PACCAR Inc. $PCAR Stake Cut by Caxton Associates LLP

Caxton Associates LLP decreased its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 24.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,220 shares of the company’s stock after selling 8,410 shares during the period. Caxton Associates LLP’s holdings in PACCAR were worth $3,028,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ares Financial Consulting LLC bought a new position in shares of PACCAR in the 4th quarter worth about $27,000. MCF Advisors LLC grew its position in shares of PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after buying an additional 92 shares during the last quarter. Steph & Co. acquired a new stake in PACCAR during the first quarter worth about $29,000. Elyxium Wealth LLC acquired a new stake in PACCAR during the fourth quarter worth about $30,000. Finally, Wealth Watch Advisors INC bought a new position in PACCAR in the third quarter worth about $32,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price objective on PACCAR from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. BNP Paribas Exane assumed coverage on PACCAR in a research note on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective for the company. Finally, Citigroup reaffirmed a “neutral” rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $124.18.

PACCAR Stock Up 1.1%

PCAR stock opened at $132.24 on Friday. The company has a 50 day moving average of $119.00 and a two-hundred day moving average of $120.24. The company has a market cap of $69.60 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.20 and a beta of 0.97. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $133.90. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. The company had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. PACCAR’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.46 EPS. On average, equities analysts anticipate that PACCAR Inc. will post 5.66 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s dividend payout ratio is presently 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.