PACCAR Inc (NASDAQ:PCAR) Stock Position Raised by Traynor Capital Management Inc.

Traynor Capital Management Inc. lifted its position in PACCAR Inc (NASDAQ:PCAR) by 6.2% in the 1st quarter, Holdings Channel reports. The fund owned 2,314 shares of the company’s stock after buying an additional 135 shares during the period. Traynor Capital Management Inc.’s holdings in PACCAR were worth $287,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Ballentine Partners LLC grew its holdings in shares of PACCAR by 9.2% during the 1st quarter. Ballentine Partners LLC now owns 6,262 shares of the company’s stock valued at $776,000 after acquiring an additional 525 shares in the last quarter. Cooper Financial Group purchased a new position in shares of PACCAR during the 1st quarter valued at $210,000. International Assets Investment Management LLC lifted its stake in shares of PACCAR by 66.2% in the 1st quarter. International Assets Investment Management LLC now owns 6,403 shares of the company’s stock valued at $788,000 after purchasing an additional 2,551 shares during the last quarter. &PARTNERS acquired a new position in PACCAR during the 1st quarter worth $422,000. Finally, Gulf International Bank UK Ltd lifted its position in PACCAR by 11.1% during the 1st quarter. Gulf International Bank UK Ltd now owns 47,673 shares of the company’s stock worth $5,906,000 after acquiring an additional 4,757 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Performance

NASDAQ:PCAR opened at $106.89 on Tuesday. The company has a market cap of $56.03 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 1.62 and a beta of 0.94. The firm’s 50-day moving average is $108.42 and its 200-day moving average is $107.56. PACCAR Inc has a 52-week low of $78.58 and a 52-week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.25 earnings per share. Equities research analysts anticipate that PACCAR Inc will post 8.36 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th were paid a $0.30 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.12%. This is a boost from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s payout ratio is presently 12.45%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PCAR shares. JPMorgan Chase & Co. cut their target price on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. The Goldman Sachs Group boosted their target price on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Truist Financial reissued a “hold” rating and set a $121.00 target price (up previously from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. UBS Group raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Finally, Royal Bank of Canada began coverage on shares of PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price for the company. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.62.

Insider Activity at PACCAR

In related news, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the sale, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brice J. Poplawski sold 2,067 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The disclosure for this sale can be found here. Insiders have sold a total of 45,040 shares of company stock valued at $4,779,241 over the last quarter. 2.02% of the stock is owned by company insiders.

PACCAR Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, 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.