Sigma Planning Corp Purchases 9,944 Shares of PACCAR Inc. $PCAR

Sigma Planning Corp increased its position in PACCAR Inc. (NASDAQ:PCAR) by 501.0% in the 1st quarter, HoldingsChannel reports. The fund owned 11,929 shares of the company’s stock after purchasing an additional 9,944 shares during the period. Sigma Planning Corp’s holdings in PACCAR were worth $1,378,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Ares Financial Consulting LLC purchased a new position in shares of PACCAR in the fourth quarter worth about $27,000. Steph & Co. bought a new stake in shares of PACCAR in the first quarter valued at approximately $29,000. MCF Advisors LLC lifted its stake in shares of PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after buying an additional 92 shares in the last quarter. Elyxium Wealth LLC bought a new position in PACCAR in the 4th quarter worth approximately $30,000. Finally, Camelot Portfolios LLC bought a new position in PACCAR in the 4th quarter worth approximately $33,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Trading Down 0.4%

Shares of PCAR opened at $126.20 on Friday. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $131.88. The company has a market capitalization of $66.42 billion, a P/E ratio of 26.85, a P/E/G ratio of 1.17 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The firm’s 50 day simple moving average is $117.32 and its 200 day simple moving average is $119.60.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.46 EPS. Sell-side analysts forecast that PACCAR Inc. will post 5.62 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a $0.35 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 annualized dividend and a yield of 1.1%. PACCAR’s payout ratio is 29.79%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PCAR. Morgan Stanley boosted their target price on shares of PACCAR from $109.00 to $113.00 and gave the company an “equal weight” rating in a report on Friday. Citigroup reiterated a “neutral” rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Evercore set a $139.00 price objective on PACCAR in a report on Monday, May 11th. Truist Financial raised their target price on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company set a $125.00 target price on PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, PACCAR has a consensus rating of “Hold” and an average price target of $124.18.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.