Paccar Inc. (PCAR) Stake Boosted by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP raised its position in Paccar Inc. (NASDAQ:PCAR) by 12.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,071,611 shares of the company’s stock after buying an additional 229,234 shares during the period. Dimensional Fund Advisors LP owned 0.59% of Paccar worth $107,443,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of PCAR. NN Investment Partners Holdings N.V. acquired a new stake in shares of Paccar during the first quarter worth approximately $111,000. Assetmark Inc. acquired a new stake in shares of Paccar during the second quarter worth approximately $128,000. Meeder Asset Management Inc. acquired a new stake in shares of Paccar during the first quarter worth approximately $224,000. BlueMountain Capital Management LLC raised its stake in shares of 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. Finally, Squarepoint Ops LLC acquired a new stake in shares of Paccar during the first quarter worth approximately $280,000. Institutional investors and hedge funds own 62.12% of the company’s stock.
Shares of Paccar Inc. (NASDAQ:PCAR) traded up 0.398% during midday trading on Monday, reaching $56.795. The company’s stock had a trading volume of 599,898 shares. The company’s 50-day moving average price is $58.61 and its 200-day moving average price is $55.56. The company has a market cap of $19.91 billion, a PE ratio of 30.146 and a beta of 1.49. Paccar Inc. has a 12 month low of $43.46 and a 12 month high of $60.86.
Paccar (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.04. The firm had revenue of $4.12 billion for 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%. The company’s revenue was down 14.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 EPS. On average, equities analysts anticipate that Paccar Inc. will post $3.97 EPS for the current fiscal year.
The business also recently disclosed 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 is Wednesday, November 16th. This represents a $0.96 annualized dividend and a dividend yield of 1.70%. Paccar’s dividend payout ratio (DPR) is 51.34%.
PCAR has been the topic of a number of recent analyst reports. Robert W. Baird reiterated a “buy” rating on shares of Paccar in a report on Tuesday, June 28th. Bank of America Corp. reissued a “buy” rating on shares of Paccar in a research report on Thursday, June 16th. Jefferies Group raised their target price on Paccar from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, September 1st. Deutsche Bank AG initiated coverage on Paccar in a research report on Tuesday, September 6th. They issued a “hold” rating and a $63.00 target price for the company. Finally, BMO Capital Markets reissued a “hold” rating and issued a $57.00 target price on shares of Paccar in a research report on Friday, July 29th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. Paccar presently has a consensus rating of “Hold” and a consensus target price of $55.93.
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.
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 Analyst Ratings Network's FREE daily email newsletter.