New England Research & Management Inc. purchased a new position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,350 shares of the company's stock, valued at approximately $1,008,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its stake in shares of 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 acquiring an additional 193 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in shares of 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 acquiring an additional 350 shares during the last quarter. Kestra Investment Management LLC purchased a new position in PACCAR during the 4th quarter valued at about $37,000. Atala Financial Inc purchased a new position in PACCAR during the 4th quarter valued at about $43,000. Finally, OFI Invest Asset Management purchased a new position in PACCAR during the fourth quarter valued at $43,000. Institutional investors own 64.90% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on PCAR shares. Royal Bank of Canada lowered their price objective on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Citigroup decreased their price target on PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. JPMorgan Chase & Co. lowered PACCAR from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $105.00 to $90.00 in a report on Wednesday, April 30th. Finally, Melius Research set a $120.00 price objective on PACCAR in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $104.14.
Read Our Latest Stock Report on PCAR
PACCAR Trading Up 1.1%
Shares of PCAR stock traded up $1.04 during trading on Monday, hitting $92.92. 699,385 shares of the stock traded hands, compared to its average volume of 2,728,717. The firm has a market capitalization of $48.78 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 2.77 and a beta of 0.95. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a 52-week low of $84.65 and a 52-week high of $118.81. The firm's fifty day moving average price is $92.08 and its 200-day moving average price is $101.17.
PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly 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 return on equity of 23.53% and a net margin of 12.36%. The company had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. During the same period in the prior year, the business earned $2.27 EPS. The business's quarterly revenue was down 16.0% compared to the same quarter last year. As a group, research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.
PACCAR Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.42%. The ex-dividend date was Wednesday, May 14th. PACCAR's dividend payout ratio (DPR) is presently 20.00%.
Insider Transactions at PACCAR
In other PACCAR news, Director Pierre R. Breber purchased 5,000 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $89.78 per share, with a total value of $448,900.00. Following the completion of the purchase, the director now owns 13,015 shares in the company, valued at $1,168,486.70. This trade represents a 62.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.02% of the company's stock.
PACCAR Profile
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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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