United Capital Financial Advisers LLC lifted its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 0.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 661,851 shares of the company’s stock after purchasing an additional 509 shares during the quarter. United Capital Financial Advisers LLC owned 0.19% of PACCAR worth $47,428,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Destination Wealth Management bought a new stake in shares of PACCAR during the 2nd quarter worth $25,000. Cable Hill Partners LLC bought a new stake in shares of PACCAR during the 1st quarter worth $29,000. Advisory Services Network LLC lifted its position in shares of PACCAR by 149.4% during the 2nd quarter. Advisory Services Network LLC now owns 434 shares of the company’s stock worth $31,000 after buying an additional 260 shares during the last quarter. Enterprise Financial Services Corp lifted its position in shares of PACCAR by 76.8% during the 2nd quarter. Enterprise Financial Services Corp now owns 488 shares of the company’s stock worth $35,000 after buying an additional 212 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new stake in shares of PACCAR during the 1st quarter worth $41,000. 63.77% of the stock is currently owned by institutional investors.
Several brokerages recently weighed in on PCAR. Morgan Stanley upped their price objective on PACCAR from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 24th. Zacks Investment Research downgraded PACCAR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Loop Capital downgraded PACCAR from a “hold” rating to a “sell” rating and dropped their target price for the company from $70.00 to $62.00 in a research report on Tuesday, July 2nd. BMO Capital Markets increased their target price on PACCAR to $70.00 and gave the company a “market perform” rating in a research report on Friday, May 17th. Finally, ValuEngine downgraded PACCAR from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. PACCAR presently has an average rating of “Hold” and an average target price of $68.89.
PACCAR stock traded down $1.13 during trading hours on Thursday, hitting $71.19. The stock had a trading volume of 1,889,410 shares, compared to its average volume of 1,827,117. The company has a quick ratio of 2.26, a current ratio of 2.43 and a debt-to-equity ratio of 0.70. The stock has a market cap of $24.41 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 1.24 and a beta of 1.28. PACCAR Inc has a one year low of $53.43 and a one year high of $73.00. The business’s 50 day simple moving average is $66.68 and its 200-day simple moving average is $68.75.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.04). The company had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.21 billion. PACCAR had a net margin of 9.43% and a return on equity of 25.99%. The company’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.59 EPS. Research analysts anticipate that PACCAR Inc will post 6.77 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 12th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.80%. PACCAR’s payout ratio is 20.51%.
In other news, VP David J. Danforth sold 848 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $71.66, for a total value of $60,767.68. Following the completion of the sale, the vice president now owns 4,958 shares of the company’s stock, valued at $355,290.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.32% of the company’s stock.
PACCAR Company Profile
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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