2,722 Shares in PACCAR Inc. (NASDAQ:PCAR) Bought by Alta Advisers Ltd

Alta Advisers Ltd acquired a new stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,722 shares of the company's stock, valued at approximately $265,000.

A number of other hedge funds have also added to or reduced their stakes in PCAR. Brighton Jones LLC increased its stake in PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock valued at $9,258,000 after acquiring an additional 290 shares during the last quarter. IFP Advisors Inc increased its stake in PACCAR by 18.3% in the fourth quarter. IFP Advisors Inc now owns 952 shares of the company's stock valued at $99,000 after acquiring an additional 147 shares during the last quarter. Proficio Capital Partners LLC bought a new position in PACCAR in the fourth quarter valued at approximately $215,000. SVB Wealth LLC bought a new position in PACCAR in the fourth quarter valued at approximately $434,000. Finally, Smartleaf Asset Management LLC increased its stake in PACCAR by 12.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,915 shares of the company's stock valued at $406,000 after acquiring an additional 421 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Activity at PACCAR

In other PACCAR news, Director Pierre R. Breber purchased 5,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were bought at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the acquisition, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PCAR. Morgan Stanley cut shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective on the stock. in a research note on Wednesday, April 16th. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday. UBS Group lowered shares of PACCAR from a "neutral" rating to a "sell" rating and cut their target price for the company from $108.00 to $78.00 in a research report on Monday, April 7th. Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Finally, Melius Research set a $120.00 target price on shares of PACCAR in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $104.59.

PACCAR Trading Down 2.1%

Shares of NASDAQ:PCAR traded down $2.07 during mid-day trading on Friday, reaching $97.28. 1,914,518 shares of the company's stock were exchanged, compared to its average volume of 2,723,534. The firm has a market capitalization of $51.07 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 3.61 and a beta of 0.94. The business's fifty day moving average price is $93.45 and its 200-day moving average price is $99.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 2.35. 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 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). The business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a return on equity of 20.79% and a net margin of 10.73%. PACCAR's revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.27 EPS. On average, research analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.36%. PACCAR's dividend payout ratio (DPR) is presently 20.00%.

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.