Choreo LLC Takes $470,000 Position in PACCAR Inc (NASDAQ:PCAR)

Choreo LLC acquired a new position in shares of PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,646 shares of the company’s stock, valued at approximately $470,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Lord Abbett & CO. LLC purchased a new position in shares of PACCAR in the 3rd quarter valued at approximately $33,668,000. International Assets Investment Management LLC raised its holdings in shares of PACCAR by 8,388.6% in the fourth quarter. International Assets Investment Management LLC now owns 376,132 shares of the company’s stock worth $36,729,000 after buying an additional 371,701 shares during the last quarter. Clarius Group LLC lifted its stake in shares of PACCAR by 52.7% during the fourth quarter. Clarius Group LLC now owns 1,012,755 shares of the company’s stock worth $98,896,000 after buying an additional 349,727 shares during the period. Invesco Ltd. grew its holdings in shares of PACCAR by 9.9% during the third quarter. Invesco Ltd. now owns 3,645,267 shares of the company’s stock valued at $309,921,000 after buying an additional 328,347 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of PACCAR by 6.0% in the 3rd quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock valued at $471,079,000 after acquiring an additional 316,001 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity

In other news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other PACCAR news, CFO Harrie Schippers sold 32,797 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the sale, the chief financial officer now directly owns 103,547 shares in the company, valued at approximately $10,984,265.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The disclosure for this sale can be found here. Company insiders own 2.02% of the company’s stock.

PACCAR Trading Up 0.1 %

Shares of PCAR stock opened at $106.46 on Friday. PACCAR Inc has a 1-year low of $68.40 and a 1-year high of $125.50. The company has a market cap of $55.79 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.60 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.69 and a quick ratio of 2.21. The stock has a 50 day simple moving average of $116.54 and a 200-day simple moving average of $102.39.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.07. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $2.25 earnings per share. On average, equities research analysts expect that PACCAR Inc will post 8.23 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. This is a boost from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio is presently 11.20%.

Analyst Ratings Changes

Several analysts have weighed in on PCAR shares. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the company from $104.00 to $136.00 in a research note on Friday, March 15th. Morgan Stanley started coverage on PACCAR in a research report on Monday, January 8th. They issued an “overweight” rating and a $125.00 target price on the stock. The Goldman Sachs Group raised their price target on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Royal Bank of Canada assumed coverage on shares of PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price objective on the stock. Finally, Bank of America raised shares of PACCAR from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $84.00 to $97.00 in a report on Friday, January 19th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.62.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.