Gotham Asset Management LLC reduced its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 41.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,718 shares of the company's stock after selling 2,627 shares during the quarter. Gotham Asset Management LLC's holdings in PACCAR were worth $387,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of PCAR. Meeder Asset Management Inc. boosted its position in PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after buying an additional 193 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in PACCAR during the 4th quarter valued at approximately $37,000. Kestra Investment Management LLC acquired a new stake in PACCAR during the 4th quarter valued at approximately $37,000. Atala Financial Inc purchased a new stake in PACCAR during the 4th quarter worth approximately $43,000. Finally, Regents Gate Capital LLP acquired a new position in shares of PACCAR in the 4th quarter valued at approximately $44,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have recently weighed in on PCAR. JPMorgan Chase & Co. downgraded shares of PACCAR from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. Truist Financial reduced their price objective on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Melius Research set a $120.00 target price on shares of PACCAR in a research report on Tuesday, March 18th. Citigroup cut their target price on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, UBS Group cut shares of PACCAR from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, PACCAR presently has a consensus rating of "Hold" and an average price target of $104.14.
View Our Latest Report on PACCAR
Insiders Place Their Bets
In other news, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the transaction, the director now owns 13,015 shares of the company's stock, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.02% of the stock is owned by corporate insiders.
PACCAR Stock Performance
PCAR traded down $1.09 on Friday, hitting $93.24. 2,249,642 shares of the company's stock were exchanged, compared to its average volume of 2,772,844. 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 stock has a fifty day moving average of $92.96 and a two-hundred day moving average of $103.62. PACCAR Inc has a twelve month low of $84.65 and a twelve month high of $118.81. The firm has a market cap of $48.95 billion, a PE ratio of 11.79, a P/E/G ratio of 2.77 and a beta of 0.96.
PACCAR (NASDAQ:PCAR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.12). The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The firm's revenue for the quarter was down 16.0% compared to the same quarter last year. During the same period last year, the company posted $2.27 earnings per share. On average, research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.
PACCAR Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Wednesday, May 14th. PACCAR's dividend payout ratio 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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