Tradewinds Capital Management LLC raised its position in shares of Paccar Inc. (NASDAQ:PCAR) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,576 shares of the company’s stock after buying an additional 420 shares during the period. Tradewinds Capital Management LLC’s holdings in Paccar were worth $912,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in PCAR. Virginia Retirement System acquired a new stake in shares of Paccar during the first quarter worth approximately $313,000. NN Investment Partners Holdings N.V. acquired a new stake in shares of Paccar during the first quarter worth approximately $111,000. AMF Pensionsforsakring AB increased its stake in shares of Paccar by 624.1% in the first quarter. AMF Pensionsforsakring AB now owns 34,900 shares of the company’s stock worth $1,909,000 after buying an additional 30,080 shares in the last quarter. Credit Agricole S A increased its stake in shares of Paccar by 3.8% in the first quarter. Credit Agricole S A now owns 323,754 shares of the company’s stock worth $17,705,000 after buying an additional 11,711 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Paccar by 32.7% in the first quarter. Canada Pension Plan Investment Board now owns 61,216 shares of the company’s stock worth $3,348,000 after buying an additional 15,100 shares in the last quarter. 62.25% of the stock is owned by institutional investors and hedge funds.
Shares of Paccar Inc. (NASDAQ:PCAR) traded up 0.14% during mid-day trading on Monday, reaching $56.90. The company had a trading volume of 670,650 shares. The company has a market capitalization of $19.95 billion, a PE ratio of 30.20 and a beta of 1.51. Paccar Inc. has a 52-week low of $43.46 and a 52-week high of $60.86. The company’s 50-day moving average price is $58.09 and its 200-day moving average price is $56.25.
Paccar (NASDAQ:PCAR) last released its earnings results on Tuesday, July 26th. The company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.04. Paccar had a net margin of 3.71% and a return on equity of 21.92%. The business earned $4.12 billion during the quarter, compared to analysts’ expectations of $4.17 billion. During the same quarter last year, the company earned $1.26 earnings per share. The firm’s revenue was down 14.0% on a year-over-year basis. On average, analysts forecast that Paccar Inc. will post $3.98 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Wednesday, November 16th. Paccar’s payout ratio is presently 51.34%.
A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. cut Paccar from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $58.00 to $47.00 in a report on Monday, June 27th. Robert W. Baird reiterated a “buy” rating on shares of Paccar in a report on Tuesday, June 28th. Zacks Investment Research cut Paccar from a “hold” rating to a “sell” rating in a report on Monday, July 11th. Longbow Research cut Paccar from a “neutral” rating to an “underperform” rating and set a $44.00 target price on the stock. in a report on Tuesday, July 19th. Finally, Barclays PLC set a $47.00 target price on Paccar and gave the company a “sell” rating in a report on Wednesday, July 27th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. Paccar currently has a consensus rating of “Hold” and a consensus target price of $56.33.
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.
Want to see what other hedge funds are holding PCAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paccar Inc. (NASDAQ:PCAR).
Receive News & Ratings for Paccar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paccar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.