Gamco Investors INC. ET AL trimmed its stake in PACCAR Inc (NASDAQ:PCAR) by 8.6% during the second quarter, HoldingsChannel.com reports. The fund owned 411,012 shares of the company’s stock after selling 38,550 shares during the period. Gamco Investors INC. ET AL’s holdings in PACCAR were worth $29,453,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Brandywine Oak Private Wealth LLC grew its holdings in shares of PACCAR by 1.8% during the first quarter. Brandywine Oak Private Wealth LLC now owns 8,315 shares of the company’s stock valued at $566,000 after buying an additional 148 shares in the last quarter. Securian Asset Management Inc lifted its position in shares of PACCAR by 0.5% in the first quarter. Securian Asset Management Inc now owns 35,455 shares of the company’s stock worth $2,416,000 after buying an additional 163 shares during the last quarter. Hartford Investment Management Co. lifted its position in shares of PACCAR by 0.4% in the second quarter. Hartford Investment Management Co. now owns 46,237 shares of the company’s stock worth $3,313,000 after buying an additional 168 shares during the last quarter. O Shares Investment Advisers LLC lifted its position in shares of PACCAR by 1.5% in the first quarter. O Shares Investment Advisers LLC now owns 12,960 shares of the company’s stock worth $883,000 after buying an additional 192 shares during the last quarter. Finally, Mason Street Advisors LLC lifted its position in shares of PACCAR by 0.4% in the first quarter. Mason Street Advisors LLC now owns 49,464 shares of the company’s stock worth $3,370,000 after buying an additional 199 shares during the last quarter. Institutional investors and hedge funds own 63.79% of the company’s stock.
Shares of PCAR traded up $0.44 on Monday, hitting $64.92. The company’s stock had a trading volume of 16,529 shares, compared to its average volume of 1,914,177. The company has a market capitalization of $22.06 billion, a PE ratio of 10.33, a PEG ratio of 1.12 and a beta of 1.25. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.43 and a quick ratio of 2.26. PACCAR Inc has a fifty-two week low of $53.43 and a fifty-two week high of $73.00. The company has a 50 day moving average price of $69.25 and a 200 day moving average price of $68.91.
PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 23rd. The company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.04). The business had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.21 billion. PACCAR had a return on equity of 25.99% and a net margin of 9.43%. The firm’s revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.59 earnings per share. On average, equities analysts forecast that PACCAR Inc will post 6.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 14th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Tuesday, August 13th. PACCAR’s payout ratio is currently 20.51%.
Several equities analysts recently weighed in on PCAR shares. JPMorgan Chase & Co. raised PACCAR from an “underweight” rating to a “neutral” rating and cut their price objective for the stock from $87.00 to $66.00 in a research report on Wednesday, July 24th. BidaskClub cut PACCAR from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley boosted their price objective on PACCAR from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 24th. BMO Capital Markets boosted their price objective on PACCAR to $70.00 and gave the stock a “market perform” rating in a research report on Friday, May 17th. Finally, Longbow Research lowered PACCAR from a “buy” rating to a “neutral” rating and set a $71.38 price target on the stock. in a research note on Monday, May 6th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $68.89.
In other PACCAR news, VP David J. Danforth sold 848 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $71.66, for a total transaction of $60,767.68. Following the transaction, the vice president now owns 4,958 shares of the company’s stock, valued at approximately $355,290.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Darrin C. Siver sold 5,067 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $70.10, for a total value of $355,196.70. Following the transaction, the insider now directly owns 23,193 shares in the company, valued at approximately $1,625,829.30. The disclosure for this sale can be found here. 2.32% of the stock is owned by insiders.
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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