PACCAR Inc. $PCAR Shares Sold by Bogart Wealth LLC

Bogart Wealth LLC lessened its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 28.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 104,264 shares of the company’s stock after selling 41,192 shares during the quarter. Bogart Wealth LLC’s holdings in PACCAR were worth $12,042,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PCAR. Vanguard Group Inc. lifted its stake in PACCAR by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after buying an additional 363,782 shares during the last quarter. Wellington Management Group LLP grew its position in shares of PACCAR by 18.6% during the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock worth $2,516,272,000 after acquiring an additional 3,597,283 shares during the last quarter. State Street Corp grew its position in shares of PACCAR by 0.4% during the fourth quarter. State Street Corp now owns 22,497,197 shares of the company’s stock worth $2,494,269,000 after acquiring an additional 94,869 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of PACCAR by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock valued at $1,350,867,000 after acquiring an additional 50,622 shares during the period. Finally, Norges Bank acquired a new position in shares of PACCAR in the 4th quarter valued at $727,745,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

PACCAR stock opened at $119.50 on Monday. 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 business has a 50 day simple moving average of $116.34 and a 200-day simple moving average of $118.76. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $131.88. The stock has a market capitalization of $62.89 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 1.11 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.15. The firm 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 period last year, the firm posted $1.46 EPS. Equities analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Evercore set a $139.00 price objective on shares of PACCAR in a research note on Monday, May 11th. Truist Financial lifted their price objective on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Thursday. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, Citigroup reissued a “neutral” rating and set a $125.00 price target (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $122.45.

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.