Oppenheimer Asset Management Inc. Has $8.58 Million Holdings in PACCAR Inc. (NASDAQ:PCAR)

Oppenheimer Asset Management Inc. grew its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,086 shares of the company's stock after purchasing an additional 5,028 shares during the period. Oppenheimer Asset Management Inc.'s holdings in PACCAR were worth $8,577,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. JFS Wealth Advisors LLC boosted its stake in shares of PACCAR by 64.9% during the 1st quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock worth $43,000 after acquiring an additional 174 shares in the last quarter. Stiles Financial Services Inc bought a new stake in shares of PACCAR during the 1st quarter worth about $227,000. TrueMark Investments LLC bought a new stake in shares of PACCAR during the 1st quarter worth about $292,000. Cambridge Investment Research Advisors Inc. boosted its stake in shares of PACCAR by 62.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company's stock worth $3,533,000 after acquiring an additional 13,904 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of PACCAR by 19.3% during the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 14,958 shares of the company's stock worth $1,456,000 after acquiring an additional 2,419 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $91.75 on Tuesday. The business has a 50 day moving average price of $92.17 and a 200 day moving average price of $100.09. PACCAR Inc. has a twelve month low of $84.65 and a twelve month high of $118.81. The company has a market cap of $48.16 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 3.36 and a beta of 0.95. The company has a quick ratio of 2.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.55.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its 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 net margin of 10.73% and a return on equity of 20.79%. 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 company earned $2.27 EPS. PACCAR's revenue for the quarter was down 16.0% compared to the same quarter last year. Research analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th were given a $0.33 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.44%. PACCAR's dividend payout ratio is currently 20.00%.

Insiders Place Their Bets

In other news, Director Pierre R. Breber acquired 5,000 shares of PACCAR stock in a transaction on Tuesday, May 6th. The stock was bought at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the transaction, the director now owns 13,015 shares of the company's stock, valued at $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.02% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PCAR. UBS Group downgraded PACCAR from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. Royal Bank Of Canada decreased their price target 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. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Finally, Morgan Stanley downgraded PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target for the company. in a research note on Wednesday, April 16th. One equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of "Hold" and a consensus price target 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.

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.