CrestPoint Capital Management LLC cut its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 53.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,900 shares of the company’s stock after selling 11,300 shares during the quarter. CrestPoint Capital Management LLC’s holdings in PACCAR were worth $704,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in PCAR. CIBC World Markets Inc. lifted its stake in PACCAR by 2.2% during the second quarter. CIBC World Markets Inc. now owns 5,989 shares of the company’s stock worth $396,000 after purchasing an additional 131 shares during the last quarter. Rainier Group Investment Advisory LLC lifted its stake in PACCAR by 2.6% during the second quarter. Rainier Group Investment Advisory LLC now owns 5,943 shares of the company’s stock worth $392,000 after purchasing an additional 153 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in PACCAR by 0.5% during the second quarter. Mutual of America Capital Management LLC now owns 43,153 shares of the company’s stock worth $2,850,000 after purchasing an additional 227 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in PACCAR by 8.3% during the second quarter. Oppenheimer & Co. Inc. now owns 3,360 shares of the company’s stock worth $222,000 after purchasing an additional 257 shares during the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co lifted its stake in PACCAR by 18.8% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock worth $125,000 after purchasing an additional 300 shares during the last quarter. 62.26% of the stock is owned by institutional investors and hedge funds.
Shares of PACCAR Inc (PCAR) traded down $0.43 during trading hours on Wednesday, hitting $75.97. The stock had a trading volume of 3,014,600 shares, compared to its average volume of 2,482,900. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.56 and a quick ratio of 2.40. PACCAR Inc has a twelve month low of $61.93 and a twelve month high of $76.80. The stock has a market capitalization of $26,710.00, a P/E ratio of 19.48, a P/E/G ratio of 1.62 and a beta of 1.22.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.06. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the prior year, the business earned $0.98 earnings per share. The business’s revenue was up 19.7% on a year-over-year basis. sell-side analysts forecast that PACCAR Inc will post 4.19 EPS for the current year.
The firm also recently announced a special dividend, which was paid on Thursday, January 4th. Investors of record on Thursday, December 14th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a yield of 1.4%. PACCAR’s dividend payout ratio (DPR) is presently 25.64%.
In other news, insider Mark C. Pigott sold 98,956 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $71.37, for a total value of $7,062,489.72. Following the transaction, the insider now directly owns 2,985,401 shares in the company, valued at approximately $213,068,069.37. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP C Michael Dozier sold 3,618 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $69.02, for a total value of $249,714.36. The disclosure for this sale can be found here. Insiders have sold 106,598 shares of company stock worth $7,597,908 over the last quarter. 2.64% of the stock is currently owned by company insiders.
Several equities research analysts recently weighed in on PCAR shares. Zacks Investment Research upgraded PACCAR from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Tuesday, September 26th. Royal Bank of Canada restated a “buy” rating and set a $77.00 target price on shares of PACCAR in a research note on Tuesday, October 3rd. UBS Group restated a “buy” rating and set a $82.00 target price (up previously from $76.00) on shares of PACCAR in a research note on Tuesday, October 3rd. JPMorgan Chase & Co. upgraded PACCAR from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $83.00 in a research note on Wednesday, October 4th. Finally, Wells Fargo & Co boosted their target price on PACCAR from $74.00 to $77.00 and gave the stock a “market perform” rating in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company’s stock. PACCAR presently has a consensus rating of “Hold” and an average price target of $75.32.
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PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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