Alps Advisors Inc. Acquires 3,870 Shares of PACCAR Inc. (NASDAQ:PCAR)

Alps Advisors Inc. boosted its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 12.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,970 shares of the company's stock after purchasing an additional 3,870 shares during the quarter. Alps Advisors Inc.'s holdings in PACCAR were worth $3,308,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock worth $1,747,408,000 after purchasing an additional 3,364,650 shares in the last quarter. Geode Capital Management LLC increased its holdings in PACCAR by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock worth $1,275,269,000 after purchasing an additional 362,637 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in PACCAR by 5.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company's stock worth $1,119,997,000 after purchasing an additional 572,231 shares in the last quarter. FMR LLC increased its holdings in PACCAR by 1.9% in the fourth quarter. FMR LLC now owns 8,791,660 shares of the company's stock worth $914,509,000 after purchasing an additional 167,165 shares in the last quarter. Finally, Northern Trust Corp increased its holdings 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 in the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Down 2.0%

Shares of NASDAQ:PCAR opened at $97.21 on Friday. The stock has a market cap of $51.03 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 3.67 and a beta of 0.94. The company has a quick ratio of 2.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The business's 50 day moving average is $94.21 and its 200 day moving average is $98.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The business had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.13 billion. During the same period in the prior year, the firm posted $2.27 EPS. The firm's revenue for the quarter was down 16.0% on a year-over-year basis. On average, sell-side analysts forecast that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 annualized dividend and a yield of 1.36%. PACCAR's dividend payout ratio is currently 20.00%.

Insiders Place Their Bets

In other PACCAR news, Director Pierre R. Breber acquired 5,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were acquired at an average price of $89.78 per share, with a total value of $448,900.00. Following the completion of the transaction, the director owned 13,015 shares in the company, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.02% of the company's stock.

Analyst Ratings Changes

PCAR has been the subject of several recent research reports. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Evercore ISI decreased their price objective on PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a report on Monday, May 19th. UBS Group downgraded PACCAR from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $108.00 to $78.00 in a report on Monday, April 7th. Citigroup boosted their price objective on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Finally, Morgan Stanley downgraded PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective for the company. in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of "Hold" and a consensus price target of $104.59.

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.

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