HighTower Advisors LLC Has $5.21 Million Stock Position in PACCAR Inc. $PCAR

HighTower Advisors LLC decreased its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 29.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,575 shares of the company’s stock after selling 19,392 shares during the quarter. HighTower Advisors LLC’s holdings in PACCAR were worth $5,210,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ares Financial Consulting LLC bought a new position in shares of PACCAR during the 4th quarter worth approximately $27,000. Elyxium Wealth LLC bought a new stake in PACCAR in the 4th quarter valued at $30,000. Wealth Watch Advisors INC bought a new stake in PACCAR in the 3rd quarter valued at $32,000. Camelot Portfolios LLC bought a new stake in PACCAR in the 4th quarter valued at $33,000. Finally, AlphaQuest LLC bought a new stake in PACCAR in the 3rd quarter valued at $38,000. 64.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PCAR has been the subject of several recent research reports. JPMorgan Chase & Co. reduced 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. BNP Paribas Exane initiated coverage on PACCAR in a research note on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target for the company. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Evercore set a $139.00 price target on PACCAR in a research note on Monday, May 11th. Finally, Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. One investment 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $122.00.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $112.22 on Friday. The stock has a market capitalization of $59.06 billion, a PE ratio of 23.88, a P/E/G ratio of 1.04 and a beta of 1.02. 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 fifty day moving average price of $117.42 and a two-hundred day moving average price of $116.24. PACCAR Inc. has a fifty-two week low of $90.05 and a fifty-two week high of $131.88.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, meeting the consensus estimate of $1.15. The firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The company’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. As a group, equities 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. Shareholders of record on Wednesday, May 13th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.2%. This is a boost from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s payout ratio is presently 29.79%.

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.