Mediolanum International Funds Ltd Has $13.26 Million Holdings in PACCAR Inc. (NASDAQ:PCAR)

Mediolanum International Funds Ltd trimmed its holdings in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 11.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,790 shares of the company's stock after selling 17,746 shares during the quarter. Mediolanum International Funds Ltd's holdings in PACCAR were worth $13,256,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after purchasing an additional 240 shares in the last quarter. Meeder Asset Management Inc. lifted its position in PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after purchasing an additional 193 shares during the period. Alpine Bank Wealth Management acquired a new stake in PACCAR during the first quarter worth $29,000. 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 valued at $37,000 after buying an additional 350 shares during the period. Finally, JFS Wealth Advisors LLC raised its stake in shares of PACCAR by 64.9% in the 1st quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock valued at $43,000 after buying an additional 174 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday. Truist Financial decreased their price objective on PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a report on Wednesday. UBS Group upgraded PACCAR from a "sell" rating to a "neutral" rating and upped their price objective for the company from $81.00 to $100.00 in a research note on Wednesday. Royal Bank Of Canada cut their target price on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research report on Thursday, May 8th. Finally, Vertical Research upgraded PACCAR to a "strong-buy" rating in a research report on Wednesday. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, PACCAR has an average rating of "Moderate Buy" and an average target price of $106.45.

Insider Buying and Selling

In other news, Director Pierre R. Breber acquired 5,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the transaction, the director owned 13,015 shares of the company's stock, valued at approximately $1,168,486.70. This represents a 62.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the completion of the sale, the chief financial officer directly owned 468 shares of the company's stock, valued at $47,239.92. This trade represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Trading Up 0.1%

PCAR stock opened at $101.57 on Friday. The business has a fifty day moving average price of $95.03 and a 200 day moving average price of $98.28. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.73 and a quick ratio of 2.19. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The stock has a market capitalization of $53.32 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 4.04 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.09. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a return on equity of 18.25% and a net margin of 9.88%. The firm's quarterly revenue was down 15.7% compared to the same quarter last year. During the same period last year, the company posted $2.13 earnings per share. Analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.30%. PACCAR's payout ratio is 22.60%.

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.

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.