Mengis Capital Management Inc. Has $40.14 Million Position in PACCAR Inc (NASDAQ:PCAR)

Mengis Capital Management Inc. boosted its stake in shares of PACCAR Inc (NASDAQ:PCARFree Report) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 472,167 shares of the company’s stock after buying an additional 1,375 shares during the period. PACCAR accounts for about 8.3% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Mengis Capital Management Inc. owned approximately 0.09% of PACCAR worth $40,144,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Larson Financial Group LLC boosted its holdings in PACCAR by 86.2% during the second quarter. Larson Financial Group LLC now owns 296 shares of the company’s stock worth $25,000 after buying an additional 137 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of PACCAR during the 3rd quarter valued at approximately $26,000. ST Germain D J Co. Inc. grew its position in shares of PACCAR by 61.9% in the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after purchasing an additional 130 shares during the period. Arlington Trust Co LLC acquired a new stake in PACCAR in the 3rd quarter worth about $30,000. Finally, Achmea Investment Management B.V. purchased a new stake in shares of PACCAR during the first quarter worth approximately $33,000. 65.68% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

PACCAR stock traded up $0.01 during trading hours on Monday, reaching $106.02. 1,378,109 shares of the stock were exchanged, compared to its average volume of 2,338,425. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.20 and a current ratio of 1.49. The firm’s 50 day moving average is $97.82 and its 200 day moving average is $90.06. PACCAR Inc has a 52-week low of $67.48 and a 52-week high of $106.41. The stock has a market cap of $55.46 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.70 and a beta of 0.90.

PACCAR (NASDAQ:PCARGet Free Report) last issued its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The company had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same period last year, the company posted $1.76 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. Analysts predict that PACCAR Inc will post 7.96 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a Special dividend, which was paid on Thursday, January 4th. Investors of record on Friday, December 15th were paid a $3.20 dividend. The ex-dividend date was Thursday, December 14th. This is a positive change from PACCAR’s previous Special dividend of $0.89. PACCAR’s dividend payout ratio is presently 12.31%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. UBS Group raised their price objective on shares of PACCAR from $90.00 to $104.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Morgan Stanley initiated coverage on shares of PACCAR in a research report on Monday, January 8th. They issued an “overweight” rating and a $125.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised PACCAR from a “hold” rating to a “buy” rating and lifted their price target for the stock from $94.00 to $115.00 in a report on Wednesday, October 25th. Finally, TD Cowen upped their target price on shares of PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.32.

Check Out Our Latest Analysis on PACCAR

Insider Activity at PACCAR

In related news, Chairman Mark C. Pigott sold 74,347 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total value of $7,578,189.71. Following the sale, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at $493,675,224.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO R Preston Feight sold 27,320 shares of PACCAR stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the sale, the chief executive officer now owns 145,495 shares in the company, valued at $15,010,719.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark C. Pigott sold 74,347 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the completion of the transaction, the chairman now owns 4,843,277 shares in the company, valued at approximately $493,675,224.61. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,699 shares of company stock valued at $12,143,407. 2.06% of the stock is owned by insiders.

About PACCAR

(Free Report)

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.

See Also

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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