Arizona State Retirement System raised its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 153,809 shares of the company's stock after acquiring an additional 3,397 shares during the period. Arizona State Retirement System's holdings in PACCAR were worth $14,976,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PCAR. Wellington Management Group LLP boosted its position in shares of PACCAR by 25.0% during the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock worth $1,747,408,000 after buying an additional 3,364,650 shares during the period. Geode Capital Management LLC boosted its position 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 worth $1,275,269,000 after buying an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA boosted its position 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 worth $1,119,997,000 after buying an additional 572,231 shares during the period. FMR LLC boosted its position in shares of PACCAR by 1.9% during the fourth quarter. FMR LLC now owns 8,791,660 shares of the company's stock worth $914,509,000 after buying an additional 167,165 shares during the period. Finally, Northern Trust Corp boosted its position in shares of PACCAR by 8.5% during the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company's stock worth $749,189,000 after buying an additional 565,967 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have recently weighed in on PCAR. Evercore ISI reduced their price objective on PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Wall Street Zen cut PACCAR from a "hold" rating to a "sell" rating in a research report on Sunday. Morgan Stanley lowered PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price on the stock. in a report on Wednesday, April 16th. JPMorgan Chase & Co. lowered PACCAR from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $105.00 to $90.00 in a report on Wednesday, April 30th. Finally, UBS Group lowered PACCAR from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $108.00 to $78.00 in a report on Monday, April 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $104.59.
Read Our Latest Report on PACCAR
PACCAR Price Performance
NASDAQ:PCAR opened at $97.21 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. The stock's 50 day moving average price is $94.21 and its two-hundred day moving average price is $98.87. The firm has a market capitalization of $51.03 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 3.59 and a beta of 0.94. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81.
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). The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.13 billion. PACCAR had a net margin of 10.73% and a return on equity of 20.79%. PACCAR's quarterly revenue was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.27 EPS. On average, analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current year.
PACCAR Dividend Announcement
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 paid a $0.33 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.32 annualized dividend and a yield of 1.36%. PACCAR's dividend payout ratio is 20.00%.
Insider Transactions at PACCAR
In other news, Director Pierre R. Breber bought 5,000 shares of the 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 purchase, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.02% of the stock is owned by corporate insiders.
About PACCAR
(
Free Report)
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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