PACCAR Inc. (NASDAQ:PCAR) Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its holdings in PACCAR Inc. (NASDAQ:PCAR) by 27.2% during the 1st quarter, Holdings Channel reports. The fund owned 1,725 shares of the company’s stock after acquiring an additional 369 shares during the quarter. Exchange Traded Concepts LLC’s holdings in PACCAR were worth $168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after purchasing an additional 290 shares during the period. Private Advisor Group LLC lifted its holdings in shares of PACCAR by 6.3% in the fourth quarter. Private Advisor Group LLC now owns 27,755 shares of the company’s stock valued at $2,887,000 after buying an additional 1,637 shares during the period. Navellier & Associates Inc. boosted its stake in PACCAR by 18.3% during the fourth quarter. Navellier & Associates Inc. now owns 4,771 shares of the company’s stock valued at $496,000 after buying an additional 739 shares in the last quarter. Howard Capital Management Inc. grew its holdings in PACCAR by 5.9% during the fourth quarter. Howard Capital Management Inc. now owns 17,504 shares of the company’s stock worth $1,821,000 after acquiring an additional 971 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its position in PACCAR by 116.4% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 15,559 shares of the company’s stock worth $1,618,000 after acquiring an additional 8,368 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Price Performance

NASDAQ PCAR opened at $91.75 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.35 and a quick ratio of 2.19. The firm has a market capitalization of $48.17 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 3.36 and a beta of 0.95. The company has a 50 day simple moving average of $92.17 and a 200-day simple moving average of $100.09. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $118.81.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same quarter in the prior year, the company posted $2.27 EPS. The firm’s quarterly revenue was down 16.0% compared to the same quarter last year. Equities research analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Wednesday, May 14th. PACCAR’s dividend payout ratio is currently 20.00%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PCAR. Melius Research set a $120.00 price target on shares of PACCAR in a report on Tuesday, March 18th. Evercore ISI decreased their price target on PACCAR from $127.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, May 19th. Morgan Stanley lowered shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price objective for the company. in a research note on Wednesday, April 16th. Truist Financial decreased their target price on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Finally, Citigroup cut their price target on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus target price of $104.14.

Insider Transactions at PACCAR

In other news, Director Pierre R. Breber acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the acquisition, the director now owns 13,015 shares of the company’s stock, valued at approximately $1,168,486.70. This represents a 62.38% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.02% of the stock is currently owned by company insiders.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.