Tounjian Advisory Partners LLC Purchases New Stake in PACCAR Inc (NASDAQ:PCAR)

Tounjian Advisory Partners LLC bought a new position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,808 shares of the company's stock, valued at approximately $663,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Pallas Capital Advisors LLC bought a new stake in PACCAR during the first quarter worth approximately $288,000. Farther Finance Advisors LLC boosted its position in PACCAR by 26.4% during the first quarter. Farther Finance Advisors LLC now owns 9,434 shares of the company's stock worth $927,000 after purchasing an additional 1,970 shares during the period. Moss Adams Wealth Advisors LLC boosted its position in PACCAR by 6.6% during the first quarter. Moss Adams Wealth Advisors LLC now owns 3,058 shares of the company's stock worth $298,000 after purchasing an additional 190 shares during the period. Capital Investment Advisors LLC bought a new stake in PACCAR during the first quarter worth approximately $827,000. Finally, Park Avenue Securities LLC boosted its position in PACCAR by 9.2% during the first quarter. Park Avenue Securities LLC now owns 25,400 shares of the company's stock worth $2,473,000 after purchasing an additional 2,138 shares during the period. Institutional investors own 64.90% of the company's stock.

PACCAR Stock Performance

PCAR stock traded down $0.90 during midday trading on Wednesday, hitting $93.88. The stock had a trading volume of 1,382,008 shares, compared to its average volume of 2,739,907. The firm has a market capitalization of $49.28 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 2.77 and a beta of 0.95. PACCAR Inc has a 52 week low of $84.65 and a 52 week high of $118.81. The stock has a 50-day simple moving average of $91.80 and a 200 day simple moving average of $101.75. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.13 billion. During the same quarter in the prior year, the company earned $2.27 earnings per share. The business's revenue was down 16.0% compared to the same quarter last year. As a group, equities research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.41%. PACCAR's dividend payout ratio is currently 20.00%.

Insiders Place Their Bets

In related news, Director Pierre R. Breber acquired 5,000 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the purchase, the director now directly owns 13,015 shares of the company's stock, valued at $1,168,486.70. The trade was a 62.38% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.02% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PCAR. Melius raised PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Morgan Stanley cut PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective for the company. in a research report on Wednesday, April 16th. Royal Bank of Canada reduced their price objective on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research report on Thursday, May 8th. Citigroup reduced their price objective on PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. cut PACCAR from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $105.00 to $90.00 in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PACCAR currently has an average rating of "Hold" and a consensus price target of $104.14.

PACCAR Company 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.