PACCAR Inc (PCAR) Shares Bought by Gabelli Funds LLC
Gabelli Funds LLC boosted its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 8.4% in the 4th quarter, HoldingsChannel reports. The fund owned 309,500 shares of the company’s stock after buying an additional 24,000 shares during the period. Gabelli Funds LLC’s holdings in PACCAR were worth $21,999,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in PACCAR by 11.4% during the third quarter. Bank of New York Mellon Corp now owns 6,765,314 shares of the company’s stock valued at $489,402,000 after purchasing an additional 694,185 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of PACCAR by 8.4% in the 4th quarter. Victory Capital Management Inc. now owns 3,041,683 shares of the company’s stock worth $216,203,000 after acquiring an additional 235,097 shares during the last quarter. Boston Partners lifted its holdings in shares of PACCAR by 25.0% in the 4th quarter. Boston Partners now owns 2,696,016 shares of the company’s stock worth $191,633,000 after acquiring an additional 539,915 shares during the last quarter. US Bancorp DE lifted its holdings in shares of PACCAR by 10.2% in the 4th quarter. US Bancorp DE now owns 2,662,492 shares of the company’s stock worth $189,251,000 after acquiring an additional 245,816 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of PACCAR by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,062,819 shares of the company’s stock worth $149,225,000 after acquiring an additional 11,814 shares during the last quarter. 62.37% of the stock is owned by institutional investors.
PACCAR Inc (PCAR) opened at $68.69 on Thursday. The stock has a market cap of $24,643.59, a P/E ratio of 14.46, a PEG ratio of 1.34 and a beta of 1.22. PACCAR Inc has a 12-month low of $61.93 and a 12-month high of $79.69. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.08 and a quick ratio of 0.90.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 13th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.46%. The ex-dividend date is Monday, February 12th. PACCAR’s dividend payout ratio is presently 21.05%.
In other PACCAR news, VP C Michael Dozier sold 3,618 shares of PACCAR stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $69.02, for a total transaction of $249,714.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.64% of the company’s stock.
Several research firms have recently issued reports on PCAR. Stifel Nicolaus restated a “hold” rating and issued a $75.00 target price on shares of PACCAR in a report on Monday. Zacks Investment Research upgraded shares of PACCAR from a “hold” rating to a “strong-buy” rating and set a $86.00 target price for the company in a report on Friday, February 2nd. Credit Suisse Group lowered their target price on shares of PACCAR from $75.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. Buckingham Research raised their target price on shares of PACCAR from $73.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. Finally, Wells Fargo & Co raised their target price on shares of PACCAR from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $76.58.
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PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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