Evercore Wealth Management LLC acquired a new stake in PACCAR Inc (NASDAQ:PCAR) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,536 shares of the company’s stock, valued at approximately $514,000.
Several other institutional investors have also made changes to their positions in the company. Pitcairn Co. grew its stake in shares of PACCAR by 3.7% during the first quarter. Pitcairn Co. now owns 3,001 shares of the company’s stock valued at $279,000 after acquiring an additional 107 shares in the last quarter. Engineers Gate Manager LP boosted its stake in PACCAR by 0.7% during the 4th quarter. Engineers Gate Manager LP now owns 16,610 shares of the company’s stock valued at $1,433,000 after acquiring an additional 110 shares during the last quarter. Diversified Trust Co grew its holdings in PACCAR by 4.1% during the 1st quarter. Diversified Trust Co now owns 3,053 shares of the company’s stock worth $284,000 after acquiring an additional 120 shares in the last quarter. Unison Advisors LLC increased its position in shares of PACCAR by 0.4% in the 1st quarter. Unison Advisors LLC now owns 27,195 shares of the company’s stock worth $2,527,000 after purchasing an additional 121 shares during the last quarter. Finally, NEXT Financial Group Inc raised its stake in shares of PACCAR by 21.8% in the 1st quarter. NEXT Financial Group Inc now owns 688 shares of the company’s stock valued at $64,000 after purchasing an additional 123 shares in the last quarter. Institutional investors own 63.77% of the company’s stock.
Several research analysts have recently commented on the company. Wolfe Research upgraded PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 15th. Morgan Stanley lifted their price target on shares of PACCAR from $102.00 to $103.00 and gave the company an “equal weight” rating in a report on Monday, April 12th. Evercore ISI lifted their price target on shares of PACCAR from $111.00 to $115.00 in a report on Wednesday, May 12th. Credit Suisse Group boosted their price objective on PACCAR from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on PACCAR from $95.00 to $93.00 and set a “hold” rating for the company in a research report on Wednesday, July 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. PACCAR currently has an average rating of “Hold” and a consensus target price of $100.36.
Shares of PACCAR stock opened at $88.15 on Thursday. PACCAR Inc has a fifty-two week low of $80.36 and a fifty-two week high of $103.19. The firm has a market capitalization of $30.60 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 1.51 and a beta of 1.00. The company has a fifty day moving average price of $90.08. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.45 and a current ratio of 2.64.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 27th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.27 by $0.08. PACCAR had a net margin of 7.26% and a return on equity of 13.72%. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.45 billion. During the same period in the prior year, the business earned $1.03 earnings per share. The business’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, equities research analysts expect that PACCAR Inc will post 5.82 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 8th. Investors of record on Wednesday, August 18th will be given a $0.34 dividend. The ex-dividend date is Tuesday, August 17th. This represents a $1.36 annualized dividend and a dividend yield of 1.54%. PACCAR’s dividend payout ratio (DPR) is presently 36.36%.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.
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