Garde Capital Inc. Purchases Shares of 12,400 PACCAR Inc. (PCAR)
Garde Capital Inc. purchased a new position in PACCAR Inc. (NASDAQ:PCAR) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,400 shares of the company’s stock, valued at approximately $897,000.
Other large investors also recently made changes to their positions in the company. Koch Industries Inc. acquired a new stake in shares of PACCAR in the second quarter worth about $213,000. Principal Financial Group Inc. lifted its position in shares of PACCAR by 381.5% in the second quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock worth $169,932,000 after buying an additional 2,038,761 shares during the last quarter. Delta Lloyd Asset Management N.V. acquired a new stake in shares of PACCAR in the second quarter worth about $3,038,000. BlueMountain Capital Management LLC acquired a new stake in shares of PACCAR in the second quarter worth about $2,771,000. Finally, Brighton Jones LLC acquired a new stake in shares of PACCAR in the second quarter worth about $3,338,000. 62.36% of the stock is owned by institutional investors.
In related news, VP Alma Lily Ley sold 4,024 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $71.00, for a total transaction of $285,704.00. Following the transaction, the vice president now directly owns 24,319 shares in the company, valued at $1,726,649. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark C. Pigott sold 98,956 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $71.37, for a total value of $7,062,489.72. Following the transaction, the insider now owns 2,985,401 shares in the company, valued at $213,068,069.37. The disclosure for this sale can be found here. Insiders have sold 106,598 shares of company stock worth $7,597,908 over the last 90 days. Corporate insiders own 2.64% of the company’s stock.
PACCAR Inc. (PCAR) opened at $70.10 on Thursday. PACCAR Inc. has a 12-month low of $61.93 and a 12-month high of $75.68. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.40 and a current ratio of 2.56. The firm has a market capitalization of $25,224.52, a PE ratio of 18.40, a P/E/G ratio of 1.72 and a beta of 1.22.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.06. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. analysts forecast that PACCAR Inc. will post 4.18 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 14th will be paid a dividend of $1.20 per share. The ex-dividend date is Wednesday, December 13th. This represents a yield of 1.4%. PACCAR’s dividend payout ratio is 25.64%.
A number of analysts have weighed in on PCAR shares. Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research report on Tuesday, September 5th. Buckingham Research started coverage on PACCAR in a research report on Tuesday, September 5th. They issued a “neutral” rating and a $65.00 price target for the company. ValuEngine raised PACCAR from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Royal Bank of Canada reaffirmed a “buy” rating on shares of PACCAR in a research report on Friday, September 1st. Finally, Deutsche Bank reissued a “hold” rating and set a $78.00 price objective (up previously from $75.00) on shares of PACCAR in a research report on Monday, October 9th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $75.15.
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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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