Laurion Capital Management LP Sells 2,700 Shares of PACCAR Inc. (PCAR)
Laurion Capital Management LP decreased its holdings in PACCAR Inc. (NASDAQ:PCAR) by 24.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,400 shares of the company’s stock after selling 2,700 shares during the quarter. Laurion Capital Management LP’s holdings in PACCAR were worth $555,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in PCAR. IFP Advisors Inc lifted its position in PACCAR by 91.1% in the 2nd quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock valued at $123,000 after acquiring an additional 890 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of PACCAR by 29.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock worth $143,000 after buying an additional 500 shares in the last quarter. Perkins Coie Trust Co lifted its position in shares of PACCAR by 102.8% during the 2nd quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock worth $151,000 after buying an additional 1,157 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of PACCAR during the 1st quarter worth approximately $175,000. Finally, Bluestein R H & Co. bought a new position in shares of PACCAR during the 1st quarter worth approximately $202,000. 62.12% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on the stock. UBS AG raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $75.00 in a research report on Tuesday, June 6th. BidaskClub raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Tuesday. Finally, Stifel Nicolaus reissued a “buy” rating and set a $72.00 target price (up previously from $64.00) on shares of PACCAR in a research report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $72.05.
In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total transaction of $189,141.54. Following the completion of the transaction, the insider now owns 20,800 shares in the company, valued at $1,412,112. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.64% of the stock is owned by company insiders.
Shares of PACCAR Inc. (NASDAQ PCAR) opened at 72.69 on Thursday. The stock’s 50 day moving average is $66.39 and its 200-day moving average is $66.14. PACCAR Inc. has a 12-month low of $53.38 and a 12-month high of $73.29. The company has a market capitalization of $25.54 billion, a P/E ratio of 19.46 and a beta of 1.15.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.07. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.29 billion. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. PACCAR’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted $1.06 earnings per share. Analysts anticipate that PACCAR Inc. will post $4.00 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, November 13th. This represents a $1.00 annualized dividend and a yield of 1.38%. PACCAR’s dividend payout ratio (DPR) is currently 26.74%.
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.
Receive News & Stock Ratings for PACCAR Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR Inc. and related stocks with our FREE daily email newsletter.