Vise Technologies Inc. acquired a new position in PACCAR Inc (NASDAQ:PCAR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,392 shares of the company's stock, valued at approximately $353,000.
Several other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. grew its position in PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after acquiring an additional 193 shares during the last quarter. Golden State Wealth Management LLC bought a new position in PACCAR during the 4th quarter worth approximately $37,000. Kestra Investment Management LLC purchased a new position in PACCAR in the 4th quarter worth approximately $37,000. OFI Invest Asset Management bought a new stake in PACCAR in the fourth quarter valued at approximately $43,000. Finally, Atala Financial Inc bought a new position in shares of PACCAR in the fourth quarter worth approximately $43,000. 64.90% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
PCAR has been the subject of several analyst reports. JPMorgan Chase & Co. cut shares of PACCAR from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $105.00 to $90.00 in a research report on Wednesday, April 30th. Citigroup lowered their price target on PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Melius Research set a $120.00 price objective on PACCAR in a research report on Tuesday, March 18th. Royal Bank of Canada decreased their target price on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Finally, UBS Group cut shares of PACCAR from a "neutral" rating to a "sell" rating and cut their price target for the company from $108.00 to $78.00 in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $104.14.
Check Out Our Latest Stock Report on PACCAR
Insider Buying and Selling
In other news, Director Pierre R. Breber acquired 5,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average cost of $89.78 per share, with a total value of $448,900.00. Following the transaction, the director now owns 13,015 shares of the company's stock, valued at $1,168,486.70. This trade represents a 62.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.02% of the stock is currently owned by company insiders.
PACCAR Stock Down 1.0%
PCAR traded down $0.92 during trading on Wednesday, reaching $94.05. The stock had a trading volume of 1,558,304 shares, compared to its average volume of 2,771,029. PACCAR Inc has a one year low of $84.65 and a one year high of $118.81. The company has a market capitalization of $49.37 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 2.77 and a beta of 0.96. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock's 50 day moving average is $92.56 and its two-hundred day moving average is $103.10.
PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The business had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. During the same period last year, the business earned $2.27 earnings per share. The company's revenue was down 16.0% on a year-over-year basis. As a group, analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.
PACCAR Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be given a $0.33 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.40%. PACCAR's dividend payout ratio is currently 20.00%.
About PACCAR
(
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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