Voya Investment Management LLC Raises Position in PACCAR Inc. $PCAR

Key Points

• Voya Investment Management LLC increased its stake in PACCAR Inc. by 10.1% during the first quarter, now owning 174,249 shares valued at approximately $16.97 million.
• PACCAR recently reported earnings of $1.37 per share, exceeding estimates and indicating a 15.7% revenue decline compared to the previous year, totaling $6.96 billion.
• The company announced a quarterly dividend of $0.33 per share, with a dividend yield of 1.3% and a payout ratio of 22.60%.

Voya Investment Management LLC lifted its stake in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 174,249 shares of the company's stock after purchasing an additional 16,039 shares during the period. Voya Investment Management LLC's holdings in PACCAR were worth $16,967,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. E Fund Management Hong Kong Co. Ltd. lifted its holdings in PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after acquiring an additional 240 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in PACCAR during the first quarter worth $29,000. Sunbelt Securities Inc. lifted its stake in PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after purchasing an additional 350 shares in the last quarter. Bayforest Capital Ltd lifted its stake in PACCAR by 234.2% during the first quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after purchasing an additional 274 shares in the last quarter. Finally, Accent Capital Management LLC acquired a new position in PACCAR during the first quarter worth $40,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Performance

Shares of PCAR stock opened at $102.17 on Tuesday. The stock's 50-day moving average is $98.59 and its two-hundred day moving average is $95.99. The firm has a market cap of $53.65 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 4.12 and a beta of 0.94. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 3.02.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the firm earned $2.13 earnings per share. The business's quarterly revenue was down 15.7% compared to the same quarter last year. Analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.3%. PACCAR's dividend payout ratio is 22.60%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PCAR shares. Vertical Research raised PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Argus raised PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective on the stock in a research report on Monday, July 28th. Citigroup upped their price objective on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Evercore ISI set a $114.00 price objective on PACCAR and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Finally, Truist Financial cut their price objective on PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $107.68.

Insider Activity

In other news, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the sale, the chief financial officer owned 468 shares in the company, valued at approximately $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 accessible through this link. Also, CEO R Preston Feight sold 39,965 shares of the stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Company 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.

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