Vanguard Personalized Indexing Management LLC increased its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 13.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,935 shares of the company's stock after purchasing an additional 8,206 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in PACCAR were worth $6,669,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. grew its holdings in PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock worth $27,000 after acquiring an additional 240 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in PACCAR during the 1st quarter worth about $29,000. Bayforest Capital Ltd grew its holdings in PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after acquiring an additional 274 shares during the last quarter. Accent Capital Management LLC bought a new stake in PACCAR during the 1st quarter worth about $40,000. Finally, JFS Wealth Advisors LLC grew its holdings in PACCAR by 64.9% during the 1st quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock worth $43,000 after acquiring an additional 174 shares during the last quarter. Institutional investors own 64.90% of the company's stock.
PACCAR Stock Up 0.2%
PACCAR stock opened at $93.23 on Tuesday. The company's 50 day simple moving average is $98.67 and its 200 day simple moving average is $95.48. PACCAR Inc. has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The firm has a market capitalization of $48.96 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 3.79 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80.
PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same quarter last year, the firm earned $2.13 EPS. PACCAR's quarterly revenue was down 15.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.
PACCAR Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.4%. PACCAR's dividend payout ratio (DPR) is presently 22.60%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on PCAR shares. JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price on the stock in a research note on Monday, July 28th. Vertical Research raised shares of PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. UBS Group raised shares of PACCAR from a "sell" rating to a "neutral" rating and raised their target price for the company from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Finally, Truist Financial set a $97.00 target price on shares of PACCAR and gave the company a "hold" rating in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $107.59.
Get Our Latest Research Report on PACCAR
Insider Activity at PACCAR
In related news, CEO R Preston Feight sold 39,965 shares of PACCAR stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares of the company's stock, valued at $22,211,868.80. This trade represents a 15.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brice J. Poplawski sold 5,000 shares of PACCAR stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the transaction, the chief financial officer directly owned 468 shares in the company, valued at $47,239.92. The trade was a 91.44% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.
PACCAR Profile
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Free Report)
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.
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