Panagora Asset Management Inc. reduced its holdings in PACCAR Inc (NASDAQ:PCAR – Get Rating) by 29.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,930 shares of the company’s stock after selling 5,301 shares during the period. Panagora Asset Management Inc.’s holdings in PACCAR were worth $1,141,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Laird Norton Trust Company LLC increased its position in PACCAR by 785.5% in the 3rd quarter. Laird Norton Trust Company LLC now owns 42,999 shares of the company’s stock worth $3,393,000 after buying an additional 38,143 shares during the period. D.A. Davidson & CO. increased its position in PACCAR by 11.4% in the 4th quarter. D.A. Davidson & CO. now owns 110,497 shares of the company’s stock worth $9,752,000 after buying an additional 11,303 shares during the period. Savant Capital LLC bought a new stake in shares of PACCAR during the fourth quarter valued at approximately $203,000. U.S. Capital Wealth Advisors LLC increased its position in shares of PACCAR by 54.7% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 12,626 shares of the company’s stock valued at $1,114,000 after purchasing an additional 4,467 shares during the period. Finally, Trustcore Financial Services LLC increased its position in shares of PACCAR by 2.3% during the fourth quarter. Trustcore Financial Services LLC now owns 9,025 shares of the company’s stock valued at $797,000 after purchasing an additional 200 shares during the period. 63.56% of the stock is currently owned by institutional investors.
PCAR has been the topic of a number of analyst reports. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and lowered their price target for the company from $100.00 to $85.00 in a research report on Tuesday, April 5th. Raymond James upped their price target on PACCAR from $105.00 to $108.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 26th. Citigroup cut PACCAR from a “buy” rating to a “neutral” rating and set a $90.00 price target on the stock. in a research report on Tuesday, April 12th. Morgan Stanley lowered their price target on PACCAR from $98.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Monday, April 18th. Finally, Credit Suisse Group upped their price target on PACCAR from $109.00 to $114.00 and gave the company an “outperform” rating in a research report on Wednesday, January 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Buy” and a consensus price target of $98.25.
PACCAR (NASDAQ:PCAR – Get Rating) last posted its quarterly earnings data on Tuesday, April 26th. The company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.21. PACCAR had a return on equity of 17.20% and a net margin of 8.21%. The firm had revenue of $6.11 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same quarter last year, the company earned $1.35 EPS. The company’s revenue was up 12.8% on a year-over-year basis. As a group, analysts expect that PACCAR Inc will post 7.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Wednesday, May 11th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.60%. The ex-dividend date is Tuesday, May 10th. PACCAR’s payout ratio is presently 23.94%.
PACCAR Company Profile (Get Rating)
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.
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