Paradiem LLC Sells 4,338 Shares of PACCAR Inc. $PCAR

Paradiem LLC decreased its holdings in PACCAR Inc. (NASDAQ:PCAR) by 3.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 109,870 shares of the company’s stock after selling 4,338 shares during the period. PACCAR makes up about 2.8% of Paradiem LLC’s holdings, making the stock its 18th biggest holding. Paradiem LLC’s holdings in PACCAR were worth $12,690,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in PACCAR by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after purchasing an additional 363,782 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of PACCAR by 18.6% during the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after buying an additional 3,597,283 shares during the last quarter. State Street Corp grew its stake in shares of PACCAR by 0.4% during the fourth quarter. State Street Corp now owns 22,497,197 shares of the company’s stock valued at $2,494,269,000 after buying an additional 94,869 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of PACCAR by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after buying an additional 50,622 shares during the period. Finally, Norges Bank purchased a new position in shares of PACCAR in the fourth quarter worth about $727,745,000. Institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the subject of several analyst reports. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Citigroup reiterated a “neutral” rating and issued a $125.00 price objective (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Evercore set a $139.00 price objective on PACCAR in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. cut their target price on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus price target of $122.45.

PACCAR Price Performance

Shares of PCAR stock opened at $124.57 on Monday. The firm has a market cap of $65.56 billion, a P/E ratio of 26.50, a P/E/G ratio of 1.16 and a beta of 0.97. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $131.88. The business’s 50 day moving average price is $116.38 and its 200-day moving average price is $119.19. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 earnings per share. On average, equities research analysts anticipate that PACCAR Inc. will post 5.58 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were issued a $0.35 dividend. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date was Wednesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.