Heritage Investors Management Corp lowered its position in PACCAR Inc (NASDAQ:PCAR) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 286,932 shares of the company’s stock after selling 7,374 shares during the period. Heritage Investors Management Corp owned about 0.08% of PACCAR worth $19,566,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PCAR. Fulcrum Capital LLC increased its holdings in PACCAR by 5.0% during the 3rd quarter. Fulcrum Capital LLC now owns 21,897 shares of the company’s stock worth $1,493,000 after purchasing an additional 1,038 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in PACCAR by 75.1% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,780,223 shares of the company’s stock worth $121,393,000 after purchasing an additional 763,338 shares in the last quarter. Stuyvesant Capital Management bought a new position in PACCAR during the 3rd quarter worth about $235,000. Janney Montgomery Scott LLC increased its holdings in PACCAR by 37.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 21,290 shares of the company’s stock worth $1,452,000 after purchasing an additional 5,797 shares in the last quarter. Finally, Gulf International Bank UK Ltd increased its holdings in PACCAR by 7.1% during the 3rd quarter. Gulf International Bank UK Ltd now owns 117,640 shares of the company’s stock worth $8,021,000 after purchasing an additional 7,800 shares in the last quarter. Institutional investors and hedge funds own 61.33% of the company’s stock.
A number of research firms have issued reports on PCAR. Zacks Investment Research upgraded PACCAR from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a report on Monday, July 16th. Loop Capital began coverage on PACCAR in a report on Wednesday, October 17th. They set a “hold” rating and a $68.00 target price for the company. BMO Capital Markets cut PACCAR from an “outperform” rating to a “market perform” rating and set a $80.00 price objective for the company. in a report on Wednesday, July 18th. BidaskClub cut PACCAR from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Finally, Morgan Stanley set a $58.00 price objective on PACCAR and gave the company a “sell” rating in a report on Wednesday, October 24th. Five investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the company. PACCAR presently has an average rating of “Hold” and a consensus price target of $68.73.
PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 23rd. The company reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.04. PACCAR had a net margin of 9.73% and a return on equity of 23.52%. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same period last year, the business posted $1.14 EPS. PACCAR’s revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts expect that PACCAR Inc will post 6.16 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Tuesday, November 13th will be paid a $0.28 dividend. The ex-dividend date is Friday, November 9th. This represents a $1.12 annualized dividend and a yield of 1.86%. PACCAR’s dividend payout ratio (DPR) is currently 26.29%.
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PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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