Norris Perne & French LLP MI Purchases 70,572 Shares of PACCAR Inc. (NASDAQ:PCAR)

Norris Perne & French LLP MI increased its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 32.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 289,874 shares of the company's stock after buying an additional 70,572 shares during the period. PACCAR accounts for 2.1% of Norris Perne & French LLP MI's holdings, making the stock its 14th biggest holding. Norris Perne & French LLP MI owned about 0.06% of PACCAR worth $28,225,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its holdings in PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock worth $9,258,000 after purchasing an additional 290 shares in the last quarter. Principal Securities Inc. lifted its position in shares of PACCAR by 10.9% during the 4th quarter. Principal Securities Inc. now owns 8,918 shares of the company's stock valued at $928,000 after acquiring an additional 873 shares during the period. Venturi Wealth Management LLC lifted its position in shares of PACCAR by 12.3% during the 4th quarter. Venturi Wealth Management LLC now owns 6,479 shares of the company's stock valued at $674,000 after acquiring an additional 712 shares during the period. Kestra Investment Management LLC bought a new position in PACCAR during the fourth quarter worth $37,000. Finally, Key Financial Inc grew its holdings in PACCAR by 37.5% in the fourth quarter. Key Financial Inc now owns 664 shares of the company's stock worth $69,000 after purchasing an additional 181 shares during the period. Institutional investors own 64.90% of the company's stock.

PACCAR Stock Up 0.3%

PCAR traded up $0.27 during mid-day trading on Friday, reaching $90.99. 6,535,618 shares of the stock were exchanged, compared to its average volume of 2,752,879. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 2.35. The stock has a market capitalization of $47.77 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 3.36 and a beta of 0.95. The company has a 50 day moving average price of $92.13 and a two-hundred day moving average price of $100.38.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly 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 20.79% and a net margin of 10.73%. The firm had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. During the same quarter last year, the firm posted $2.27 earnings per share. The firm's revenue for the quarter was down 16.0% compared to the same quarter last year. As a group, research analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.45%. PACCAR's payout ratio is presently 20.00%.

Analysts Set New Price Targets

PCAR has been the topic of several research reports. Citigroup dropped their price objective on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a report on Friday, May 9th. UBS Group cut PACCAR from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Melius raised PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Finally, Royal Bank Of Canada reduced 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PACCAR currently has an average rating of "Hold" and an average target price of $104.14.

Insider Transactions at PACCAR

In other PACCAR news, Director Pierre R. Breber bought 5,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were bought at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the purchase, the director now directly owns 13,015 shares of the company's stock, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.02% of the company's stock.

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.