James Investment Research Inc. purchased a new position in PACCAR Inc (NASDAQ:PCAR) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 9,955 shares of the company’s stock, valued at approximately $678,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Truvestments Capital LLC acquired a new stake in PACCAR during the 1st quarter worth about $42,000. Berman Capital Advisors LLC acquired a new stake in PACCAR during the 4th quarter worth about $43,000. Lindbrook Capital LLC acquired a new stake in PACCAR during the 4th quarter worth about $47,000. American Research & Management Co. acquired a new stake in PACCAR during the 1st quarter worth about $68,000. Finally, Synovus Financial Corp boosted its position in PACCAR by 1,116.5% during the 4th quarter. Synovus Financial Corp now owns 1,253 shares of the company’s stock worth $72,000 after acquiring an additional 1,150 shares during the period. 62.69% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on PCAR. Zacks Investment Research upgraded PACCAR from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Tuesday, April 16th. BidaskClub upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Robert W. Baird upgraded PACCAR from a “neutral” rating to an “outperform” rating and set a $66.32 price objective for the company in a research report on Thursday, February 7th. Piper Jaffray Companies raised their price objective on PACCAR to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 5th. They noted that the move was a valuation call. Finally, ValuEngine upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $66.72.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.16. The business had revenue of $6.14 billion during the quarter, compared to analyst estimates of $6 billion. PACCAR had a return on equity of 25.94% and a net margin of 9.50%. The firm’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.45 EPS. Equities analysts expect that PACCAR Inc will post 6.43 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be issued a dividend of $0.32 per share. The ex-dividend date is Monday, May 13th. This represents a $1.28 annualized dividend and a dividend yield of 1.82%. PACCAR’s dividend payout ratio is 20.51%.
In other news, SVP Darrin C. Siver sold 8,088 shares of PACCAR stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $68.81, for a total transaction of $556,535.28. Following the completion of the sale, the senior vice president now directly owns 24,335 shares in the company, valued at approximately $1,674,491.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP David J. Danforth sold 1,549 shares of PACCAR stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $64.49, for a total value of $99,895.01. Following the sale, the vice president now owns 6,571 shares of the company’s stock, valued at $423,763.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,489 shares of company stock valued at $4,062,860. 2.32% of the stock is owned by corporate insiders.
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PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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