Regents Gate Capital LLP Boosts Position in PACCAR Inc. (NASDAQ:PCAR)

Regents Gate Capital LLP boosted its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 17,395.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,007 shares of the company's stock after acquiring an additional 73,584 shares during the period. PACCAR comprises 3.1% of Regents Gate Capital LLP's investment portfolio, making the stock its 14th biggest holding. 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 large investors also recently modified their holdings of PCAR. Norges Bank purchased a new stake in shares of PACCAR during the 4th quarter worth approximately $526,922,000. Kovitz Investment Group Partners LLC boosted its stake in PACCAR by 370.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock valued at $557,453,000 after acquiring an additional 4,219,964 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of PACCAR by 25.0% during the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock worth $1,747,408,000 after purchasing an additional 3,364,650 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of PACCAR during the fourth quarter worth about $254,651,000. Finally, GAMMA Investing LLC lifted its holdings in shares of PACCAR by 10,716.5% in the 1st quarter. GAMMA Investing LLC now owns 879,056 shares of the company's stock valued at $85,594,000 after purchasing an additional 870,929 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on PCAR. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. UBS Group cut shares of 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 report on Monday, April 7th. Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Evercore ISI lowered their price target on PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. Finally, Truist Financial dropped their price target on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, PACCAR currently has a consensus rating of "Hold" and a consensus price target of $104.59.

Insider Activity at PACCAR

In other news, Director Pierre R. Breber acquired 5,000 shares of PACCAR stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 owned 13,015 shares of the company's stock, valued at approximately $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 is available at this hyperlink. 2.02% of the stock is currently owned by insiders.

PACCAR Price Performance

Shares of PACCAR stock traded down $2.01 during trading on Friday, reaching $97.21. The company's stock had a trading volume of 2,822,712 shares, compared to its average volume of 2,728,015. The business has a 50 day moving average price of $94.07 and a 200-day moving average price of $98.97. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The company has a market capitalization of $51.03 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 3.65 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 (NASDAQ:PCAR - Get Free Report) last issued its 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 company had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. PACCAR had a return on equity of 20.79% and a net margin of 10.73%. PACCAR's revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.27 earnings per share. As a group, sell-side analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. PACCAR's dividend payout ratio is currently 20.00%.

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.