Virtu Financial LLC Invests $1.70 Million in PACCAR Inc. (NASDAQ:PCAR)

Key Points

• Virtu Financial LLC has invested approximately $1.70 million in PACCAR Inc. by acquiring 17,452 shares in the first quarter.
• PACCAR recently announced a quarterly dividend of $0.33 per share, with a 1.4% annualized dividend yield, to be paid on September 4th.
• In its latest earnings report, PACCAR beat the consensus earnings estimate with $1.37 EPS, although revenue was down 15.7% year-over-year.

Virtu Financial LLC bought a new position in PACCAR Inc. (NASDAQ:PCAR - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 17,452 shares of the company's stock, valued at approximately $1,699,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in PACCAR by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company's stock worth $6,133,914,000 after acquiring an additional 1,113,520 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of PACCAR by 9.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company's stock valued at $1,144,578,000 after purchasing an additional 987,805 shares during the period. Northern Trust Corp lifted its stake in shares of PACCAR by 8.5% during the 4th quarter. Northern Trust Corp now owns 7,202,358 shares of the company's stock valued at $749,189,000 after buying an additional 565,967 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in PACCAR by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,006,859 shares of the company's stock worth $624,836,000 after buying an additional 313,292 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its stake in PACCAR by 370.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock worth $557,453,000 after buying an additional 4,219,964 shares in the last quarter. Institutional investors own 64.90% of the company's stock.

PACCAR Trading Down 1.0%

Shares of PCAR stock traded down $0.97 on Thursday, reaching $99.69. 2,212,484 shares of the company's stock were exchanged, compared to its average volume of 2,909,760. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The stock has a market capitalization of $52.35 billion, a PE ratio of 17.07, a P/E/G ratio of 3.97 and a beta of 0.91. The company's fifty day simple moving average is $96.10 and its 200 day simple moving average is $97.35. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. PACCAR's revenue was down 15.7% compared to the same quarter last year. During the same period last year, the company posted $2.13 earnings per share. As a group, analysts forecast that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.3%. The ex-dividend date is Thursday, August 14th. PACCAR's dividend payout ratio (DPR) is 22.60%.

Insider Activity at PACCAR

In related news, CFO Brice J. Poplawski sold 5,000 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $100.94, for a total value of $504,700.00. Following the sale, the chief financial officer owned 468 shares in the company, valued at $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO R Preston Feight sold 39,965 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the sale, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. The trade was a 15.19% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Citigroup increased their target price on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Truist Financial reduced their price objective on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a research report on Wednesday, July 23rd. Argus upgraded shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 target price for the company in a research report on Monday, July 28th. Royal Bank Of Canada reduced their price target on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a report on Thursday, May 8th. Finally, Morgan Stanley downgraded PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective on the stock. in a research note on Wednesday, April 16th. Nine analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.77.

PACCAR 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.