Bleakley Financial Group LLC Buys New Holdings in PACCAR Inc. $PCAR

Bleakley Financial Group LLC bought a new stake in shares of PACCAR Inc. (NASDAQ:PCAR) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 10,732 shares of the company’s stock, valued at approximately $1,175,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PCAR. Ares Financial Consulting LLC bought a new stake in PACCAR in the 4th quarter worth approximately $27,000. Elyxium Wealth LLC purchased a new position in shares of PACCAR in the 4th quarter worth approximately $30,000. Camelot Portfolios LLC purchased a new position in PACCAR during the 4th quarter valued at $33,000. Wealth Watch Advisors INC purchased a new position in PACCAR during the 3rd quarter valued at $32,000. Finally, True Wealth Design LLC raised its stake in shares of PACCAR by 61.1% during the fourth quarter. True Wealth Design LLC now owns 364 shares of the company’s stock valued at $40,000 after acquiring an additional 138 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several recent research reports. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. decreased 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. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Citigroup reissued a “neutral” rating and issued a $125.00 price objective (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Finally, Evercore set a $139.00 target price on PACCAR in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, PACCAR has a consensus rating of “Hold” and an average target price of $122.00.

PACCAR Stock Down 0.0%

Shares of PCAR opened at $112.22 on Friday. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a 12 month low of $90.05 and a 12 month high of $131.88. The firm has a market cap of $59.06 billion, a P/E ratio of 23.88, a PEG ratio of 1.04 and a beta of 1.02. The stock’s 50 day moving average is $117.42 and its two-hundred day moving average is $116.24.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS 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 firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the previous year, the business earned $1.46 earnings per share. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. Analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. PACCAR’s dividend payout ratio (DPR) is 29.79%.

PACCAR Company 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.