Kestra Advisory Services LLC boosted its position in shares of PACCAR Inc. (NASDAQ:PCAR – Free Report) by 15.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,073 shares of the company’s stock after buying an additional 3,968 shares during the quarter. Kestra Advisory Services LLC’s holdings in PACCAR were worth $3,358,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the business. Brighton Jones LLC lifted its position in shares of PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after purchasing an additional 290 shares during the period. Focus Partners Wealth boosted its position in shares of PACCAR by 15.4% in the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after purchasing an additional 1,812 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in PACCAR by 2.3% in the second quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock worth $22,886,000 after acquiring an additional 5,327 shares in the last quarter. Ieq Capital LLC boosted its stake in PACCAR by 11.5% in the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after purchasing an additional 3,858 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of PACCAR during the second quarter worth $81,000. Institutional investors own 64.90% of the company’s stock.
Analyst Upgrades and Downgrades
PCAR has been the topic of several recent research reports. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Wells Fargo & Company set a $125.00 target price on PACCAR and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Truist Financial raised their price target on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Finally, Citigroup reissued a “neutral” rating and set a $125.00 target price (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $124.18.
PACCAR Trading Down 0.4%
NASDAQ PCAR opened at $126.20 on Friday. 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. The firm has a market cap of $66.42 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.17 and a beta of 0.97. The firm has a 50 day simple moving average of $117.32 and a 200-day simple moving average of $119.60.
PACCAR (NASDAQ:PCAR – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. The company had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm’s revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.46 EPS. Equities research analysts anticipate that PACCAR Inc. will post 5.62 EPS for the current fiscal year.
PACCAR Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. PACCAR’s dividend payout ratio (DPR) 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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