First Citizens Bank & Trust Co. reduced its position in PACCAR Inc (NASDAQ:PCAR) by 32.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,501 shares of the company’s stock after selling 4,664 shares during the period. First Citizens Bank & Trust Co.’s holdings in PACCAR were worth $675,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DnB Asset Management AS increased its position in shares of PACCAR by 2.0% during the 4th quarter. DnB Asset Management AS now owns 46,243 shares of the company’s stock valued at $3,287,000 after purchasing an additional 900 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of PACCAR by 3.0% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 763,018 shares of the company’s stock valued at $55,197,000 after purchasing an additional 22,184 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of PACCAR during the 3rd quarter valued at $1,144,000. Garde Capital Inc. purchased a new stake in PACCAR in the 3rd quarter worth about $897,000. Finally, Belpointe Asset Management LLC purchased a new stake in PACCAR in the 3rd quarter worth about $279,000. 62.16% of the stock is owned by institutional investors and hedge funds.
Shares of PACCAR Inc (NASDAQ PCAR) traded down $2.12 during midday trading on Friday, hitting $72.60. The company had a trading volume of 1,900,234 shares, compared to its average volume of 2,396,064. The stock has a market cap of $25,540.68, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. The company has a current ratio of 1.08, a quick ratio of 2.40 and a debt-to-equity ratio of 0.75. PACCAR Inc has a 52 week low of $61.93 and a 52 week high of $79.69.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $1.18 EPS for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.06. The business had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $4.87 billion. PACCAR had a return on equity of 19.65% and a net margin of 8.61%. The business’s quarterly revenue was up 36.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 EPS. sell-side analysts anticipate that PACCAR Inc will post 5.22 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 13th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.38%. PACCAR’s dividend payout ratio (DPR) is presently 21.05%.
In other news, VP C Michael Dozier sold 3,618 shares of the business’s stock in a transaction that occurred 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 SEC, which is available through the SEC website. 2.64% of the stock is currently owned by insiders.
PCAR has been the subject of several recent research reports. Deutsche Bank reissued a “hold” rating and issued a $78.00 price objective (up previously from $75.00) on shares of PACCAR in a report on Monday, October 9th. Piper Jaffray Companies set a $67.00 price objective on PACCAR and gave the stock a “hold” rating in a report on Sunday, December 10th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Tuesday, January 2nd. ValuEngine lowered PACCAR from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Finally, Zacks Investment Research downgraded PACCAR from a “buy” rating to a “hold” rating in a research note on Monday, December 11th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. PACCAR has a consensus rating of “Hold” and a consensus target price of $76.68.
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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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