Gulf International Bank UK Ltd lowered its position in PACCAR Inc (NASDAQ:PCAR) by 0.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 71,426 shares of the company’s stock after selling 200 shares during the period. Gulf International Bank UK Ltd’s holdings in PACCAR were worth $6,374,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Empirical Finance LLC boosted its holdings in PACCAR by 17.5% in the second quarter. Empirical Finance LLC now owns 4,111 shares of the company’s stock worth $367,000 after acquiring an additional 612 shares in the last quarter. Ethic Inc. lifted its holdings in shares of PACCAR by 27.2% in the second quarter. Ethic Inc. now owns 14,700 shares of the company’s stock valued at $1,312,000 after purchasing an additional 3,145 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of PACCAR by 19.2% in the second quarter. Citigroup Inc. now owns 513,893 shares of the company’s stock valued at $45,865,000 after purchasing an additional 82,786 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of PACCAR by 13.5% in the second quarter. Rafferty Asset Management LLC now owns 49,295 shares of the company’s stock valued at $4,400,000 after purchasing an additional 5,879 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its holdings in shares of PACCAR by 3.4% in the second quarter. WINTON GROUP Ltd now owns 18,265 shares of the company’s stock valued at $1,630,000 after purchasing an additional 599 shares in the last quarter. Institutional investors and hedge funds own 62.58% of the company’s stock.
A number of analysts recently commented on PCAR shares. Vertical Research upgraded PACCAR from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Tuesday, July 27th. JPMorgan Chase & Co. raised PACCAR from a “neutral” rating to an “overweight” rating and set a $112.00 target price for the company in a research report on Tuesday, July 13th. Morgan Stanley decreased their target price on PACCAR from $103.00 to $96.00 and set an “equal weight” rating for the company in a research report on Monday, August 2nd. Wolfe Research raised PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 15th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on PACCAR from $95.00 to $93.00 and set a “hold” rating for the company in a research report on Wednesday, July 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $102.08.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 27th. The company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.02. The business had revenue of $5.39 billion during the quarter, compared to analyst estimates of $5.50 billion. PACCAR had a net margin of 7.90% and a return on equity of 16.52%. The company’s revenue was up 99.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. On average, sell-side analysts anticipate that PACCAR Inc will post 5.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 7th. Investors of record on Tuesday, November 16th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Monday, November 15th. PACCAR’s payout ratio is 36.36%.
PACCAR Company Profile
PACCAR, Inc is a global technology company, which engages in the design and manufacture of light, medium, and heavy-duty trucks. It operates through the following segments: Truck, Parts and Financial Services. The Truck segment designs and manufactures heavy, medium, and light duty diesel trucks which are marketed under the Kenworth, Peterbilt, and DAF brands.
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