Cerity Partners LLC Has $7.97 Million Stake in PACCAR Inc. (NASDAQ:PCAR)

Cerity Partners LLC lifted its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 39.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 81,883 shares of the company’s stock after buying an additional 23,359 shares during the quarter. Cerity Partners LLC’s holdings in PACCAR were worth $7,973,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of PCAR. Norges Bank acquired a new stake in shares of PACCAR during the 4th quarter worth approximately $526,922,000. Kovitz Investment Group Partners LLC grew its position in shares of PACCAR by 370.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company’s stock worth $557,453,000 after buying an additional 4,219,964 shares during the period. Wellington Management Group LLP grew its position in shares of PACCAR by 25.0% during the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock worth $1,747,408,000 after buying an additional 3,364,650 shares during the period. GAMMA Investing LLC grew its position in shares of PACCAR by 10,716.5% during the 1st quarter. GAMMA Investing LLC now owns 879,056 shares of the company’s stock worth $85,594,000 after buying an additional 870,929 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of PACCAR by 162.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 943,062 shares of the company’s stock worth $98,097,000 after buying an additional 583,441 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

PCAR opened at $95.13 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 2.19. The company has a market capitalization of $49.94 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 3.55 and a beta of 0.94. The firm’s fifty day moving average price is $94.46 and its two-hundred day moving average price is $98.74. PACCAR Inc. has a 1 year low of $84.65 and a 1 year high of $118.81.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). The firm had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.13 billion. PACCAR had a return on equity of 20.79% and a net margin of 10.73%. PACCAR’s revenue was down 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.27 earnings per share. As a group, analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR’s dividend payout ratio (DPR) is currently 20.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Citigroup increased their target price on PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, June 24th. Morgan Stanley downgraded shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target for the company. in a research report on Wednesday, April 16th. Truist Financial reduced their price target on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. UBS Group downgraded shares of PACCAR from a “neutral” rating to a “sell” rating and reduced their price target for the company from $108.00 to $78.00 in a research report on Monday, April 7th. Finally, Melius Research set a $120.00 price target on shares of PACCAR in a research report on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $104.59.

Insider Buying and Selling at PACCAR

In related news, Director Pierre R. Breber purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average cost of $89.78 per share, with a total value of $448,900.00. Following the acquisition, the director owned 13,015 shares of the company’s stock, valued at $1,168,486.70. This represents a 62.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.02% of the company’s stock.

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.