PACCAR Inc. (NASDAQ:PCAR) Position Boosted by Allworth Financial LP

Allworth Financial LP lifted its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 13.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,968 shares of the company’s stock after purchasing an additional 354 shares during the period. Allworth Financial LP’s holdings in PACCAR were worth $275,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. raised its stake in PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock worth $27,000 after acquiring an additional 240 shares during the period. Meeder Asset Management Inc. raised its stake in PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after acquiring an additional 193 shares during the period. Alpine Bank Wealth Management acquired a new stake in PACCAR during the first quarter worth about $29,000. Sunbelt Securities Inc. raised its stake in PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock worth $37,000 after acquiring an additional 350 shares during the period. Finally, JFS Wealth Advisors LLC raised its stake in PACCAR by 64.9% during the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company’s stock worth $43,000 after acquiring an additional 174 shares during the period. Institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Melius Research set a $120.00 price objective on shares of PACCAR in a research note on Tuesday, March 18th. Royal Bank Of Canada dropped their price target on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 8th. Morgan Stanley lowered shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target on the stock. in a research note on Wednesday, April 16th. Evercore ISI dropped their price target on shares of PACCAR from $127.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, May 19th. Finally, UBS Group lowered shares of PACCAR from a “neutral” rating to a “sell” rating and dropped their price target for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $104.59.

Insiders Place Their Bets

In other PACCAR news, Director Pierre R. Breber bought 5,000 shares of PACCAR stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the acquisition, the director owned 13,015 shares of the company’s stock, valued at approximately $1,168,486.70. This represents a 62.38% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.02% of the company’s stock.

PACCAR Price Performance

NASDAQ PCAR opened at $95.13 on Wednesday. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81. 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 firm has a market capitalization of $49.94 billion, a PE ratio of 14.41, a P/E/G ratio of 3.55 and a beta of 0.94. The company’s 50 day simple moving average is $94.46 and its 200 day simple moving average is $98.74.

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

PACCAR Announces Dividend

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

PACCAR 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.