QV Investors Inc. Acquires 3,185 Shares of PACCAR Inc (NASDAQ:PCAR)

QV Investors Inc. increased its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 7.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,690 shares of the company's stock after acquiring an additional 3,185 shares during the period. QV Investors Inc.'s holdings in PACCAR were worth $4,741,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Czech National Bank lifted its stake in shares of PACCAR by 6.0% during the 1st quarter. Czech National Bank now owns 120,446 shares of the company's stock worth $11,728,000 after purchasing an additional 6,767 shares during the period. Rhumbline Advisers grew its stake in shares of PACCAR by 2.3% during the first quarter. Rhumbline Advisers now owns 1,047,657 shares of the company's stock valued at $102,010,000 after acquiring an additional 23,538 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its stake in shares of PACCAR by 14.6% during the first quarter. Fifth Third Wealth Advisors LLC now owns 5,173 shares of the company's stock valued at $504,000 after acquiring an additional 659 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of PACCAR by 10,716.5% during the first quarter. GAMMA Investing LLC now owns 879,056 shares of the company's stock valued at $85,594,000 after acquiring an additional 870,929 shares in the last quarter. Finally, Insight Wealth Strategies LLC grew its stake in shares of PACCAR by 1.3% during the first quarter. Insight Wealth Strategies LLC now owns 39,538 shares of the company's stock valued at $3,850,000 after acquiring an additional 497 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Analysts Set New Price Targets

PCAR has been the topic of several research analyst reports. Truist Financial reduced their price target on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. JPMorgan Chase & Co. lowered shares of PACCAR from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. Finally, Morgan Stanley lowered shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target on the stock. in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $104.14.

PACCAR Stock Up 0.2%

PCAR stock traded up $0.15 during trading hours on Thursday, reaching $92.74. 591,448 shares of the stock were exchanged, compared to its average volume of 2,749,745. PACCAR Inc has a 12 month low of $84.65 and a 12 month high of $118.81. The firm's 50-day moving average is $92.04 and its 200-day moving average is $102.34. The company has a market cap of $48.68 billion, a price-to-earnings ratio of 11.72, a PEG 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 (NASDAQ:PCAR - Get Free Report) last posted 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 23.53% and a net margin of 12.36%. The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.13 billion. During the same period last year, the firm earned $2.27 EPS. The firm's revenue for the quarter was down 16.0% compared to the same quarter last year. On average, equities research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.42%. PACCAR's payout ratio is currently 20.00%.

Insider Activity

In related news, Director Pierre R. Breber purchased 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired 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 directly owns 13,015 shares in the company, valued at $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.02% of the stock is owned by company insiders.

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.