First Trust Advisors LP Decreases Stock Holdings in PACCAR Inc. $PCAR

First Trust Advisors LP trimmed its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 11.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,605,471 shares of the company’s stock after selling 449,527 shares during the quarter. First Trust Advisors LP’s holdings in PACCAR were worth $416,432,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PCAR. Ares Financial Consulting LLC bought a new stake in shares of PACCAR in the 4th quarter valued at approximately $27,000. Steph & Co. bought a new position in shares of PACCAR during the 1st quarter valued at approximately $29,000. MCF Advisors LLC increased its position in shares of PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after purchasing an additional 92 shares during the last quarter. Elyxium Wealth LLC purchased a new stake in PACCAR during the 4th quarter valued at $30,000. Finally, Camelot Portfolios LLC purchased a new stake in PACCAR during the 4th quarter valued at $33,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

PCAR stock opened at $126.25 on Wednesday. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $117.82 and its two-hundred day simple moving average is $119.87. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $131.88. The firm has a market cap of $66.44 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 1.14 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.15. The firm had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The business’s revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 earnings per share. Analysts predict that PACCAR Inc. will post 5.66 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is presently 29.79%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PCAR. BNP Paribas Exane assumed coverage on shares of PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective on the stock. Citigroup restated a “neutral” rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Wells Fargo & Company set a $125.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Evercore set a $139.00 price objective on shares of PACCAR in a research report on Monday, May 11th. Finally, Truist Financial raised their price objective on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $124.18.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.