New York State Teachers Retirement System decreased its position in shares of Paccar (NASDAQ:PCAR) by 0.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 535,919 shares of the company’s stock after selling 1,577 shares during the period. New York State Teachers Retirement System owned about 0.15% of Paccar worth $35,462,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in PCAR. DnB Asset Management AS grew its holdings in Paccar by 2.0% during the 4th quarter. DnB Asset Management AS now owns 46,243 shares of the company’s stock worth $3,287,000 after acquiring an additional 900 shares in the last quarter. Tradewinds Capital Management LLC boosted its holdings in shares of Paccar by 5.3% in the 1st quarter. Tradewinds Capital Management LLC now owns 18,063 shares of the company’s stock valued at $1,195,000 after buying an additional 908 shares during the period. Heritage Investors Management Corp boosted its holdings in shares of Paccar by 0.3% in the 4th quarter. Heritage Investors Management Corp now owns 285,340 shares of the company’s stock valued at $20,282,000 after buying an additional 920 shares during the period. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Paccar by 12.3% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 8,788 shares of the company’s stock valued at $582,000 after buying an additional 962 shares during the period. Finally, New Mexico Educational Retirement Board boosted its holdings in shares of Paccar by 3.4% in the 4th quarter. New Mexico Educational Retirement Board now owns 33,803 shares of the company’s stock valued at $2,403,000 after buying an additional 1,100 shares during the period. 64.33% of the stock is currently owned by hedge funds and other institutional investors.
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Several research analysts have recently commented on the stock. Robert W. Baird decreased their price target on shares of Paccar from $80.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, April 25th. BMO Capital Markets cut their price objective on shares of Paccar from $85.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 25th. They noted that the move was a valuation call. ValuEngine downgraded shares of Paccar from a “buy” rating to a “hold” rating in a research report on Tuesday, May 1st. Wells Fargo set a $70.00 price objective on shares of Paccar and gave the company a “market perform” rating in a research report on Wednesday, April 25th. Finally, Bank of America downgraded shares of Paccar from a “buy” rating to a “neutral” rating and set a $70.00 price objective on the stock. in a research report on Wednesday, April 25th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. Paccar has a consensus rating of “Hold” and a consensus price target of $74.47.
NASDAQ PCAR opened at $63.80 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.02 and a current ratio of 1.24. Paccar has a 12 month low of $60.36 and a 12 month high of $79.69. The company has a market capitalization of $22,463.06, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 1.16 and a beta of 1.24.
Paccar (NASDAQ:PCAR) last released its earnings results on Tuesday, April 24th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.14. Paccar had a net margin of 8.99% and a return on equity of 21.26%. The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the firm earned $0.88 EPS. The business’s revenue for the quarter was up 35.2% on a year-over-year basis. research analysts expect that Paccar will post 5.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 5th. Investors of record on Tuesday, May 15th will be issued a $0.28 dividend. This is an increase from Paccar’s previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Monday, May 14th. Paccar’s payout ratio is presently 23.47%.
In other Paccar news, VP Marco A. Davila bought 570 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were acquired at an average cost of $69.05 per share, for a total transaction of $39,358.50. Following the acquisition, the vice president now directly owns 7,536 shares of the company’s stock, valued at $520,360.80. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 2.64% of the stock is owned by insiders.
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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