Seaward Management Limited Partnership Has $1,596,000 Stake in Paccar Inc. (PCAR)
Seaward Management Limited Partnership cut its position in shares of Paccar Inc. (NASDAQ:PCAR) by 2.4% during the second quarter, Holdings Channel reports. The firm owned 30,774 shares of the company’s stock after selling 750 shares during the period. Seaward Management Limited Partnership’s holdings in Paccar were worth $1,596,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. State Street Corp boosted its position in shares of Paccar by 2.3% in the first quarter. State Street Corp now owns 14,693,701 shares of the company’s stock worth $803,596,000 after buying an additional 335,531 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Paccar by 3.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 11,143,295 shares of the company’s stock worth $609,427,000 after buying an additional 334,736 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Paccar by 64.5% in the first quarter. BlackRock Fund Advisors now owns 8,748,950 shares of the company’s stock worth $478,480,000 after buying an additional 3,429,092 shares during the period. BlackRock Group LTD boosted its stake in shares of Paccar by 5.7% in the first quarter. BlackRock Group LTD now owns 3,770,023 shares of the company’s stock worth $206,183,000 after buying an additional 203,844 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Paccar by 2.0% in the first quarter. Geode Capital Management LLC now owns 3,070,842 shares of the company’s stock worth $167,628,000 after buying an additional 59,726 shares during the period. 62.23% of the stock is owned by hedge funds and other institutional investors.
Paccar Inc. (NASDAQ:PCAR) traded up 0.87% on Wednesday, reaching $57.78. 2,080,502 shares of the company traded hands. The stock has a market capitalization of $20.25 billion, a PE ratio of 30.67 and a beta of 1.49. Paccar Inc. has a one year low of $43.46 and a one year high of $60.86. The firm has a 50 day moving average of $58.34 and a 200-day moving average of $55.72.
Paccar (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.06 earnings per share for the quarter, topping 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 in the prior year, the business posted $1.26 earnings per share. Paccar’s revenue was down 14.0% compared to the same quarter last year. On average, analysts anticipate that Paccar Inc. will post $3.97 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, November 16th. This represents a $0.96 annualized dividend and a yield of 1.66%. Paccar’s dividend payout ratio is 51.34%.
A number of equities research analysts recently issued reports on PCAR shares. Goldman Sachs Group Inc. cut shares of Paccar from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $67.00 to $63.00 in a research report on Thursday, June 2nd. Bank of America Corp. reiterated a “buy” rating on shares of Paccar in a research report on Thursday, June 16th. JPMorgan Chase & Co. cut shares of Paccar from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $58.00 to $47.00 in a research report on Monday, June 27th. Robert W. Baird reiterated a “buy” rating on shares of Paccar in a research report on Tuesday, June 28th. Finally, Zacks Investment Research cut shares of Paccar from a “hold” rating to a “sell” rating in a research report on Monday, July 11th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average 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.
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