SG Americas Securities LLC Trims Stock Position in PACCAR Inc. $PCAR

SG Americas Securities LLC trimmed its holdings in PACCAR Inc. (NASDAQ:PCAR) by 79.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 139,771 shares of the company’s stock after selling 541,120 shares during the quarter. SG Americas Securities LLC’s holdings in PACCAR were worth $16,144,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCAR. Evolve Private Wealth LLC boosted its stake in shares of PACCAR by 16.3% in the first quarter. Evolve Private Wealth LLC now owns 3,027 shares of the company’s stock worth $350,000 after buying an additional 424 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in PACCAR during the first quarter valued at approximately $956,000. Park National Corp OH lifted its holdings in PACCAR by 105.4% in the first quarter. Park National Corp OH now owns 29,250 shares of the company’s stock valued at $3,378,000 after acquiring an additional 15,007 shares during the period. E. Ohman J or Asset Management AB lifted its holdings in PACCAR by 7.2% in the first quarter. E. Ohman J or Asset Management AB now owns 17,929 shares of the company’s stock valued at $2,071,000 after acquiring an additional 1,200 shares during the period. Finally, Founders Financial Securities LLC boosted its position in PACCAR by 8.1% in the 1st quarter. Founders Financial Securities LLC now owns 7,695 shares of the company’s stock worth $978,000 after purchasing an additional 578 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Trading Up 4.0%

Shares of PCAR stock opened at $121.68 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The company has a market cap of $64.04 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 1.09 and a beta of 0.98. The stock has a 50 day simple moving average of $117.01 and a 200-day simple moving average of $118.40. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $131.88.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.15. The firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 EPS. On average, equities research analysts expect that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PCAR. Wells Fargo & Company set a $125.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Truist Financial lifted their price objective on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Finally, Evercore set a $139.00 target price on shares of PACCAR in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $122.00.

PACCAR 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.