Ethic Inc. Has $12.44 Million Stock Position in PACCAR Inc. $PCAR

Ethic Inc. raised its stake in PACCAR Inc. (NASDAQ:PCAR) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 113,613 shares of the company’s stock after acquiring an additional 5,458 shares during the quarter. Ethic Inc.’s holdings in PACCAR were worth $12,442,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after purchasing an additional 290 shares during the period. Focus Partners Wealth increased its position in PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after buying an additional 1,812 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of PACCAR by 2.3% during the second quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock worth $22,886,000 after buying an additional 5,327 shares in the last quarter. Ieq Capital LLC lifted its holdings in shares of PACCAR by 11.5% during the second quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after buying an additional 3,858 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of PACCAR in the second quarter valued at about $81,000. Institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PCAR. Morgan Stanley set a $109.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Weiss Ratings raised shares of PACCAR from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. BNP Paribas Exane initiated coverage on shares of PACCAR in a report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, PACCAR has an average rating of “Hold” and a consensus target price of $119.73.

Insider Buying and Selling

In other PACCAR news, CFO Brice J. Poplawski sold 2,200 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $130.41, for a total value of $286,902.00. Following the completion of the transaction, the chief financial officer directly owned 903 shares in the company, valued at approximately $117,760.23. This trade represents a 70.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.99% of the company’s stock.

PACCAR Stock Performance

Shares of PACCAR stock opened at $114.31 on Friday. PACCAR Inc. has a fifty-two week low of $90.05 and a fifty-two week high of $131.88. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The firm has a market capitalization of $60.16 billion, a P/E ratio of 24.32, a P/E/G ratio of 1.06 and a beta of 1.02. The company’s 50 day moving average price is $120.18 and its two-hundred day moving average price is $114.92.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the prior year, the business earned $1.46 earnings per share. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. On average, equities analysts forecast that PACCAR Inc. will post 5.6 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, May 13th. This is a boost from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s payout ratio is currently 28.09%.

PACCAR Company Profile

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.