Algert Global LLC acquired a new position in PACCAR Inc (NASDAQ:PCAR) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,082 shares of the company’s stock, valued at approximately $687,000.
Other large investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its position in PACCAR by 7.8% during the fourth quarter. BlackRock Inc. now owns 25,297,074 shares of the company’s stock worth $1,445,476,000 after buying an additional 1,830,638 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in PACCAR by 7,876.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,701,443 shares of the company’s stock worth $135,000 after buying an additional 7,604,885 shares in the last quarter. Norges Bank purchased a new position in PACCAR during the fourth quarter worth approximately $333,867,000. Geode Capital Management LLC lifted its position in PACCAR by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 5,068,951 shares of the company’s stock worth $289,187,000 after buying an additional 350,337 shares in the last quarter. Finally, Northern Trust Corp lifted its position in PACCAR by 2.2% during the fourth quarter. Northern Trust Corp now owns 4,005,648 shares of the company’s stock worth $228,882,000 after buying an additional 87,800 shares in the last quarter. Hedge funds and other institutional investors own 63.36% of the company’s stock.
Shares of PCAR stock traded up $0.41 on Wednesday, hitting $67.51. The stock had a trading volume of 1,255,461 shares, compared to its average volume of 1,976,278. PACCAR Inc has a 1 year low of $53.43 and a 1 year high of $73.00. The company has a market capitalization of $23.14 billion, a PE ratio of 10.82, a P/E/G ratio of 1.20 and a beta of 1.24. The company has a current ratio of 2.49, a quick ratio of 2.32 and a debt-to-equity ratio of 0.74.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 30th. The company reported $1.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.16. PACCAR had a return on equity of 25.94% and a net margin of 9.50%. The firm had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same period in the previous year, the firm posted $1.45 EPS. PACCAR’s revenue for the quarter was up 17.3% on a year-over-year basis. Research analysts predict that PACCAR Inc will post 6.71 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be paid a dividend of $0.32 per share. The ex-dividend date is Monday, May 13th. This represents a $1.28 annualized dividend and a yield of 1.90%. PACCAR’s payout ratio is 20.51%.
A number of brokerages recently commented on PCAR. Zacks Investment Research downgraded PACCAR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. BidaskClub downgraded PACCAR from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Longbow Research downgraded PACCAR from a “buy” rating to a “neutral” rating and set a $71.38 target price on the stock. in a research report on Monday, May 6th. Finally, Robert W. Baird upgraded PACCAR from a “neutral” rating to an “outperform” rating and set a $66.32 target price on the stock in a research report on Thursday, February 7th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $66.24.
In other news, VP David J. Danforth sold 4,315 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $70.69, for a total transaction of $305,027.35. Following the completion of the transaction, the vice president now directly owns 7,286 shares of the company’s stock, valued at approximately $515,047.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP C Michael Dozier sold 12,638 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $69.17, for a total value of $874,170.46. Following the completion of the sale, the vice president now directly owns 8,401 shares of the company’s stock, valued at $581,097.17. The disclosure for this sale can be found here. Insiders have sold a total of 22,301 shares of company stock valued at $1,554,065 over the last three months. 2.32% of the stock is currently owned by insiders.
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PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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