Assenagon Asset Management S.A. grew its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 208.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 192,344 shares of the company's stock after acquiring an additional 130,068 shares during the period. Assenagon Asset Management S.A.'s holdings in PACCAR were worth $18,729,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. grew its holdings in PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after acquiring an additional 193 shares during the period. Kestra Investment Management LLC acquired a new position in shares of PACCAR in the 4th quarter valued at $37,000. Sunbelt Securities Inc. grew its holdings in shares of PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after buying an additional 350 shares during the period. OFI Invest Asset Management acquired a new position in shares of PACCAR in the 4th quarter valued at $43,000. Finally, Atala Financial Inc acquired a new position in shares of PACCAR in the 4th quarter valued at $43,000. Institutional investors own 64.90% of the company's stock.
Insider Buying and Selling
In related news, Director Pierre R. Breber acquired 5,000 shares of PACCAR stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the purchase, the director now owns 13,015 shares of the company's stock, valued at $1,168,486.70. This represents a 62.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.02% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. UBS Group lowered shares of PACCAR from a "neutral" rating to a "sell" rating and decreased their price target for the company from $108.00 to $78.00 in a report on Monday, April 7th. Melius Research set a $120.00 target price on shares of PACCAR in a report on Tuesday, March 18th. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Truist Financial cut their price target 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. Finally, Morgan Stanley downgraded shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target for the company. in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $104.14.
Get Our Latest Stock Report on PACCAR
PACCAR Stock Performance
NASDAQ:PCAR traded down $1.76 during trading on Friday, reaching $91.88. The company's stock had a trading volume of 1,976,656 shares, compared to its average volume of 2,736,673. PACCAR Inc has a 12 month low of $84.65 and a 12 month high of $118.81. The firm has a market cap of $48.23 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 2.77 and a beta of 0.95. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The firm has a 50 day moving average of $92.08 and a 200-day moving average of $101.27.
PACCAR (NASDAQ:PCAR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same period last year, the company posted $2.27 EPS. The business's revenue was down 16.0% on a year-over-year basis. Research analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.
PACCAR Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were given a $0.33 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.44%. PACCAR's dividend payout ratio (DPR) is presently 20.00%.
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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