Kestra Advisory Services LLC boosted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 12.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,464 shares of the company’s stock after purchasing an additional 508 shares during the period. Kestra Advisory Services LLC’s holdings in PACCAR were worth $415,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Fort Pitt Capital Group LLC bought a new position in shares of PACCAR during the 4th quarter worth approximately $25,000. Wealthcare Advisory Partners LLC bought a new position in shares of PACCAR during the first quarter valued at $28,000. Sittner & Nelson LLC acquired a new stake in shares of PACCAR in the 4th quarter valued at $30,000. Signet Investment Advisory Group Inc. bought a new stake in shares of PACCAR in the 4th quarter worth about $34,000. Finally, Paradigm Strategies in Wealth Management LLC acquired a new stake in shares of PACCAR during the 1st quarter worth about $37,000. 63.84% of the stock is currently owned by institutional investors.
PCAR has been the topic of several research analyst reports. BMO Capital Markets upped their price objective on shares of PACCAR from $90.00 to $95.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 4th. They noted that the move was a valuation call. Evercore ISI raised their price target on PACCAR from $111.00 to $115.00 in a report on Wednesday, May 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on PACCAR from $91.00 to $98.00 and gave the stock a “hold” rating in a research note on Wednesday, April 28th. Credit Suisse Group raised their target price on PACCAR from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, April 28th. Finally, Morgan Stanley upped their price target on shares of PACCAR from $102.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Monday, April 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $99.71.
PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 27th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.27 by $0.08. PACCAR had a net margin of 7.26% and a return on equity of 13.72%. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.45 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities research analysts anticipate that PACCAR Inc will post 5.79 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 2nd. Shareholders of record on Wednesday, May 12th were paid a $0.34 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.32. The ex-dividend date was Tuesday, May 11th. This represents a $1.36 annualized dividend and a yield of 1.48%. PACCAR’s dividend payout ratio is presently 36.36%.
In other news, CEO R Preston Feight sold 4,770 shares of the business’s stock in a transaction dated Friday, May 14th. The stock was sold at an average price of $94.06, for a total transaction of $448,666.20. Following the completion of the transaction, the chief executive officer now directly owns 52,460 shares in the company, valued at approximately $4,934,387.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.05% of the stock is currently owned by company insiders.
PACCAR Company Profile
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, 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.
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