Bessemer Group Inc. trimmed its stake in PACCAR Inc (NASDAQ:PCAR) by 13.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,957 shares of the company’s stock after selling 303 shares during the quarter. Bessemer Group Inc.’s holdings in PACCAR were worth $140,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in PACCAR by 32.9% during the first quarter. Parallel Advisors LLC now owns 1,717 shares of the company’s stock worth $117,000 after buying an additional 425 shares during the period. New York State Common Retirement Fund grew its stake in PACCAR by 9.2% during the first quarter. New York State Common Retirement Fund now owns 963,868 shares of the company’s stock worth $65,678,000 after buying an additional 80,968 shares during the period. Kennedy Capital Management Inc. grew its stake in PACCAR by 3.7% during the first quarter. Kennedy Capital Management Inc. now owns 71,757 shares of the company’s stock worth $4,890,000 after buying an additional 2,584 shares during the period. Meiji Yasuda Life Insurance Co grew its stake in PACCAR by 11.8% during the first quarter. Meiji Yasuda Life Insurance Co now owns 7,551 shares of the company’s stock worth $515,000 after buying an additional 798 shares during the period. Finally, Lido Advisors LLC grew its stake in PACCAR by 48.0% during the first quarter. Lido Advisors LLC now owns 18,369 shares of the company’s stock worth $1,251,000 after buying an additional 5,958 shares during the period. Hedge funds and other institutional investors own 63.60% of the company’s stock.
Several research firms have issued reports on PCAR. Loop Capital downgraded shares of PACCAR from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $70.00 to $62.00 in a research note on Tuesday, July 2nd. ValuEngine downgraded shares of PACCAR from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Evercore ISI restated an “in-line” rating and issued a $76.00 target price (up from $73.00) on shares of PACCAR in a research note on Friday, May 31st. Morgan Stanley upped their target price on shares of PACCAR from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Wednesday, July 24th. Finally, Credit Suisse Group upped their target price on shares of PACCAR from $74.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. PACCAR has a consensus rating of “Hold” and a consensus target price of $68.89.
PCAR opened at $63.70 on Friday. The stock has a market capitalization of $22.44 billion, a PE ratio of 10.21, a P/E/G ratio of 1.14 and a beta of 1.25. The firm’s fifty day moving average price is $69.37 and its 200 day moving average price is $68.93. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.43 and a quick ratio of 2.26. PACCAR Inc has a 12-month low of $53.43 and a 12-month high of $73.00.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.04). The company had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.21 billion. PACCAR had a net margin of 9.43% and a return on equity of 25.99%. The company’s revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.59 earnings per share. On average, equities research analysts forecast that PACCAR Inc will post 6.77 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 14th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.01%. PACCAR’s dividend payout ratio (DPR) is 20.51%.
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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