HighTower Advisors LLC cut its stake in PACCAR Inc. (NASDAQ:PCAR – Free Report) by 29.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 47,575 shares of the company’s stock after selling 19,392 shares during the quarter. HighTower Advisors LLC’s holdings in PACCAR were worth $5,210,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ares Financial Consulting LLC acquired a new position in shares of PACCAR during the 4th quarter worth $27,000. Elyxium Wealth LLC acquired a new position in shares of PACCAR during the 4th quarter worth $30,000. Wealth Watch Advisors INC acquired a new position in shares of PACCAR during the 3rd quarter worth $32,000. Camelot Portfolios LLC acquired a new position in shares of PACCAR during the 4th quarter worth $33,000. Finally, AlphaQuest LLC acquired a new position in shares of PACCAR during the 3rd quarter worth $38,000. 64.90% of the stock is owned by institutional investors and hedge funds.
PACCAR Price Performance
Shares of PCAR opened at $112.22 on Friday. PACCAR Inc. has a 12-month low of $90.05 and a 12-month high of $131.88. The business has a 50-day simple moving average of $117.42 and a two-hundred day simple moving average of $116.24. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The stock has a market cap of $59.06 billion, a PE ratio of 23.88, a PEG ratio of 1.04 and a beta of 1.02.
PACCAR Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, May 13th. This is a boost from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s payout ratio is currently 29.79%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on PCAR shares. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Citigroup reissued a “neutral” rating and set a $125.00 price target (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Finally, Morgan Stanley set a $109.00 price target on PACCAR and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $122.00.
Check Out Our Latest Report on PACCAR
PACCAR Company Profile
PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.
In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.
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