Asset Management One Co. Ltd. cut its position in shares of PACCAR Inc (NASDAQ:PCAR) by 9.2% during the first quarter, Holdings Channel reports. The institutional investor owned 540,394 shares of the company’s stock after selling 54,997 shares during the period. Asset Management One Co. Ltd.’s holdings in PACCAR were worth $36,326,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in PCAR. State Street Corp increased its stake in PACCAR by 4.0% in the fourth quarter. State Street Corp now owns 15,006,366 shares of the company’s stock worth $958,912,000 after buying an additional 572,759 shares in the last quarter. FMR LLC increased its stake 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 in the last quarter. Victory Capital Management Inc. increased its stake 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 in the last quarter. Norges Bank bought a new stake in PACCAR during the fourth quarter worth about $100,030,000. Finally, Teachers Advisors LLC increased its stake 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 in the last quarter. 60.60% of the stock is currently owned by institutional investors and hedge funds.
Shares of PACCAR Inc (NASDAQ:PCAR) traded up 3.84% during midday trading on Tuesday, hitting $64.71. The company had a trading volume of 2,039,625 shares. The company’s 50-day moving average price is $64.71 and its 200 day moving average price is $66.06. PACCAR Inc has a 12-month low of $48.17 and a 12-month high of $70.12. The company has a market capitalization of $22.73 billion, a price-to-earnings ratio of 15.99 and a beta of 1.26.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 25th. The company reported $0.88 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.88. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.85 billion. PACCAR had a net margin of 7.32% and a return on equity of 17.96%. PACCAR’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the firm earned $0.99 EPS. Equities research analysts predict that PACCAR Inc will post $3.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Friday, May 19th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, May 17th. This is an increase from PACCAR’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.60%. PACCAR’s dividend payout ratio (DPR) is 64.86%.
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A number of equities analysts have weighed in on PCAR shares. Bank of America Corp downgraded PACCAR from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $78.00 to $70.00 in a research report on Thursday, May 11th. Seaport Global Securities reissued a “buy” rating and set a $80.00 price target on shares of PACCAR in a research report on Thursday, April 6th. Jefferies Group LLC reissued a “buy” rating and set a $77.00 price target on shares of PACCAR in a research report on Friday, March 17th. Deutsche Bank AG boosted their price target on PACCAR from $71.00 to $73.00 and gave the stock a “hold” rating in a research report on Thursday, April 6th. Finally, Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. PACCAR currently has a consensus rating of “Hold” and a consensus target price of $68.53.
In related news, VP Alma Lily Ley sold 904 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $67.39, for a total value of $60,920.56. Following the completion of the transaction, the vice president now directly owns 1,679 shares of the company’s stock, valued at approximately $113,147.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.62% of the stock is currently owned by company insiders.
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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