ING Groep NV boosted its position in shares of Paccar Inc. (NASDAQ:PCAR) by 58.6% during the second quarter, Holdings Channel reports. The institutional investor owned 10,319 shares of the company’s stock after buying an additional 3,813 shares during the period. ING Groep NV’s holdings in Paccar were worth $535,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the stock. NN Investment Partners Holdings N.V. bought a new position in Paccar during the first quarter worth approximately $111,000. Meeder Asset Management Inc. bought a new position in Paccar during the first quarter worth approximately $224,000. BlueMountain Capital Management LLC increased its position in Paccar by 796.3% in the first quarter. BlueMountain Capital Management LLC now owns 4,338 shares of the company’s stock worth $237,000 after buying an additional 3,854 shares during the period. Evergreen Capital Management LLC bought a new position in Paccar during the second quarter worth approximately $281,000. Finally, Advisor Partners LLC bought a new position in Paccar during the first quarter worth approximately $302,000. 62.23% of the stock is currently owned by institutional investors.
Paccar Inc. (NASDAQ:PCAR) traded down 1.22% during mid-day trading on Friday, reaching $59.03. 1,563,971 shares of the company’s stock traded hands. The stock has a market capitalization of $20.69 billion, a PE ratio of 31.33 and a beta of 1.51. The firm’s 50-day moving average price is $58.45 and its 200 day moving average price is $56.14. Paccar Inc. has a 12 month low of $43.46 and a 12 month high of $60.86.
Paccar (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 26th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $1.02 by $0.04. The firm earned $4.12 billion during the quarter, compared to analysts’ expectations of $4.17 billion. Paccar had a return on equity of 21.92% and a net margin of 3.71%. Paccar’s quarterly revenue was down 14.0% compared to the same quarter last year. During the same period last year, the business earned $1.26 earnings per share. Equities research analysts predict that Paccar Inc. will post $3.98 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.63%. Paccar’s dividend payout ratio (DPR) is presently 51.34%.
A number of research analysts recently commented on PCAR shares. Bank of America Corp. reaffirmed a “buy” rating on shares of Paccar in a research report on Thursday, June 16th. JPMorgan Chase & Co. downgraded shares of Paccar from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $58.00 to $47.00 in a research report on Monday, June 27th. Robert W. Baird reaffirmed a “buy” rating on shares of Paccar in a research report on Tuesday, June 28th. Zacks Investment Research downgraded shares of Paccar from a “hold” rating to a “sell” rating in a research report on Monday, July 11th. Finally, Longbow Research cut shares of Paccar from a “neutral” rating to an “underperform” rating and set a $44.00 price target for the company. in a research note on Tuesday, July 19th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $56.13.
Paccar Company Profile
PACCAR Inc (PACCAR) is a global technology company engaged in the design, manufacture and customer support of trucks. The Company operates in three segments: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to customers and dealers.
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