PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Simon Quick Advisors LLC

Simon Quick Advisors LLC boosted its holdings in PACCAR Inc (NASDAQ:PCAR) by 24.9% during the first quarter, Holdings Channel reports. The institutional investor owned 4,677 shares of the company’s stock after buying an additional 932 shares during the period. Simon Quick Advisors LLC’s holdings in PACCAR were worth $455,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PCAR. Norges Bank purchased a new position in shares of PACCAR in the 4th quarter worth about $526,922,000. Kovitz Investment Group Partners LLC raised its holdings in shares of PACCAR by 370.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company’s stock worth $557,453,000 after purchasing an additional 4,219,964 shares during the period. Wellington Management Group LLP raised its holdings in shares of PACCAR by 25.0% in the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock worth $1,747,408,000 after purchasing an additional 3,364,650 shares during the period. Madison Investment Advisors LLC purchased a new position in shares of PACCAR in the 4th quarter worth about $254,651,000. Finally, GAMMA Investing LLC raised its holdings in shares of PACCAR by 10,716.5% in the 1st quarter. GAMMA Investing LLC now owns 879,056 shares of the company’s stock worth $85,594,000 after purchasing an additional 870,929 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PACCAR

In related news, Director Pierre R. Breber acquired 5,000 shares of PACCAR stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the transaction, the director now directly owns 13,015 shares of the company’s stock, valued at $1,168,486.70. This trade represents a 62.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Evercore ISI dropped their target price on PACCAR from $127.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, May 19th. Morgan Stanley downgraded PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 target price on the stock. in a report on Wednesday, April 16th. JPMorgan Chase & Co. downgraded PACCAR from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $105.00 to $90.00 in a report on Wednesday, April 30th. Finally, Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $104.14.

PACCAR Price Performance

PCAR stock opened at $91.88 on Friday. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 52-week low of $84.65 and a 52-week high of $118.81. The stock’s 50 day moving average is $92.08 and its two-hundred day moving average is $101.38. The company has a market capitalization of $48.23 billion, a PE ratio of 11.62, a P/E/G ratio of 2.77 and a beta of 0.95.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.12). The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a return on equity of 23.53% and a net margin of 12.36%. PACCAR’s revenue was down 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.27 EPS. Analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were given a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.44%. PACCAR’s payout ratio is 20.00%.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.