Regents Gate Capital LLP Has $7.21 Million Stake in PACCAR Inc. (NASDAQ:PCAR)

Regents Gate Capital LLP increased its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 17,395.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,007 shares of the company's stock after purchasing an additional 73,584 shares during the period. PACCAR comprises about 3.1% of Regents Gate Capital LLP's investment portfolio, making the stock its 14th largest position. Regents Gate Capital LLP's holdings in PACCAR were worth $7,206,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PCAR. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after acquiring an additional 240 shares during the period. Meeder Asset Management Inc. grew its holdings 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 in the last quarter. Alpine Bank Wealth Management bought a new position in shares of PACCAR during the first quarter worth about $29,000. Sunbelt Securities Inc. grew its stake in PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after purchasing an additional 350 shares in the last quarter. Finally, Atala Financial Inc bought a new position in PACCAR in the fourth quarter valued at approximately $43,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Price Performance

Shares of NASDAQ:PCAR traded down $0.03 during trading on Wednesday, reaching $98.67. 2,097,059 shares of the company traded hands, compared to its average volume of 2,721,811. The company's 50 day moving average is $93.71 and its two-hundred day moving average is $99.01. The firm has a market capitalization of $51.80 billion, a PE ratio of 14.95, a PEG ratio of 3.57 and a beta of 0.94. 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 Inc. has a 52 week low of $84.65 and a 52 week high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The business's revenue was down 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.27 earnings per share. As a group, sell-side analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR's dividend payout ratio (DPR) is presently 20.00%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PCAR. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Evercore ISI reduced their target price on PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. Truist Financial reduced their target price on PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. downgraded PACCAR from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $105.00 to $90.00 in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $104.59.

Insider Transactions at PACCAR

In other PACCAR news, Director Pierre R. Breber bought 5,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was purchased 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 owned 13,015 shares in the company, 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 filing with the SEC, which is available through the SEC website. 2.02% of the stock is currently owned by corporate insiders.

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.