Point72 Italy S.r.l. Buys New Position in PACCAR Inc (NASDAQ:PCAR)

Point72 Italy S.r.l. bought a new position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,792 shares of the company's stock, valued at approximately $1,435,000. PACCAR accounts for about 0.8% of Point72 Italy S.r.l.'s investment portfolio, making the stock its 26th largest position.

A number of other hedge funds have also added to or reduced their stakes in PCAR. Norges Bank acquired a new stake in shares of PACCAR during the 4th quarter worth approximately $526,922,000. Kovitz Investment Group Partners LLC boosted its stake in PACCAR by 370.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock worth $557,453,000 after acquiring an additional 4,219,964 shares in the last quarter. Wellington Management Group LLP grew its holdings in PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock worth $1,747,408,000 after purchasing an additional 3,364,650 shares during the period. Madison Investment Advisors LLC bought a new stake in PACCAR in the fourth quarter valued at $254,651,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock valued at $346,878,000 after purchasing an additional 1,164,692 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now owns 951 shares of the company's stock, valued at approximately $100,929.63. The trade was a 86.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares of the company's stock, valued at approximately $12,150,414.23. This trade represents a 20.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is owned by insiders.

PACCAR Trading Down 1.7%

NASDAQ:PCAR opened at $94.65 on Thursday. PACCAR Inc has a 52 week low of $84.65 and a 52 week high of $118.81. The firm has a 50-day moving average price of $93.79 and a two-hundred day moving average price of $104.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The firm has a market cap of $49.69 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). The business had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The business's revenue was down 16.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.27 earnings per share. On average, equities analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Wednesday, May 14th. PACCAR's payout ratio is 20.00%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PCAR shares. JPMorgan Chase & Co. lowered PACCAR from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $105.00 to $90.00 in a report on Wednesday, April 30th. Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Royal Bank of Canada dropped their price objective on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. StockNews.com upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Finally, Melius Research set a $120.00 target price on shares of PACCAR in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $105.23.

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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