Mcdaniel Terry & Co. grew its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 241,111 shares of the company’s stock after acquiring an additional 1,537 shares during the quarter. PACCAR comprises 2.5% of Mcdaniel Terry & Co.’s investment portfolio, making the stock its 19th largest position. Mcdaniel Terry & Co.’s holdings in PACCAR were worth $21,519,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. ARK Investment Management LLC bought a new stake in PACCAR in the 1st quarter worth approximately $293,409,000. Morgan Stanley grew its stake in PACCAR by 87.8% in the first quarter. Morgan Stanley now owns 1,245,426 shares of the company’s stock worth $115,726,000 after purchasing an additional 582,411 shares during the period. Madison Asset Management LLC boosted its holdings in PACCAR by 84.1% in the second quarter. Madison Asset Management LLC now owns 1,143,609 shares of the company’s stock worth $102,067,000 after acquiring an additional 522,529 shares in the last quarter. Marathon Asset Management LLP boosted its holdings in PACCAR by 111.7% in the second quarter. Marathon Asset Management LLP now owns 818,559 shares of the company’s stock worth $73,056,000 after acquiring an additional 431,978 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in PACCAR by 32.6% in the first quarter. AQR Capital Management LLC now owns 1,181,618 shares of the company’s stock worth $109,796,000 after acquiring an additional 290,732 shares in the last quarter. Hedge funds and other institutional investors own 62.58% of the company’s stock.
Several equities research analysts have commented on PCAR shares. Vertical Research raised PACCAR from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Tuesday, July 27th. Wolfe Research raised PACCAR from an “underperform” rating to a “peer perform” rating in a report on Thursday, July 15th. Deutsche Bank Aktiengesellschaft lowered their price target on PACCAR from $95.00 to $93.00 and set a “hold” rating on the stock in a report on Wednesday, July 14th. Morgan Stanley lowered their price target on PACCAR from $103.00 to $96.00 and set an “equal weight” rating on the stock in a report on Monday, August 2nd. Finally, JPMorgan Chase & Co. raised PACCAR from a “neutral” rating to an “overweight” rating and set a $112.00 price target on the stock in a report on Tuesday, July 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PACCAR 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 (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. PACCAR had a return on equity of 16.52% and a net margin of 7.90%. The firm had revenue of $5.39 billion during the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter last year, the business posted $0.43 earnings per share. The firm’s revenue was up 99.4% on a year-over-year basis. On average, equities research analysts predict that PACCAR Inc will post 5.73 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 7th. Investors of record on Tuesday, November 16th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Monday, November 15th. PACCAR’s payout ratio is presently 36.36%.
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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