TrueMark Investments LLC Purchases New Stake in PACCAR Inc. (NASDAQ:PCAR)

TrueMark Investments LLC acquired a new position in PACCAR Inc. (NASDAQ:PCAR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,996 shares of the company's stock, valued at approximately $292,000.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock valued at $1,747,408,000 after acquiring an additional 3,364,650 shares during the period. Geode Capital Management LLC grew its stake in shares of PACCAR by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock valued at $1,275,269,000 after buying an additional 362,637 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of PACCAR by 5.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company's stock worth $1,119,997,000 after acquiring an additional 572,231 shares during the last quarter. FMR LLC boosted its holdings in PACCAR by 1.9% during the 4th quarter. FMR LLC now owns 8,791,660 shares of the company's stock valued at $914,509,000 after acquiring an additional 167,165 shares during the period. Finally, Northern Trust Corp increased its stake in PACCAR by 8.5% in the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company's stock worth $749,189,000 after purchasing an additional 565,967 shares during the period. Institutional investors own 64.90% of the company's stock.

Insider Buying and Selling

In related news, Director Pierre R. Breber purchased 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the purchase, the director now owns 13,015 shares of the company's stock, valued at $1,168,486.70. This represents a 62.38% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Stock Up 2.5%

Shares of PCAR stock traded up $2.26 during trading hours on Tuesday, reaching $94.01. 2,342,615 shares of the company's stock were exchanged, compared to its average volume of 2,840,772. The stock has a market cap of $49.35 billion, a PE ratio of 14.24, a PEG ratio of 3.36 and a beta of 0.95. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. The stock's fifty day moving average price is $92.17 and its two-hundred day moving average price is $100.09. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.13 billion. During the same period in the prior year, the firm posted $2.27 EPS. The business's revenue was down 16.0% compared to the same quarter last year. Research analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were paid a $0.33 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.40%. PACCAR's payout ratio is currently 20.00%.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of research analyst reports. Truist Financial cut their price target on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. lowered PACCAR from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $105.00 to $90.00 in a report on Wednesday, April 30th. Morgan Stanley lowered PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price for the company. in a research report on Wednesday, April 16th. Melius raised PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Finally, UBS Group lowered shares of PACCAR from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $104.59.

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.