QRG Capital Management Inc. Lowers Stake in PACCAR Inc. (NASDAQ:PCAR)

QRG Capital Management Inc. cut its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 3.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 343,335 shares of the company's stock after selling 13,055 shares during the period. QRG Capital Management Inc. owned 0.07% of PACCAR worth $33,431,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Meeder Asset Management Inc. lifted its stake 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 buying an additional 193 shares during the period. Kestra Investment Management LLC acquired a new position in shares of PACCAR in the fourth quarter worth about $37,000. Sunbelt Securities Inc. raised its position in shares of PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after acquiring an additional 350 shares during the period. OFI Invest Asset Management acquired a new position in shares of PACCAR in the fourth quarter worth about $43,000. Finally, Atala Financial Inc acquired a new position in shares of PACCAR in the fourth quarter worth about $43,000. 64.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on PCAR. Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Royal Bank Of Canada dropped their price target on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Morgan Stanley lowered shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective on the stock. in a report on Wednesday, April 16th. Melius Research set a $120.00 price objective on shares of PACCAR in a report on Tuesday, March 18th. Finally, Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $104.14.

Insider Activity

In other PACCAR news, Director Pierre R. Breber bought 5,000 shares of the business's 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 completion of the transaction, the director now owns 13,015 shares in the company, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.02% of the company's stock.

PACCAR Stock Down 0.4%

Shares of NASDAQ PCAR traded down $0.38 during mid-day trading on Thursday, reaching $90.72. The company had a trading volume of 2,702,689 shares, compared to its average volume of 2,743,349. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. The firm has a 50 day simple moving average of $92.08 and a two-hundred day simple moving average of $100.86. The stock has a market cap of $47.62 billion, a P/E ratio of 13.75, a PEG ratio of 3.37 and a beta of 0.95. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) 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 business had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. During the same period in the previous year, the business posted $2.27 earnings per share. The company's revenue for the quarter was down 16.0% on a year-over-year basis. Sell-side analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Wednesday, May 14th. PACCAR's payout ratio is 20.00%.

PACCAR Company 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.