PACCAR Inc (NASDAQ:PCAR) Shares Bought by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. boosted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 1,113.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,209 shares of the company’s stock after purchasing an additional 2,027 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in PACCAR were worth $227,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in shares of PACCAR by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company’s stock valued at $557,572,000 after buying an additional 171,317 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of PACCAR by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock valued at $479,466,000 after purchasing an additional 83,444 shares during the period. Legal & General Group Plc grew its position in shares of PACCAR by 5.9% in the second quarter. Legal & General Group Plc now owns 4,329,525 shares of the company’s stock valued at $445,681,000 after purchasing an additional 242,435 shares during the period. Capital International Investors increased its stake in shares of PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after purchasing an additional 1,225,468 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of PACCAR by 1.5% during the 2nd quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock worth $331,403,000 after purchasing an additional 48,784 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Trading Down 0.1 %

Shares of PCAR opened at $97.92 on Thursday. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $95.78 and a 200 day moving average price of $105.20. PACCAR Inc has a 12-month low of $80.94 and a 12-month high of $125.50. The firm has a market capitalization of $51.33 billion, a P/E ratio of 10.16, a P/E/G ratio of 1.52 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same quarter in the prior year, the business earned $2.33 EPS. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. Sell-side analysts forecast that PACCAR Inc will post 8.08 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.02% of the company’s stock.

Analyst Ratings Changes

PCAR has been the subject of several research reports. Deutsche Bank Aktiengesellschaft cut their price objective on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. decreased their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Citigroup dropped their target price on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Finally, Raymond James began coverage on shares of PACCAR in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $112.73.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.