MetLife Investment Advisors LLC reduced its position in shares of Paccar (NASDAQ:PCAR) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 105,926 shares of the company’s stock after selling 2,865 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Paccar were worth $7,009,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. UBS Group AG raised its stake in Paccar by 7.1% during the 1st quarter. UBS Group AG now owns 869,633 shares of the company’s stock worth $57,544,000 after buying an additional 57,987 shares during the period. Precocity Capital LP acquired a new position in Paccar during the 1st quarter worth approximately $16,543,000. Rampart Investment Management Company LLC raised its stake in Paccar by 573.8% during the 1st quarter. Rampart Investment Management Company LLC now owns 28,953 shares of the company’s stock worth $1,916,000 after buying an additional 24,656 shares during the period. Commonwealth Equity Services LLC raised its stake in Paccar by 4.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 38,298 shares of the company’s stock worth $2,534,000 after buying an additional 1,777 shares during the period. Finally, HRT Financial LLC acquired a new position in Paccar during the 1st quarter worth approximately $663,000. 63.10% of the stock is currently owned by institutional investors and hedge funds.
In other Paccar news, VP C Michael Dozier sold 13,348 shares of the stock in a transaction on Monday, May 14th. The stock was sold at an average price of $63.45, for a total transaction of $846,930.60. Following the completion of the transaction, the vice president now directly owns 8,860 shares of the company’s stock, valued at $562,167. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider T. Kyle Quinn sold 9,964 shares of the stock in a transaction on Monday, May 7th. The shares were sold at an average price of $64.69, for a total value of $644,571.16. Following the transaction, the insider now directly owns 32,000 shares of the company’s stock, valued at $2,070,080. The disclosure for this sale can be found here. 2.64% of the stock is currently owned by corporate insiders.
A number of research analysts recently weighed in on PCAR shares. Deutsche Bank downgraded Paccar from a “hold” rating to a “sell” rating and set a $77.00 price target on the stock. in a research note on Monday, March 19th. UBS Group downgraded Paccar from a “buy” rating to a “neutral” rating and set a $68.00 price target on the stock. in a research note on Wednesday, May 2nd. Morgan Stanley assumed coverage on Paccar in a research note on Friday, March 2nd. They issued an “underweight” rating and a $69.00 price objective for the company. Longbow Research raised Paccar from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, March 6th. Finally, Royal Bank of Canada downgraded Paccar from an “outperform” rating to a “sector perform” rating and set a $75.00 price objective for the company. in a research note on Wednesday, April 25th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $73.57.
Paccar opened at $63.76 on Friday, MarketBeat Ratings reports. The company has a market capitalization of $22.52 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.16 and a beta of 1.21. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.45 and a quick ratio of 2.29. Paccar has a 12-month low of $60.36 and a 12-month high of $79.69.
Paccar (NASDAQ:PCAR) last released its earnings results on Tuesday, April 24th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.14. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.01 billion. Paccar had a return on equity of 21.26% and a net margin of 8.99%. Paccar’s quarterly revenue was up 35.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 earnings per share. analysts anticipate that Paccar will post 5.65 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 5th. Shareholders of record on Tuesday, May 15th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.76%. This is a positive change from Paccar’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 14th. Paccar’s dividend payout ratio is 26.29%.
Paccar Company Profile
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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