Integrated Advisors Network LLC raised its position in shares of PACCAR Inc. (NASDAQ:PCAR – Free Report) by 304.5% during the first quarter, HoldingsChannel.com reports. The fund owned 18,993 shares of the company’s stock after buying an additional 14,298 shares during the quarter. Integrated Advisors Network LLC’s holdings in PACCAR were worth $2,194,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Ares Financial Consulting LLC acquired a new position in shares of PACCAR in the 4th quarter valued at about $27,000. MCF Advisors LLC boosted 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 purchasing an additional 92 shares in the last quarter. Steph & Co. acquired a new stake in PACCAR during the first quarter worth approximately $29,000. Elyxium Wealth LLC bought a new stake in PACCAR in the fourth quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC bought a new stake in PACCAR in the third quarter worth approximately $32,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on PCAR. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Truist Financial lifted their price objective 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. Evercore set a $139.00 target price on shares of PACCAR in a research report on Monday, May 11th. BNP Paribas Exane assumed coverage on shares of PACCAR in a report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target for the company. Finally, Wells Fargo & Company set a $125.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $122.45.
PACCAR Price Performance
Shares of NASDAQ:PCAR opened at $124.46 on Wednesday. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. The stock has a market cap of $65.50 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 1.17 and a beta of 0.97. The stock’s fifty day simple moving average is $116.27 and its two-hundred day simple moving average is $118.95. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $131.88.
PACCAR (NASDAQ:PCAR – Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $1.15 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 in the prior year, the company posted $1.46 earnings per share. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, analysts forecast that PACCAR Inc. will post 5.58 EPS for the current fiscal year.
PACCAR Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were paid a $0.35 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date was Wednesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is 29.79%.
About PACCAR
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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