Paccar Inc. (PCAR) Position Increased by Macquarie Group Ltd.
Macquarie Group Ltd. raised its stake in shares of Paccar Inc. (NASDAQ:PCAR) by 67.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,700 shares of the company’s stock after buying an additional 6,700 shares during the period. Macquarie Group Ltd.’s holdings in Paccar were worth $866,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of PCAR. State Street Corp raised its position in shares of Paccar by 2.3% in the first quarter. State Street Corp now owns 14,693,701 shares of the company’s stock valued at $803,596,000 after buying an additional 335,531 shares during the last quarter. Capital World Investors raised its position in shares of Paccar by 3.9% in the second quarter. Capital World Investors now owns 12,005,500 shares of the company’s stock valued at $622,725,000 after buying an additional 453,000 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Paccar by 3.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 11,520,368 shares of the company’s stock valued at $597,561,000 after buying an additional 377,073 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Paccar by 4.4% in the second quarter. BlackRock Fund Advisors now owns 9,130,432 shares of the company’s stock valued at $473,596,000 after buying an additional 381,482 shares during the last quarter. Finally, BlackRock Group LTD raised its position in shares of Paccar by 6.9% in the second quarter. BlackRock Group LTD now owns 4,030,270 shares of the company’s stock valued at $209,049,000 after buying an additional 260,247 shares during the last quarter. 62.23% of the stock is currently owned by hedge funds and other institutional investors.
Paccar Inc. (NASDAQ:PCAR) opened at 58.45 on Friday. The stock’s 50 day moving average is $58.36 and its 200-day moving average is $55.74. Paccar Inc. has a 52 week low of $43.46 and a 52 week high of $60.86. The stock has a market capitalization of $20.49 billion, a PE ratio of 31.02 and a beta of 1.49.
Paccar (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 26th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.04. Paccar had a return on equity of 21.92% and a net margin of 3.71%. The firm earned $4.12 billion during the quarter, compared to analyst estimates of $4.17 billion. During the same period last year, the firm posted $1.26 EPS. The business’s revenue was down 14.0% compared to the same quarter last year. Equities research analysts forecast that Paccar Inc. will post $3.97 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.64%. The ex-dividend date is Wednesday, November 16th. Paccar’s dividend payout ratio (DPR) is currently 51.34%.
Several equities analysts have issued reports on the company. Jefferies Group raised their price objective on Paccar from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, September 1st. Zacks Investment Research raised Paccar from a “sell” rating to a “hold” rating in a report on Thursday, July 28th. BMO Capital Markets reaffirmed a “hold” rating and set a $57.00 price objective on shares of Paccar in a report on Friday, July 29th. Barclays PLC set a $47.00 price objective on Paccar and gave the stock a “sell” rating in a report on Wednesday, July 27th. Finally, Deutsche Bank AG assumed coverage on Paccar in a report on Tuesday, September 6th. They set a “hold” rating and a $63.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.93.
PACCAR Inc (PACCAR) is a global technology company engaged in the design, manufacture and customer support of trucks. The Company operates in three segments: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to customers and dealers.
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