Tudor Investment Corp ET AL boosted its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 78.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,261 shares of the company’s stock after purchasing an additional 4,519 shares during the period. Tudor Investment Corp ET AL’s holdings in PACCAR were worth $678,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in PACCAR by 381.5% during the second quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock worth $169,932,000 after purchasing an additional 2,038,761 shares during the period. Delta Lloyd Asset Management N.V. purchased a new stake in shares of PACCAR in the 2nd quarter valued at approximately $3,038,000. Point72 Europe London LLP purchased a new stake in shares of PACCAR in the 1st quarter valued at approximately $1,137,000. Brighton Jones LLC purchased a new stake in shares of PACCAR in the 2nd quarter valued at approximately $3,338,000. Finally, BlueMountain Capital Management LLC purchased a new stake in shares of PACCAR in the 2nd quarter valued at approximately $2,771,000. 62.13% of the stock is currently owned by institutional investors.
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PACCAR Inc. (NASDAQ PCAR) opened at 72.71 on Tuesday. The stock has a 50 day moving average of $70.23 and a 200 day moving average of $66.77. The firm has a market cap of $25.55 billion, a PE ratio of 19.46 and a beta of 1.17. PACCAR Inc. has a one year low of $53.38 and a one year high of $74.79.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the company earned $1.06 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that PACCAR Inc. will post $4.02 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Monday, November 13th. PACCAR’s payout ratio is currently 26.74%.
In other news, insider T. Kyle Quinn sold 2,786 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total transaction of $189,141.54. Following the completion of the sale, the insider now owns 20,800 shares of the company’s stock, valued at $1,412,112. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.64% of the stock is currently owned by company insiders.
A number of research firms have recently issued reports on PCAR. Wells Fargo & Company boosted their price target on shares of PACCAR from $74.00 to $77.00 and gave the company a “market perform” rating in a research note on Friday, October 6th. J P Morgan Chase & Co raised shares of PACCAR from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $83.00 in a research note on Wednesday, October 4th. Deutsche Bank AG reissued a “hold” rating and issued a $78.00 price target (up from $75.00) on shares of PACCAR in a research note on Monday, October 9th. ValuEngine downgraded shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, Citigroup Inc. boosted their price target on shares of PACCAR from $78.00 to $81.00 and gave the company a “buy” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the stock. PACCAR currently has a consensus rating of “Hold” and a consensus target price of $75.42.
PACCAR Company Profile
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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