Rafferty Asset Management LLC Grows Position in PACCAR Inc (NASDAQ:PCAR)

Rafferty Asset Management LLC grew its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 171,010 shares of the company's stock after acquiring an additional 8,396 shares during the quarter. Rafferty Asset Management LLC's holdings in PACCAR were worth $17,788,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted 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 worth $346,878,000 after purchasing an additional 1,164,692 shares during the period. Brookstone Capital Management lifted its holdings in shares of PACCAR by 632.7% during the fourth quarter. Brookstone Capital Management now owns 16,142 shares of the company's stock worth $1,679,000 after purchasing an additional 13,939 shares during the period. AdvisorNet Financial Inc lifted its holdings in shares of PACCAR by 223.4% during the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company's stock worth $59,000 after purchasing an additional 391 shares during the period. Retireful LLC acquired a new stake in shares of PACCAR during the fourth quarter worth about $716,000. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of PACCAR during the fourth quarter worth about $1,096,000. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Price Performance

Shares of PCAR traded up $0.30 during trading hours on Monday, hitting $97.01. 2,191,164 shares of the stock were exchanged, compared to its average volume of 2,778,168. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a 12-month low of $84.65 and a 12-month high of $118.81. The company has a market cap of $50.93 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The stock's 50-day moving average price is $93.34 and its two-hundred day moving average price is $103.86.

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 the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The firm had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. During the same quarter in the previous year, the firm posted $2.27 earnings per share. The firm's revenue for the quarter was down 16.0% compared to the same quarter last year. Research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Wednesday, May 14th. PACCAR's payout ratio is 20.00%.

Analysts Set New Price Targets

A number of research firms recently commented on PCAR. Melius Research set a $120.00 target price on PACCAR in a report on Tuesday, March 18th. UBS Group cut PACCAR from a "neutral" rating to a "sell" rating and reduced their price target for the company from $108.00 to $78.00 in a research report on Monday, April 7th. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Truist Financial reduced their price target on PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. cut PACCAR from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $105.00 to $90.00 in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $104.14.

Insiders Place Their Bets

In other PACCAR news, Director Pierre R. Breber purchased 5,000 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $89.78 per share, with a total value of $448,900.00. Following the purchase, the director now directly owns 13,015 shares in the company, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the company's stock in a transaction 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 completion of the transaction, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32% 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.