State Treasurer State of Michigan increased its stake in shares of Paccar Inc. (NASDAQ:PCAR) by 0.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 122,366 shares of the company’s stock after buying an additional 600 shares during the period. State Treasurer State of Michigan’s holdings in Paccar were worth $7,193,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of PCAR. Bank of Montreal Can bought a new stake in Paccar during the second quarter valued at $54,296,000. Kleinwort Benson Investors Dublin Ltd bought a new stake in Paccar during the second quarter valued at $42,310,000. Capital World Investors boosted its stake in Paccar by 3.9% in the second quarter. Capital World Investors now owns 12,005,500 shares of the company’s stock valued at $622,725,000 after buying an additional 453,000 shares during the period. BlackRock Inc. boosted its stake in Paccar by 32.9% in the second quarter. BlackRock Inc. now owns 1,821,434 shares of the company’s stock valued at $94,478,000 after buying an additional 450,710 shares during the period. Finally, BlackRock Fund Advisors boosted its stake in Paccar by 4.4% in the second quarter. BlackRock Fund Advisors now owns 9,130,432 shares of the company’s stock valued at $473,596,000 after buying an additional 381,482 shares during the period. Hedge funds and other institutional investors own 60.60% of the company’s stock.
Shares of Paccar Inc. (NASDAQ:PCAR) remained flat at $61.98 during midday trading on Thursday. The stock had a trading volume of 1,959,935 shares. The company has a market capitalization of $21.73 billion, a P/E ratio of 37.72 and a beta of 1.30. The stock has a 50-day moving average of $57.46 and a 200 day moving average of $56.59. Paccar Inc. has a one year low of $43.46 and a one year high of $62.22.
Paccar (NASDAQ:PCAR) last released its earnings results on Tuesday, October 25th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by $0.01. The firm earned $4.25 billion during the quarter, compared to the consensus estimate of $4.08 billion. Paccar had a return on equity of 20.96% and a net margin of 3.41%. Paccar’s revenue was down 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS. Equities research analysts predict that Paccar Inc. will post $3.90 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $0.96 annualized dividend and a dividend yield of 1.55%. Paccar’s dividend payout ratio (DPR) is presently 58.54%.
PCAR has been the topic of several research reports. Deutsche Bank AG started coverage on shares of Paccar in a research report on Tuesday, September 6th. They set a “hold” rating and a $63.00 price objective on the stock. Barclays PLC boosted their price target on shares of Paccar from $47.00 to $50.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 12th. Jefferies Group boosted their price target on shares of Paccar from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, September 1st. started coverage on shares of Paccar in a research note on Friday, September 30th. They issued an “outperform” rating and a $65.00 price target for the company. Finally, Zacks Investment Research raised shares of Paccar from a “sell” rating to a “hold” rating in a research note on Thursday, October 13th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $56.13.
In other news, VP C Michael Dozier sold 4,032 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $55.66, for a total value of $224,421.12. Following the completion of the sale, the vice president now owns 4,032 shares in the company, valued at approximately $224,421.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark C. Pigott sold 112,266 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $55.47, for a total transaction of $6,227,395.02. Following the completion of the sale, the insider now owns 2,998,711 shares of the company’s stock, valued at approximately $166,338,499.17. The disclosure for this sale can be found here. 2.62% of the stock is currently owned by insiders.
Paccar Company Profile