GAMMA Investing LLC Purchases 870,929 Shares of PACCAR Inc (NASDAQ:PCAR)

GAMMA Investing LLC lifted its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 10,716.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 879,056 shares of the company's stock after purchasing an additional 870,929 shares during the quarter. GAMMA Investing LLC owned about 0.17% of PACCAR worth $85,594,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of PACCAR by 25.0% in the 4th 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 increased its holdings in shares of PACCAR by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock valued at $1,275,269,000 after purchasing an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of PACCAR by 5.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company's stock valued at $1,119,997,000 after purchasing an additional 572,231 shares during the period. FMR LLC increased its holdings in shares of PACCAR by 1.9% in the fourth quarter. FMR LLC now owns 8,791,660 shares of the company's stock valued at $914,509,000 after purchasing an additional 167,165 shares during the period. Finally, Northern Trust Corp grew its holdings in 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 acquiring an additional 565,967 shares during the period. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Price Performance

Shares of PCAR traded down $0.16 during mid-day trading on Thursday, hitting $92.43. 2,130,886 shares of the company traded hands, compared to its average volume of 2,752,224. PACCAR Inc has a one year low of $84.65 and a one year high of $118.81. The stock has a market capitalization of $48.52 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 2.77 and a beta of 0.95. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average of $91.94 and a 200 day moving average of $102.20.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $7.13 billion. During the same quarter last year, the business posted $2.27 earnings per share. The company's revenue for the quarter was down 16.0% on a year-over-year basis. As a group, equities analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders 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 1.43%. PACCAR's payout ratio is 20.00%.

Insider Activity

In other news, Director Pierre R. Breber purchased 5,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were acquired at an average price of $89.78 per share, with a total value of $448,900.00. Following the completion of the transaction, the director now owns 13,015 shares of the company's stock, valued at $1,168,486.70. The trade was a 62.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Royal Bank of Canada decreased their target price on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. UBS Group cut PACCAR from a "neutral" rating to a "sell" rating and cut their target price for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. JPMorgan Chase & Co. cut PACCAR from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $105.00 to $90.00 in a research note on Wednesday, April 30th. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Finally, Melius raised PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $104.14.

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.