United Capital Financial Advisers LLC decreased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 0.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 724,401 shares of the company’s stock after selling 1,043 shares during the quarter. United Capital Financial Advisers LLC owned about 0.21% of PACCAR worth $64,653,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. boosted its holdings in shares of PACCAR by 3.3% during the second quarter. Envestnet Asset Management Inc. now owns 194,343 shares of the company’s stock worth $17,345,000 after purchasing an additional 6,263 shares during the last quarter. Madison Asset Management LLC boosted its holdings in PACCAR by 84.1% in the second quarter. Madison Asset Management LLC now owns 1,143,609 shares of the company’s stock valued at $102,067,000 after acquiring an additional 522,529 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in PACCAR by 1,067.3% in the first quarter. Squarepoint Ops LLC now owns 181,368 shares of the company’s stock valued at $16,853,000 after acquiring an additional 165,830 shares during the last quarter. Deutsche Bank AG boosted its holdings in PACCAR by 10.1% in the second quarter. Deutsche Bank AG now owns 1,504,157 shares of the company’s stock valued at $134,247,000 after acquiring an additional 138,259 shares during the last quarter. Finally, MML Investors Services LLC boosted its holdings in PACCAR by 2.0% in the first quarter. MML Investors Services LLC now owns 7,606 shares of the company’s stock valued at $707,000 after acquiring an additional 147 shares during the last quarter. Institutional investors and hedge funds own 62.58% of the company’s stock.
A number of brokerages recently weighed in on PCAR. Morgan Stanley reduced their target price on PACCAR from $96.00 to $87.00 and set an “equal weight” rating on the stock in a report on Wednesday. Citigroup lifted their target price on PACCAR from $100.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday. Wolfe Research upgraded PACCAR from a “peer perform” rating to an “outperform” rating and set a $96.00 target price on the stock in a report on Tuesday, October 5th. JPMorgan Chase & Co. upgraded PACCAR from a “neutral” rating to an “overweight” rating and set a $112.00 price objective on the stock in a research note on Tuesday, July 13th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on PACCAR from $93.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday, October 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $100.42.
PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.02. PACCAR had a return on equity of 16.52% and a net margin of 7.90%. The business had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same period in the previous year, the company earned $0.43 earnings per share. The company’s revenue for the quarter was up 99.4% compared to the same quarter last year. Analysts predict that PACCAR Inc will post 5.73 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 7th. Stockholders of record on Tuesday, November 16th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Monday, November 15th. PACCAR’s payout ratio is 36.36%.
PACCAR Company Profile
PACCAR, Inc is a global technology company, which engages in the design and manufacture of light, medium, and heavy-duty trucks. It operates through the following segments: Truck, Parts and Financial Services. The Truck segment designs and manufactures heavy, medium, and light duty diesel trucks which are marketed under the Kenworth, Peterbilt, and DAF brands.
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