Foster & Motley Inc. reduced its stake in PACCAR Inc. (NASDAQ:PCAR – Free Report) by 13.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,701 shares of the company’s stock after selling 9,761 shares during the quarter. Foster & Motley Inc.’s holdings in PACCAR were worth $7,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Ares Financial Consulting LLC bought a new position in shares of PACCAR in the 4th quarter worth $27,000. MCF Advisors LLC raised its position in shares of PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after buying an additional 92 shares in the last quarter. Steph & Co. bought a new stake in shares of PACCAR during the 1st quarter worth $29,000. Elyxium Wealth LLC bought a new stake in shares of PACCAR during the 4th quarter worth $30,000. Finally, Wealth Watch Advisors INC purchased a new position in PACCAR in the third quarter worth $32,000. 64.90% of the stock is owned by hedge funds and other institutional investors.
PACCAR Price Performance
Shares of NASDAQ:PCAR opened at $121.68 on Friday. The stock has a market cap of $64.04 billion, a PE ratio of 25.89, a PEG ratio of 1.09 and a beta of 0.98. The company’s fifty day moving average is $117.01 and its 200 day moving average is $118.40. PACCAR Inc. has a 52 week low of $92.25 and a 52 week high of $131.88. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52.
PACCAR Increases Dividend
The business 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 is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. PACCAR’s dividend payout ratio is presently 29.79%.
Analysts Set New Price Targets
A number of research firms recently commented on PCAR. Truist Financial increased their target price on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. BNP Paribas Exane assumed coverage on PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Finally, Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $122.00.
Check Out Our Latest Analysis 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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