Gamco Investors INC. ET AL Trims Stock Position in PACCAR Inc. $PCAR

Gamco Investors INC. ET AL cut its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 13.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 32,247 shares of the company’s stock after selling 5,177 shares during the quarter. Gamco Investors INC. ET AL’s holdings in PACCAR were worth $3,531,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in PACCAR by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after buying an additional 363,782 shares during the period. Capital Research Global Investors lifted its position in PACCAR by 20.3% during the third quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock worth $587,084,000 after buying an additional 1,009,134 shares during the period. Invesco Ltd. lifted its position in PACCAR by 3.5% during the third quarter. Invesco Ltd. now owns 5,396,888 shares of the company’s stock worth $530,622,000 after buying an additional 184,502 shares during the period. UBS Group AG lifted its position in PACCAR by 74.4% during the fourth quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock worth $498,146,000 after buying an additional 1,940,260 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in PACCAR by 0.7% during the third quarter. Bank of New York Mellon Corp now owns 3,256,671 shares of the company’s stock worth $320,196,000 after buying an additional 22,941 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Performance

Shares of PCAR stock opened at $111.64 on Thursday. The company’s fifty day moving average price is $118.14 and its two-hundred day moving average price is $115.72. 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 firm has a market capitalization of $58.75 billion, a P/E ratio of 23.75, a P/E/G ratio of 1.02 and a beta of 1.02. PACCAR Inc. has a 12 month low of $90.05 and a 12 month high of $131.88.

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

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th will be paid a dividend of $0.35 per share. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, May 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.3%. PACCAR’s payout ratio is 29.79%.

Wall Street Analyst Weigh In

PCAR has been the topic of several recent analyst reports. Citigroup reiterated a “neutral” rating and set a $125.00 target price (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Truist Financial increased their target price on PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. reduced their target price on PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. Finally, Weiss Ratings upgraded PACCAR from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $122.00.

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.