Gulf International Bank UK Ltd lessened its position in PACCAR Inc (NASDAQ:PCAR) by 0.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 71,426 shares of the company’s stock after selling 200 shares during the period. Gulf International Bank UK Ltd’s holdings in PACCAR were worth $6,374,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Ameritas Investment Company LLC acquired a new stake in shares of PACCAR in the first quarter valued at about $25,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of PACCAR in the first quarter valued at about $28,000. First Horizon Advisors Inc. lifted its stake in shares of PACCAR by 82.2% in the first quarter. First Horizon Advisors Inc. now owns 388 shares of the company’s stock valued at $35,000 after purchasing an additional 175 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of PACCAR in the second quarter valued at about $58,000. Finally, Penserra Capital Management LLC lifted its stake in shares of PACCAR by 18.8% in the first quarter. Penserra Capital Management LLC now owns 859 shares of the company’s stock valued at $79,000 after purchasing an additional 136 shares during the period. Hedge funds and other institutional investors own 62.58% of the company’s stock.
Several equities analysts have weighed in on PCAR shares. Morgan Stanley dropped their target price on shares of PACCAR from $103.00 to $96.00 and set an “equal weight” rating for the company in a report on Monday, August 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PACCAR from $95.00 to $93.00 and set a “hold” rating for the company in a report on Wednesday, July 14th. Wolfe Research upgraded shares of PACCAR from an “underperform” rating to a “peer perform” rating in a report on Thursday, July 15th. Vertical Research upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Tuesday, July 27th. Finally, JPMorgan Chase & Co. upgraded shares of PACCAR from a “neutral” rating to an “overweight” rating and set a $112.00 price target for the company in a report on Tuesday, July 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $102.08.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 27th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.02. The firm had revenue of $5.39 billion during the quarter, compared to analyst estimates of $5.50 billion. PACCAR had a net margin of 7.90% and a return on equity of 16.52%. The firm’s revenue for the quarter was up 99.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. As a group, equities research analysts forecast that PACCAR Inc will post 5.73 EPS for the current fiscal year.
The company also recently declared 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. The ex-dividend date of this dividend is Monday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 1.62%. PACCAR’s dividend payout ratio is currently 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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