American International Group Inc. lessened its position in PACCAR Inc (NASDAQ:PCAR) by 1.1% in the first quarter, HoldingsChannel.com reports. The fund owned 161,465 shares of the company’s stock after selling 1,860 shares during the period. American International Group Inc.’s holdings in PACCAR were worth $11,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of PACCAR by 7.8% during the 4th quarter. BlackRock Inc. now owns 25,297,074 shares of the company’s stock worth $1,445,476,000 after buying an additional 1,830,638 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of PACCAR by 7,876.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,701,443 shares of the company’s stock worth $135,000 after buying an additional 7,604,885 shares during the period. Norges Bank bought a new stake in shares of PACCAR during the 4th quarter worth about $333,867,000. Geode Capital Management LLC boosted its holdings in shares of PACCAR by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 5,068,951 shares of the company’s stock worth $289,187,000 after buying an additional 350,337 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of PACCAR by 2.2% during the 4th quarter. Northern Trust Corp now owns 4,005,648 shares of the company’s stock worth $228,882,000 after buying an additional 87,800 shares during the period. 62.37% of the stock is owned by institutional investors.
PCAR has been the subject of several research analyst reports. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Tuesday, March 12th. BidaskClub cut shares of PACCAR from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Credit Suisse Group reiterated a “hold” rating and issued a $63.00 price objective on shares of PACCAR in a research note on Tuesday, January 22nd. ValuEngine upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. Finally, BMO Capital Markets lifted their price objective on shares of PACCAR to $70.00 and gave the stock a “market perform” rating in a research note on Friday. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. PACCAR has a consensus rating of “Hold” and a consensus target price of $66.16.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.16. PACCAR had a net margin of 9.50% and a return on equity of 25.94%. The business had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same quarter in the previous year, the company earned $1.45 EPS. The business’s revenue was up 17.3% on a year-over-year basis. As a group, equities research analysts expect that PACCAR Inc will post 6.71 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Monday, May 13th. PACCAR’s dividend payout ratio (DPR) is 20.51%.
In other news, SVP Darrin C. Siver sold 8,088 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $68.81, for a total value of $556,535.28. Following the completion of the transaction, the senior vice president now directly owns 24,335 shares in the company, valued at approximately $1,674,491.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Todd R. Hubbard sold 418 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $68.50, for a total transaction of $28,633.00. Following the completion of the transaction, the vice president now owns 4,586 shares of the company’s stock, valued at $314,141. The disclosure for this sale can be found here. Insiders sold a total of 16,328 shares of company stock valued at $1,131,589 over the last 90 days. Corporate insiders own 2.32% of the company’s stock.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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