Oppenheimer Asset Management Inc. grew its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 5.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,381 shares of the company’s stock after purchasing an additional 1,051 shares during the period. Oppenheimer Asset Management Inc.’s holdings in PACCAR were worth $1,497,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its holdings in shares of PACCAR by 1.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,557 shares of the company’s stock valued at $900,000 after purchasing an additional 135 shares during the period. Trustcore Financial Services LLC grew its holdings in PACCAR by 1.8% during the third quarter. Trustcore Financial Services LLC now owns 8,414 shares of the company’s stock worth $589,000 after acquiring an additional 150 shares during the period. Compagnie Lombard Odier SCmA grew its holdings in PACCAR by 35.0% during the second quarter. Compagnie Lombard Odier SCmA now owns 606 shares of the company’s stock worth $43,000 after acquiring an additional 157 shares during the period. Squar Milner Financial Services LLC grew its holdings in PACCAR by 7.9% during the third quarter. Squar Milner Financial Services LLC now owns 2,250 shares of the company’s stock worth $157,000 after acquiring an additional 165 shares during the period. Finally, Hartford Investment Management Co. grew its holdings in PACCAR by 0.4% during the second quarter. Hartford Investment Management Co. now owns 46,237 shares of the company’s stock worth $3,313,000 after acquiring an additional 168 shares during the period. 63.42% of the stock is currently owned by institutional investors.
PCAR has been the topic of a number of research analyst reports. Wells Fargo & Co lifted their target price on PACCAR from $72.00 to $75.00 and gave the stock a “market perform” rating in a report on Wednesday, October 23rd. BidaskClub raised PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Credit Suisse Group lifted their target price on PACCAR from $74.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. lowered their target price on PACCAR from $70.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Finally, Morgan Stanley lifted their target price on PACCAR from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $71.64.
Shares of NASDAQ PCAR opened at $79.68 on Thursday. PACCAR Inc has a one year low of $53.43 and a one year high of $80.36. The firm has a market capitalization of $27.43 billion, a PE ratio of 12.77, a PEG ratio of 1.67 and a beta of 1.25. The company has a current ratio of 2.39, a quick ratio of 2.23 and a debt-to-equity ratio of 0.67. The business has a 50-day moving average price of $71.83 and a two-hundred day moving average price of $69.65.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.75 EPS for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.11. PACCAR had a return on equity of 26.11% and a net margin of 9.45%. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.97 billion. During the same period last year, the company posted $1.55 EPS. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. Research analysts anticipate that PACCAR Inc will post 6.79 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, November 8th. This represents a $1.28 dividend on an annualized basis and a yield of 1.61%. PACCAR’s payout ratio is presently 20.51%.
In other news, CFO Harrie Schippers sold 7,927 shares of PACCAR stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $77.73, for a total transaction of $616,165.71. Following the completion of the sale, the chief financial officer now directly owns 40,051 shares in the company, valued at approximately $3,113,164.23. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Douglas S. Grandstaff sold 1,320 shares of PACCAR stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $76.02, for a total value of $100,346.40. Following the sale, the vice president now owns 6,124 shares of the company’s stock, valued at $465,546.48. The disclosure for this sale can be found here. Insiders have sold a total of 106,949 shares of company stock valued at $8,207,798 over the last 90 days. Corporate insiders own 2.32% of the company’s stock.
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.
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