Patriot Wealth Management Inc. purchased a new position in PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 75,363 shares of the company’s stock, valued at approximately $5,357,000.
Other large investors have also added to or reduced their stakes in the company. FUKOKU MUTUAL LIFE INSURANCE Co lifted its holdings in shares of PACCAR by 18.8% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock valued at $125,000 after purchasing an additional 300 shares during the last quarter. Sun Life Financial INC lifted its stake in PACCAR by 19,884.6% in the 2nd quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock worth $172,000 after acquiring an additional 2,585 shares in the last quarter. Institute for Wealth Management LLC. purchased a new stake in PACCAR in the 2nd quarter worth about $201,000. Cetera Investment Advisers purchased a new stake in PACCAR in the 2nd quarter worth about $204,000. Finally, Hartland & Co. LLC purchased a new stake in PACCAR in the 3rd quarter worth about $206,000. 62.16% of the stock is owned by institutional investors.
Several brokerages have weighed in on PCAR. Seaport Global Securities reaffirmed a “neutral” rating on shares of PACCAR in a research report on Tuesday, January 16th. Wells Fargo & Co increased their price objective on PACCAR from $75.00 to $80.00 and gave the company a “market perform” rating in a report on Thursday, January 18th. Stifel Nicolaus reissued a “hold” rating and set a $77.00 price objective on shares of PACCAR in a report on Tuesday. Buckingham Research increased their price objective on PACCAR from $73.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Royal Bank of Canada restated a “buy” rating and set a $82.00 target price on shares of PACCAR in a research note on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. PACCAR has an average rating of “Hold” and an average price target of $76.37.
In related news, VP C Michael Dozier sold 3,618 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $69.02, for a total transaction of $249,714.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.64% of the company’s stock.
PACCAR Inc (NASDAQ PCAR) opened at $74.72 on Friday. The company has a current ratio of 1.08, a quick ratio of 2.40 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $26,230.21 and a P/E ratio of 17.50. PACCAR Inc has a 52-week low of $61.93 and a 52-week high of $79.69.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 30th. The company reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.06. PACCAR had a return on equity of 19.65% and a net margin of 8.61%. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter last year, the company earned $0.82 EPS. PACCAR’s revenue was up 36.0% on a year-over-year basis. analysts forecast that PACCAR Inc will post 4.8 earnings per share for the current fiscal year.
The firm also recently declared a special dividend, which was paid on Thursday, January 4th. Investors of record on Thursday, December 14th were issued a dividend of $1.20 per share. The ex-dividend date was Wednesday, December 13th. This represents a yield of 1.4%. PACCAR’s dividend payout ratio is 21.05%.
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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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