Edgestream Partners L.P. Has $3.32 Million Stock Position in PACCAR Inc. (NASDAQ:PCAR)

Edgestream Partners L.P. increased its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 697.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,118 shares of the company's stock after buying an additional 29,842 shares during the quarter. Edgestream Partners L.P.'s holdings in PACCAR were worth $3,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Isthmus Partners LLC boosted its stake in shares of PACCAR by 0.5% in the first quarter. Isthmus Partners LLC now owns 63,705 shares of the company's stock worth $6,203,000 after buying an additional 344 shares during the last quarter. Arizona State Retirement System lifted its position in shares of PACCAR by 2.3% in the first quarter. Arizona State Retirement System now owns 153,809 shares of the company's stock valued at $14,976,000 after acquiring an additional 3,397 shares in the last quarter. Ballentine Partners LLC boosted its stake in PACCAR by 6.8% during the 1st quarter. Ballentine Partners LLC now owns 6,623 shares of the company's stock worth $645,000 after purchasing an additional 420 shares during the last quarter. Applied Capital LLC FL boosted its position in PACCAR by 0.5% during the first quarter. Applied Capital LLC FL now owns 25,210 shares of the company's stock worth $2,455,000 after acquiring an additional 124 shares during the last quarter. Finally, Xponance Inc. grew its position in shares of PACCAR by 2.0% in the first quarter. Xponance Inc. now owns 75,800 shares of the company's stock valued at $7,381,000 after purchasing an additional 1,481 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

Insiders Place Their Bets

In other PACCAR news, Director Pierre R. Breber purchased 5,000 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was bought at an average cost of $89.78 per share, with a total value of $448,900.00. Following the acquisition, the director owned 13,015 shares of the company's stock, valued at $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.02% of the company's stock.

Analyst Ratings Changes

PCAR has been the topic of several recent analyst reports. UBS Group lowered shares of PACCAR from a "neutral" rating to a "sell" rating and decreased their target price for the company from $108.00 to $78.00 in a report on Monday, April 7th. Evercore ISI reduced their target price on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. Royal Bank Of Canada reduced their target price 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. Truist Financial dropped their price objective on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Finally, Citigroup increased their target price on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, June 24th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $104.59.

PACCAR Price Performance

Shares of NASDAQ PCAR traded down $0.37 during midday trading on Friday, hitting $93.68. The company had a trading volume of 3,704,114 shares, compared to its average volume of 2,748,430. The company has a quick ratio of 2.19, a current ratio of 2.35 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. The business has a 50-day simple moving average of $94.65 and a two-hundred day simple moving average of $98.65. The firm has a market capitalization of $49.18 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 3.52 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last released 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 company 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 firm posted $2.27 earnings per share. PACCAR's revenue for the quarter was down 16.0% compared to the same quarter last year. Equities research analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Thursday, August 14th. PACCAR's payout ratio is 20.00%.

PACCAR 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.