Gallacher Capital Management LLC Acquires 1,075 Shares of PACCAR Inc (NASDAQ:PCAR)

Gallacher Capital Management LLC increased its stake in PACCAR Inc (NASDAQ:PCAR) by 32.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,397 shares of the company’s stock after purchasing an additional 1,075 shares during the quarter. Gallacher Capital Management LLC’s holdings in PACCAR were worth $453,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PCAR. Fisher Asset Management LLC boosted its stake in PACCAR by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock valued at $479,466,000 after buying an additional 83,444 shares during the period. Norges Bank bought a new position in PACCAR in the 4th quarter worth $448,288,000. Capital International Investors lifted its holdings in PACCAR by 44.8% in the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after buying an additional 1,225,468 shares during the period. Principal Financial Group Inc. raised its position in shares of PACCAR by 1.5% in the 2nd quarter. Principal Financial Group Inc. now owns 3,219,380 shares of the company’s stock worth $331,403,000 after acquiring an additional 48,784 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of PACCAR by 0.9% in the 4th quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock valued at $268,551,000 after purchasing an additional 23,394 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $93.25 on Friday. The firm has a market cap of $48.88 billion, a P/E ratio of 9.67, a PEG ratio of 1.49 and a beta of 0.91. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average of $98.05 and a 200 day moving average of $107.22.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The business had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.33 EPS. As a group, research analysts expect that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Thursday, August 15th. PACCAR’s dividend payout ratio (DPR) is 12.45%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup reduced their price target on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Evercore ISI reduced their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Finally, Raymond James initiated coverage on shares of PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $112.73.

PACCAR Profile

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.