Fortis Group Advisors LLC Takes Position in PACCAR Inc. $PCAR

Fortis Group Advisors LLC acquired a new stake in PACCAR Inc. (NASDAQ:PCAR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,067 shares of the company’s stock, valued at approximately $1,650,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ares Financial Consulting LLC purchased a new stake in shares of PACCAR in the fourth quarter valued at $27,000. Elyxium Wealth LLC purchased a new stake in shares of PACCAR in the fourth quarter valued at $30,000. Wealth Watch Advisors INC purchased a new stake in shares of PACCAR in the third quarter valued at $32,000. Camelot Portfolios LLC purchased a new stake in shares of PACCAR in the fourth quarter valued at $33,000. Finally, AlphaQuest LLC purchased a new stake in PACCAR during the third quarter valued at about $38,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of NASDAQ:PCAR opened at $111.64 on Thursday. The firm has a market capitalization of $58.75 billion, a PE ratio of 23.75, a P/E/G ratio of 1.02 and a beta of 1.02. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The business has a 50-day moving average of $118.14 and a two-hundred day moving average of $115.72. PACCAR Inc. has a 12 month low of $90.05 and a 12 month high of $131.88.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. The company’s revenue was down 9.8% compared to the same quarter last year. As a group, research analysts forecast that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.3%. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PCAR shares. Evercore set a $139.00 price target on PACCAR in a research note on Monday, May 11th. Weiss Ratings upgraded PACCAR from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. dropped their price target on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Citigroup restated a “neutral” rating and set a $125.00 price target (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Finally, Wells Fargo & Company set a $125.00 price target on PACCAR and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $122.00.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.