Lifeworks Advisors LLC lowered its position in PACCAR Inc. (NASDAQ:PCAR – Free Report) by 8.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,282 shares of the company’s stock after selling 6,129 shares during the quarter. PACCAR accounts for 1.0% of Lifeworks Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. Lifeworks Advisors LLC’s holdings in PACCAR were worth $8,002,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC purchased a new position in shares of PACCAR in the 4th quarter worth about $27,000. MCF Advisors LLC lifted its stake in shares of PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after purchasing an additional 92 shares in the last quarter. Steph & Co. purchased a new stake in shares of PACCAR during the 1st quarter worth about $29,000. Elyxium Wealth LLC purchased a new stake in shares of PACCAR during the 4th quarter worth about $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in PACCAR during the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently commented on PCAR. JPMorgan Chase & Co. reduced their price target on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. BNP Paribas Exane started coverage on shares of PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price objective for the company. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Wells Fargo & Company set a $125.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Finally, Truist Financial upped their price target on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, PACCAR has an average rating of “Hold” and a consensus price target of $122.45.
PACCAR Stock Performance
PACCAR stock opened at $124.57 on Monday. The stock’s 50 day moving average price is $116.38 and its 200 day moving average price is $119.19. The firm has a market capitalization of $65.56 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. PACCAR Inc. has a one year low of $92.25 and a one year high of $131.88.
PACCAR (NASDAQ:PCAR – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter last year, the company earned $1.46 earnings per share. PACCAR’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, sell-side analysts expect that PACCAR Inc. will post 5.58 EPS for the current fiscal year.
PACCAR Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date was Wednesday, May 13th. PACCAR’s payout ratio is currently 29.79%.
PACCAR 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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