Municipal Employees Retirement System of Michigan maintained its position in PACCAR Inc. (NASDAQ:PCAR) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,260 shares of the company’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in PACCAR were worth $757,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PCAR. Victory Capital Management Inc. increased its position in PACCAR by 25,225.9% in the first quarter. Victory Capital Management Inc. now owns 1,669,483 shares of the company’s stock worth $112,190,000 after buying an additional 1,662,891 shares during the last quarter. Norges Bank acquired a new position in PACCAR during the fourth quarter worth approximately $100,030,000. FMR LLC increased its position in PACCAR by 61.9% in the fourth quarter. FMR LLC now owns 4,003,918 shares of the company’s stock worth $255,851,000 after buying an additional 1,531,257 shares during the last quarter. Teachers Advisors LLC increased its position in PACCAR by 61.0% in the fourth quarter. Teachers Advisors LLC now owns 1,330,824 shares of the company’s stock worth $85,040,000 after buying an additional 504,090 shares during the last quarter. Finally, Cpcm LLC acquired a new position in PACCAR during the fourth quarter worth approximately $24,894,000. Institutional investors and hedge funds own 61.75% of the company’s stock.
PACCAR Inc. (PCAR) traded down 0.37% during mid-day trading on Monday, hitting $64.97. The stock had a trading volume of 117,995 shares. PACCAR Inc. has a 12-month low of $48.17 and a 12-month high of $70.12. The company has a 50-day moving average of $64.36 and a 200-day moving average of $66.17. The stock has a market cap of $22.82 billion, a price-to-earnings ratio of 16.06 and a beta of 1.14.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 25th. The company reported $0.88 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.88. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.85 billion. PACCAR had a return on equity of 19.13% and a net margin of 8.56%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, analysts anticipate that PACCAR Inc. will post $3.69 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Shareholders of record on Friday, May 19th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.53%. This is an increase from PACCAR’s previous quarterly dividend of $0.24. The ex-dividend date was Wednesday, May 17th. PACCAR’s dividend payout ratio is 24.69%.
PCAR has been the topic of a number of recent analyst reports. OTR Global upgraded PACCAR to a “positive” rating in a report on Tuesday, April 18th. Bank of America Corporation downgraded PACCAR from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $78.00 to $70.00 in a report on Thursday, May 11th. Deutsche Bank AG increased their price objective on PACCAR from $71.00 to $73.00 and gave the company a “hold” rating in a report on Thursday, April 6th. Credit Suisse Group set a $68.00 target price on PACCAR and gave the company a “hold” rating in a research report on Wednesday, April 12th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $77.00 target price on shares of PACCAR in a research report on Friday, March 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $69.19.
In other PACCAR news, VP Alma Lily Ley sold 904 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $67.39, for a total value of $60,920.56. Following the completion of the sale, the vice president now directly owns 1,679 shares in the company, valued at $113,147.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.64% of the company’s stock.
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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