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

Norris Perne & French LLP MI raised its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 32.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 289,874 shares of the company's stock after buying an additional 70,572 shares during the period. PACCAR comprises approximately 2.1% of Norris Perne & French LLP MI's holdings, making the stock its 14th largest 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 institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. raised its position in shares of PACCAR by 221.8% during 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. Sunbelt Securities Inc. increased its stake 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 last quarter. Kestra Investment Management LLC bought a new stake in PACCAR during the 4th quarter worth about $37,000. Atala Financial Inc acquired a new position in shares of PACCAR during the 4th quarter worth about $43,000. Finally, OFI Invest Asset Management acquired a new position in shares of PACCAR during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Performance

Shares of PACCAR stock opened at $90.72 on Thursday. The business's fifty day simple moving average is $92.08 and its 200 day simple moving average is $100.86. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81. The firm has a market capitalization of $47.62 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 3.37 and a beta of 0.95.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the previous year, the firm earned $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, analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were issued 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 1.46%. PACCAR's dividend payout ratio (DPR) is presently 20.00%.

Insiders Place Their Bets

In other news, Director Pierre R. Breber bought 5,000 shares of the firm's stock in a transaction that occurred 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 acquisition, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.02% of the company's stock.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of analyst reports. Melius Research set a $120.00 price target on PACCAR in a research note on Tuesday, March 18th. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Citigroup reduced their price objective 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. JPMorgan Chase & Co. downgraded shares of PACCAR from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. Finally, UBS Group lowered shares of 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price 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.

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