Cambridge Investment Research Advisors Inc. Boosts Stock Holdings in PACCAR Inc. (NASDAQ:PCAR)

Cambridge Investment Research Advisors Inc. increased its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 62.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,289 shares of the company's stock after purchasing an additional 13,904 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in PACCAR were worth $3,533,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PCAR. Meeder Asset Management Inc. grew its holdings in PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after purchasing an additional 193 shares during the period. Sunbelt Securities Inc. increased its holdings in PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after acquiring an additional 350 shares during the last quarter. Atala Financial Inc bought a new stake in PACCAR in the 4th quarter valued at about $43,000. OFI Invest Asset Management purchased a new stake in PACCAR during the fourth quarter valued at about $43,000. Finally, Farmers & Merchants Investments Inc. boosted its position in PACCAR by 33.1% during the first quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock worth $45,000 after purchasing an additional 116 shares during the period. Hedge funds and other institutional investors own 64.90% of the company's stock.

Insider Transactions at PACCAR

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Citigroup raised their price target on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Royal Bank Of Canada lowered their price target on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a report on Thursday, May 8th. JPMorgan Chase & Co. lowered shares of PACCAR from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $105.00 to $90.00 in a report on Wednesday, April 30th. 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, Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a report on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $104.59.

PACCAR Stock Up 0.0%

Shares of NASDAQ PCAR opened at $94.89 on Monday. The firm has a fifty day simple moving average of $92.69 and a two-hundred day simple moving average of $99.53. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $49.81 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 3.51 and a beta of 0.95.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its 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). PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The firm had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.13 billion. During the same quarter in the previous year, the business earned $2.27 EPS. The company's revenue for the quarter was down 16.0% compared to the same quarter last year. Equities analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Wednesday, May 14th. PACCAR's payout ratio is 20.00%.

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.

Want to see what other hedge funds are holding PCAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PACCAR Inc. (NASDAQ:PCAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.