PCAR)
Dimensional Fund Advisors LP increased its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,062,819 shares of the company’s stock after buying an additional 11,814 shares during the quarter. Dimensional Fund Advisors LP owned 0.59% of PACCAR worth $149,225,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Strs Ohio boosted its holdings in PACCAR by 6.3% during the second quarter. Strs Ohio now owns 8,955 shares of the company’s stock valued at $591,000 after purchasing an additional 534 shares in the last quarter. Bessemer Group Inc. boosted its holdings in PACCAR by 6.7% during the second quarter. Bessemer Group Inc. now owns 7,530 shares of the company’s stock valued at $497,000 after purchasing an additional 471 shares in the last quarter. IFP Advisors Inc boosted its holdings in PACCAR by 91.1% during the second quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock valued at $123,000 after purchasing an additional 890 shares in the last quarter. Global X Management Co. LLC boosted its holdings in PACCAR by 11.3% during the second quarter. Global X Management Co. LLC now owns 3,601 shares of the company’s stock valued at $238,000 after purchasing an additional 366 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in PACCAR by 5.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,237,044 shares of the company’s stock valued at $81,695,000 after purchasing an additional 66,649 shares in the last quarter. 62.36% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on PCAR. Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Tuesday, September 26th. Citigroup lifted their price objective on PACCAR from $78.00 to $81.00 and gave the company a “buy” rating in a report on Friday, October 13th. BidaskClub raised PACCAR from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. ValuEngine downgraded PACCAR from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 price objective on shares of PACCAR in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $75.15.
In related news, VP Alma Lily Ley sold 4,024 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $71.00, for a total value of $285,704.00. Following the completion of the transaction, the vice president now owns 24,319 shares in the company, valued at approximately $1,726,649. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark C. Pigott sold 98,956 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $71.37, for a total transaction of $7,062,489.72. Following the completion of the transaction, the insider now owns 2,985,401 shares of the company’s stock, valued at approximately $213,068,069.37. The disclosure for this sale can be found here. Insiders sold a total of 106,598 shares of company stock valued at $7,597,908 in the last 90 days. 2.64% of the stock is currently owned by corporate insiders.
PACCAR Inc. (PCAR) opened at $69.22 on Friday. The company has a quick ratio of 2.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.75. PACCAR Inc. has a 1 year low of $61.93 and a 1 year high of $75.68. The firm has a market cap of $24,647.88, a P/E ratio of 17.97, a P/E/G ratio of 1.68 and a beta of 1.22.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.06. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the previous year, the company posted $0.98 EPS. PACCAR’s revenue was up 19.7% on a year-over-year basis. analysts expect that PACCAR Inc. will post 4.18 earnings per share for the current fiscal year.
The business also recently disclosed a special dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 14th will be given a $1.20 dividend. This represents a yield of 1.4%. The ex-dividend date is Wednesday, December 13th. PACCAR’s dividend payout ratio (DPR) is presently 25.64%.
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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