Sullivan Bruyette Speros & Blaney LLC bought a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 44,618 shares of the company’s stock, valued at approximately $2,947,000. PACCAR comprises about 0.3% of Sullivan Bruyette Speros & Blaney LLC’s portfolio, making the stock its 22nd largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its position in PACCAR by 6.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock worth $107,000 after buying an additional 95 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in shares of PACCAR by 33.3% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,600 shares of the company’s stock worth $108,000 after buying an additional 400 shares during the last quarter. IFP Advisors Inc boosted its position in shares of PACCAR by 91.1% in the second quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock worth $123,000 after buying an additional 890 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of PACCAR by 29.9% in the second quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock worth $143,000 after buying an additional 500 shares during the last quarter. Finally, Perkins Coie Trust Co boosted its position in shares of PACCAR by 102.8% in the second quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock worth $151,000 after buying an additional 1,157 shares during the last quarter. Institutional investors own 62.69% of the company’s stock.

Shares of PACCAR Inc. (NASDAQ PCAR) opened at 65.16 on Wednesday. The company has a 50 day moving average price of $66.90 and a 200 day moving average price of $66.27. The company has a market cap of $22.90 billion, a price-to-earnings ratio of 17.44 and a beta of 1.14. PACCAR Inc. has a one year low of $53.38 and a one year high of $70.32.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the prior year, the company earned $1.06 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. Equities analysts predict that PACCAR Inc. will post $3.99 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Wednesday, August 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.53%. PACCAR’s payout ratio is 26.74%.

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PCAR has been the subject of a number of recent research reports. Zacks Investment Research upgraded PACCAR from a “sell” rating to a “buy” rating and set a $77.00 price objective for the company in a research note on Wednesday, July 12th. UBS AG set a $75.00 price objective on PACCAR and gave the company a “buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC set a $77.00 price objective on PACCAR and gave the company a “buy” rating in a research note on Sunday, May 28th. Stifel Nicolaus reiterated a “buy” rating and set a $72.00 price objective (up previously from $64.00) on shares of PACCAR in a research note on Wednesday, July 26th. Finally, Goldman Sachs Group, Inc. (The) upgraded PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $71.72.

In other news, insider T. Kyle Quinn sold 2,786 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total value of $189,141.54. Following the completion of the sale, the insider now directly owns 20,800 shares of the company’s stock, valued at $1,412,112. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.64% of the stock is currently owned by corporate insiders.

PACCAR Company Profile

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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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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