Magnetar Financial LLC bought a new position in PACCAR Inc (NASDAQ:PCAR – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 19,476 shares of the company’s stock, valued at approximately $2,005,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. YHB Investment Advisors Inc. purchased a new stake in shares of PACCAR in the first quarter worth $27,000. New Covenant Trust Company N.A. purchased a new position in shares of PACCAR during the first quarter worth about $27,000. Riverview Trust Co purchased a new position in shares of PACCAR during the first quarter worth about $29,000. Meeder Asset Management Inc. raised its stake in PACCAR by 269.7% in 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 in the last quarter. Finally, Rise Advisors LLC purchased a new position in PACCAR in the first quarter worth $31,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.
PACCAR Stock Down 0.1 %
Shares of PACCAR stock opened at $98.79 on Tuesday. PACCAR Inc has a 1 year low of $80.94 and a 1 year high of $125.50. The firm has a market cap of $51.79 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 1.48 and a beta of 0.91. The company has a 50-day moving average of $96.84 and a 200 day moving average of $105.97. 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.21%. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.
Insider Buying and Selling at PACCAR
In related news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the sale, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.02% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on PCAR. Citigroup cut their target price on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Raymond James assumed coverage on PACCAR in a report on Friday, June 28th. They set a “market perform” rating for the company. JPMorgan Chase & Co. lowered their price objective on PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Evercore ISI cut their price target on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of “Hold” and an average price target of $112.73.
Get Our Latest Stock Report 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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