Norris Perne & French LLP MI grew its stake in shares of PACCAR Inc (NASDAQ:PCAR – Free Report) by 40.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 219,302 shares of the company’s stock after acquiring an additional 62,803 shares during the period. PACCAR accounts for 1.6% of Norris Perne & French LLP MI’s investment portfolio, making the stock its 25th biggest holding. Norris Perne & French LLP MI’s holdings in PACCAR were worth $22,812,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of PCAR. Quarry LP purchased a new position in PACCAR in the second quarter valued at about $26,000. Grove Bank & Trust increased its stake in shares of PACCAR by 28.4% during the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares during the last quarter. Sander Capital Advisors Inc. bought a new position in shares of PACCAR during the 3rd quarter valued at $50,000. Ashton Thomas Securities LLC bought a new position in PACCAR during the third quarter valued at about $52,000. Finally, AdvisorNet Financial Inc lifted its position in shares of PACCAR by 223.4% in the fourth quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock worth $59,000 after buying an additional 391 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upped their price target on shares of PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Morgan Stanley cut their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR has an average rating of “Moderate Buy” and a consensus target price of $121.32.
PACCAR Stock Performance
PACCAR stock opened at $112.51 on Friday. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.03. The stock has a fifty day moving average price of $110.47 and a two-hundred day moving average price of $104.49. The firm has a market capitalization of $58.99 billion, a P/E ratio of 14.22, a P/E/G ratio of 2.83 and a beta of 0.93.
PACCAR (NASDAQ:PCAR – Get Free Report) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, analysts anticipate that PACCAR Inc will post 7.71 EPS for the current fiscal year.
PACCAR Increases Dividend
The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is a positive change from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is 15.17%.
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.
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