Frank Rimerman Advisors LLC Has $3.61 Million Position in PACCAR Inc (NASDAQ:PCAR)

Frank Rimerman Advisors LLC increased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 50.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,529 shares of the company’s stock after acquiring an additional 12,239 shares during the period. Frank Rimerman Advisors LLC’s holdings in PACCAR were worth $3,605,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Capital International Investors raised its holdings in shares of PACCAR by 44.8% during the 1st 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 in the last quarter. Renaissance Technologies LLC acquired a new position in PACCAR during the second quarter worth about $88,437,000. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of PACCAR by 3,636.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company’s stock worth $67,696,000 after acquiring an additional 531,794 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of PACCAR by 24.3% in the 1st quarter. TD Asset Management Inc now owns 2,576,627 shares of the company’s stock valued at $319,218,000 after purchasing an additional 504,346 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of PACCAR in the 2nd quarter valued at approximately $51,277,000. 64.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective 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. cut their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday. Morgan Stanley reduced their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday. Evercore ISI dropped their target price on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Finally, Citigroup boosted their price target on PACCAR from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $114.18.

PACCAR Trading Up 1.0 %

PCAR opened at $105.90 on Friday. PACCAR Inc has a twelve month low of $80.94 and a twelve month high of $125.50. The company has a fifty day moving average of $99.39 and a 200-day moving average of $103.20. The stock has a market cap of $55.51 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.91. The company has a quick ratio of 2.54, a current ratio of 1.91 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same period last year, the company posted $2.34 EPS. The business’s quarterly revenue was down 5.2% on a year-over-year basis. On average, sell-side analysts predict that PACCAR Inc will post 8.07 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s payout ratio is 12.45%.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction 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 directly owns 162,782 shares of the company’s stock, valued at $16,066,583.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.02% of the company’s stock.

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.