Great West Life Assurance Co. Can boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 26.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 306,807 shares of the company’s stock after purchasing an additional 63,457 shares during the period. Great West Life Assurance Co. Can’s holdings in PACCAR were worth $20,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of PACCAR by 7.8% in the fourth quarter. BlackRock Inc. now owns 25,297,074 shares of the company’s stock worth $1,445,476,000 after purchasing an additional 1,830,638 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of PACCAR by 7,876.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,701,443 shares of the company’s stock worth $135,000 after purchasing an additional 7,604,885 shares in the last quarter. Norges Bank bought a new position in shares of PACCAR in the fourth quarter worth $333,867,000. Geode Capital Management LLC grew its stake in shares of PACCAR by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 5,068,951 shares of the company’s stock worth $289,187,000 after purchasing an additional 350,337 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of PACCAR by 2.2% in the fourth quarter. Northern Trust Corp now owns 4,005,648 shares of the company’s stock worth $228,882,000 after purchasing an additional 87,800 shares in the last quarter. 61.15% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the company. Longbow Research cut PACCAR from a “buy” rating to a “neutral” rating and set a $71.38 price target for the company. in a research note on Monday, May 6th. Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Tuesday, April 16th. BidaskClub raised PACCAR from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, BMO Capital Markets raised their target price on PACCAR to $70.00 and gave the company a “market perform” rating in a research note on Friday, May 17th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. PACCAR presently has an average rating of “Hold” and an average target price of $66.24.
Shares of PACCAR stock opened at $67.56 on Friday. The stock has a market capitalization of $23.41 billion, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 1.25 and a beta of 1.24. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.49 and a quick ratio of 2.32. PACCAR Inc has a 1 year low of $53.43 and a 1 year high of $73.00.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.16. The firm had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $6 billion. PACCAR had a return on equity of 25.94% and a net margin of 9.50%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.45 EPS. On average, research analysts forecast that PACCAR Inc will post 6.71 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Monday, May 13th. PACCAR’s dividend payout ratio is currently 20.51%.
In related news, VP C Michael Dozier sold 12,638 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $69.17, for a total value of $874,170.46. Following the completion of the sale, the vice president now directly owns 8,401 shares of the company’s stock, valued at approximately $581,097.17. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David J. Danforth sold 4,315 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $70.69, for a total value of $305,027.35. Following the completion of the sale, the vice president now directly owns 7,286 shares of the company’s stock, valued at $515,047.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,301 shares of company stock valued at $1,554,065. Company insiders own 2.32% of the company’s stock.
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PACCAR Company Profile
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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