Moors & Cabot Inc. purchased a new stake in PACCAR Inc (NASDAQ:PCAR) in the first quarter, HoldingsChannel reports. The firm purchased 3,200 shares of the company’s stock, valued at approximately $218,000.
A number of other institutional investors and hedge funds have also modified their holdings of PCAR. Truvestments Capital LLC bought a new position in PACCAR during the 1st quarter valued at $42,000. Berman Capital Advisors LLC bought a new position in PACCAR during the 4th quarter valued at $43,000. Lindbrook Capital LLC bought a new position in PACCAR during the 4th quarter valued at $47,000. Quadrant Capital Group LLC boosted its stake in PACCAR by 45.6% during the 1st quarter. Quadrant Capital Group LLC now owns 913 shares of the company’s stock valued at $56,000 after purchasing an additional 286 shares in the last quarter. Finally, American Research & Management Co. bought a new position in PACCAR during the 1st quarter valued at $68,000. 62.37% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Harrie Schippers sold 9,414 shares of PACCAR stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $68.21, for a total value of $642,128.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David J. Danforth sold 4,315 shares of PACCAR stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $70.69, for a total transaction of $305,027.35. Following the completion of the transaction, the vice president now owns 7,286 shares of the company’s stock, valued at approximately $515,047.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,461 shares of company stock worth $1,754,048. Corporate insiders own 2.32% of the company’s stock.
Shares of NASDAQ:PCAR opened at $68.71 on Thursday. The company has a quick ratio of 2.32, a current ratio of 2.49 and a debt-to-equity ratio of 0.74. PACCAR Inc has a 1 year low of $53.43 and a 1 year high of $73.00. The firm has a market cap of $23.96 billion, a P/E ratio of 11.01, a PEG ratio of 1.20 and a beta of 1.24.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 30th. The company reported $1.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.16. PACCAR had a return on equity of 25.94% and a net margin of 9.50%. The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $6 billion. During the same period last year, the company earned $1.45 earnings per share. The business’s revenue was up 17.3% compared to the same quarter last year. Analysts anticipate that PACCAR Inc will post 6.71 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.28 annualized dividend and a yield of 1.86%. PACCAR’s dividend payout ratio (DPR) is currently 20.51%.
Several equities research analysts have recently weighed in on PCAR shares. Credit Suisse Group reissued a “hold” rating and set a $63.00 price objective on shares of PACCAR in a research note on Tuesday, January 22nd. Zacks Investment Research lowered PACCAR from a “buy” rating to a “hold” rating in a research note on Friday, February 1st. ValuEngine raised PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. BidaskClub lowered PACCAR from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Finally, Robert W. Baird raised PACCAR from a “neutral” rating to an “outperform” rating and set a $66.32 price objective for the company in a research note on Thursday, February 7th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. PACCAR has an average rating of “Hold” and an average target price of $66.93.
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.
Further Reading: Strike Price
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