Sigma Planning Corp Acquires 9,944 Shares of PACCAR Inc. $PCAR

Key Points

• Sigma Planning Corp increased its PACCAR stake by 501% in the first quarter, buying 9,944 additional shares and bringing its total holdings to 11,929 shares worth about $1.38 million.
• PACCAR reported mixed quarterly results, matching earnings estimates at $1.15 per share while revenue of $6.78 billion came in above expectations but was down 9.8% year over year.
• The company announced a quarterly dividend of $0.35 per share, payable on September 2, and Wall Street currently rates PACCAR as a Hold with an average price target of $124.18.

Sigma Planning Corp boosted its holdings in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 501.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,929 shares of the company's stock after buying an additional 9,944 shares during the period. Sigma Planning Corp's holdings in PACCAR were worth $1,378,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of PACCAR by 0.3% during the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock valued at $9,258,000 after buying an additional 290 shares during the last quarter. Focus Partners Wealth lifted its position in PACCAR by 15.4% in the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company's stock valued at $1,324,000 after acquiring an additional 1,812 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in PACCAR by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company's stock valued at $22,886,000 after purchasing an additional 5,327 shares during the last quarter. Ieq Capital LLC increased its holdings in PACCAR by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company's stock worth $3,556,000 after purchasing an additional 3,858 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in PACCAR during the 2nd quarter worth approximately $81,000. 64.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of recent research reports. Evercore set a $139.00 target price on PACCAR in a report on Monday, May 11th. Truist Financial upped their price target on PACCAR from $126.00 to $131.00 and gave the stock a "hold" rating in a report on Thursday, July 2nd. BNP Paribas Exane assumed coverage on PACCAR in a research report on Tuesday, March 31st. They issued a "neutral" rating and a $126.00 price target for the company. Weiss Ratings cut PACCAR from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 21st. Finally, Citigroup reaffirmed a "neutral" rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, PACCAR currently has an average rating of "Hold" and an average price target of $124.18.

PACCAR Stock Performance

NASDAQ PCAR opened at $126.20 on Friday. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $131.88. The company has a 50-day simple moving average of $117.32 and a 200 day simple moving average of $119.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The company has a market capitalization of $66.42 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.17 and a beta of 0.97.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the previous year, the firm posted $1.46 earnings per share. The company's revenue for the quarter was down 9.8% on a year-over-year basis. On average, research analysts predict that PACCAR Inc. will post 5.62 EPS for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR's payout ratio is 29.79%.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company's products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR's core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.

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