Mesirow Financial Investment Management Inc. acquired a new stake in shares of PACCAR Inc (NASDAQ:PCAR – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,617 shares of the company’s stock, valued at approximately $270,000.
Other hedge funds have also recently made changes to their positions in the company. YHB Investment Advisors Inc. purchased a new position in shares of PACCAR during the first quarter valued at approximately $27,000. New Covenant Trust Company N.A. purchased a new position in shares of PACCAR during the first quarter valued at approximately $27,000. Riverview Trust Co purchased a new position in shares of PACCAR during the first quarter valued at approximately $29,000. Rise Advisors LLC purchased a new position in shares of PACCAR during the first quarter valued at approximately $31,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after purchasing an additional 205 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.
PACCAR Stock Performance
PCAR opened at $97.99 on Wednesday. The firm has a market cap of $51.37 billion, a P/E ratio of 10.16, a PEG ratio of 1.47 and a beta of 0.91. PACCAR Inc has a 1-year low of $80.94 and a 1-year high of $125.50. The company has a 50 day simple moving average of $97.22 and a two-hundred day simple moving average of $106.41. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.78 and a quick ratio of 2.54.
PACCAR Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.22%. PACCAR’s dividend payout ratio is 12.45%.
Insider Buying and Selling
In related news, CEO R Preston Feight sold 27,834 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the transaction, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.02% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on PCAR. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Raymond James started coverage on shares of PACCAR in a report on Friday, June 28th. They set a “market perform” rating for the company. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Evercore ISI reduced their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $112.73.
Check Out Our Latest Stock Analysis on PCAR
PACCAR Company 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.
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