Alps Advisors Inc. Increases Stock Position in PACCAR Inc. (NASDAQ:PCAR)

Alps Advisors Inc. grew its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 12.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,970 shares of the company's stock after purchasing an additional 3,870 shares during the period. Alps Advisors Inc.'s holdings in PACCAR were worth $3,308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PCAR. Wellington Management Group LLP grew its holdings in shares of PACCAR by 25.0% during the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock valued at $1,747,408,000 after purchasing an additional 3,364,650 shares during the last quarter. Geode Capital Management LLC raised 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 buying an additional 362,637 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of PACCAR by 5.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company's stock valued at $1,119,997,000 after purchasing an additional 572,231 shares during the last quarter. FMR LLC raised its holdings in shares of PACCAR by 1.9% during the fourth quarter. FMR LLC now owns 8,791,660 shares of the company's stock valued at $914,509,000 after purchasing an additional 167,165 shares during the last quarter. Finally, Northern Trust Corp grew its position in PACCAR by 8.5% during the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company's stock valued at $749,189,000 after buying an additional 565,967 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PCAR shares. Wall Street Zen cut shares of PACCAR from a "hold" rating to a "sell" rating in a report on Sunday. JPMorgan Chase & Co. lowered shares of PACCAR from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. Truist Financial cut their target price on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Evercore ISI dropped their price target on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Finally, Morgan Stanley cut shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price on the stock. in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven 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.com, the stock presently has an average rating of "Hold" and an average target price of $104.59.

PACCAR Stock Performance

PCAR traded down $0.76 during midday trading on Tuesday, reaching $95.13. The company's stock had a trading volume of 2,193,217 shares, compared to its average volume of 2,733,249. The stock has a market cap of $49.94 billion, a P/E ratio of 14.41, a PEG ratio of 3.59 and a beta of 0.94. The company has a fifty day simple moving average of $94.34 and a 200 day simple moving average of $98.76. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81.

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

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.39%. The ex-dividend date is Thursday, August 14th. PACCAR's dividend payout ratio is currently 20.00%.

Insider Activity at PACCAR

In other PACCAR news, Director Pierre R. Breber bought 5,000 shares of the 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 acquisition, the director directly owned 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.02% of the stock is currently owned by corporate insiders.

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.