PACCAR Inc. (PCAR) Shares Bought by First Allied Advisory Services Inc.
First Allied Advisory Services Inc. raised its holdings in PACCAR Inc. (NASDAQ:PCAR) by 16.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,049 shares of the company’s stock after purchasing an additional 1,304 shares during the quarter. First Allied Advisory Services Inc.’s holdings in PACCAR were worth $597,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of PCAR. PDT Partners LLC lifted its stake in shares of PACCAR by 26.7% in the 2nd quarter. PDT Partners LLC now owns 133,000 shares of the company’s stock valued at $8,783,000 after acquiring an additional 28,000 shares during the last quarter. Balyasny Asset Management LLC lifted its stake in shares of PACCAR by 165.9% in the 2nd quarter. Balyasny Asset Management LLC now owns 56,627 shares of the company’s stock valued at $3,740,000 after acquiring an additional 35,332 shares during the last quarter. QS Investors LLC lifted its stake in shares of PACCAR by 6.8% in the 2nd quarter. QS Investors LLC now owns 9,902 shares of the company’s stock valued at $654,000 after acquiring an additional 629 shares during the last quarter. HighVista Strategies LLC bought a new position in shares of PACCAR in the 2nd quarter valued at $304,000. Finally, Brandywine Global Investment Management LLC lifted its stake in shares of PACCAR by 1.2% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 319,736 shares of the company’s stock valued at $21,116,000 after acquiring an additional 3,720 shares during the last quarter. 62.13% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on PCAR shares. Goldman Sachs Group, Inc. (The) upgraded PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Thursday, June 15th. UBS AG reiterated a “buy” rating and issued a $76.00 price target (up from $75.00) on shares of PACCAR in a research note on Wednesday, July 26th. Citigroup Inc. increased their price target on PACCAR from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $72.00 price target (up from $64.00) on shares of PACCAR in a research note on Wednesday, July 26th. Finally, Zacks Investment Research upgraded PACCAR from a “sell” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. PACCAR has an average rating of “Hold” and a consensus price target of $74.17.
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Shares of PACCAR Inc. (PCAR) opened at 74.36 on Thursday. The firm’s 50-day moving average price is $68.13 and its 200-day moving average price is $66.49. The firm has a market capitalization of $26.13 billion, a P/E ratio of 19.90 and a beta of 1.18. PACCAR Inc. has a one year low of $53.38 and a one year high of $74.66.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.99 by $0.07. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.29 billion. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.06 earnings per share. On average, equities analysts forecast that PACCAR Inc. will post $4.00 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Monday, November 13th. PACCAR’s dividend payout ratio (DPR) is 26.74%.
In related news, insider T. Kyle Quinn sold 2,786 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total value of $189,141.54. Following the completion of the transaction, the insider now directly owns 20,800 shares of the company’s stock, valued at $1,412,112. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.64% of the company’s stock.
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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