Mcdaniel Terry & Co. Lowers Position in PACCAR Inc. (NASDAQ:PCAR)

Mcdaniel Terry & Co. reduced its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 401,703 shares of the company's stock after selling 2,731 shares during the period. PACCAR makes up 3.4% of Mcdaniel Terry & Co.'s portfolio, making the stock its 8th largest holding. Mcdaniel Terry & Co. owned approximately 0.08% of PACCAR worth $39,114,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Kessler Investment Group LLC purchased a new position in shares of PACCAR in the first quarter valued at $229,000. Mirae Asset Global Investments Co. Ltd. lifted its position in PACCAR by 17.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 181,952 shares of the company's stock valued at $17,633,000 after purchasing an additional 27,644 shares during the last quarter. Achmea Investment Management B.V. grew its stake in shares of PACCAR by 42.5% in the 1st quarter. Achmea Investment Management B.V. now owns 29,405 shares of the company's stock worth $2,864,000 after buying an additional 8,772 shares in the last quarter. Perpetual Ltd increased its holdings in shares of PACCAR by 5.1% in the 1st quarter. Perpetual Ltd now owns 10,262 shares of the company's stock worth $999,000 after buying an additional 500 shares during the last quarter. Finally, Pure Financial Advisors LLC purchased a new stake in shares of PACCAR during the 1st quarter valued at about $1,084,000. Hedge funds and other institutional investors own 64.90% of the company's stock.

Analyst Upgrades and Downgrades

PCAR has been the topic of several analyst reports. Morgan Stanley cut PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective on the stock. in a research note on Wednesday, April 16th. UBS Group downgraded PACCAR from a "neutral" rating to a "sell" rating and cut their target price for the company from $108.00 to $78.00 in a research report on Monday, April 7th. Citigroup raised their price target on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Evercore ISI cut their price objective on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a research report on Monday, May 19th. Finally, Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Friday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $104.59.

PACCAR Trading Up 3.3%

NASDAQ:PCAR traded up $3.14 during midday trading on Tuesday, hitting $98.20. The stock had a trading volume of 3,132,730 shares, compared to its average volume of 2,717,517. The stock has a 50-day moving average of $92.85 and a 200 day moving average of $99.40. The company has a market capitalization of $51.55 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 3.51 and a beta of 0.95. PACCAR Inc. has a one year low of $84.65 and a one year high of $118.81. 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 quarterly earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.12). The firm had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The business's quarterly revenue was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.27 EPS. As a group, sell-side analysts forecast 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. Shareholders of record on Wednesday, May 14th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Wednesday, May 14th. PACCAR's dividend payout ratio (DPR) is 20.00%.

Insider Activity at PACCAR

In other PACCAR news, Director Pierre R. Breber acquired 5,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the acquisition, the director directly owned 13,015 shares in the company, valued at $1,168,486.70. This represents a 62.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.02% of the company's stock.

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.