Premier Path Wealth Partners LLC Acquires 429 Shares of PACCAR Inc. (NASDAQ:PCAR)

Premier Path Wealth Partners LLC increased its holdings in PACCAR Inc. (NASDAQ:PCAR) by 13.9% in the 1st quarter, Holdings Channel reports. The fund owned 3,526 shares of the company’s stock after buying an additional 429 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in PACCAR were worth $343,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP increased its stake in shares of PACCAR by 25.0% in the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock worth $1,747,408,000 after acquiring an additional 3,364,650 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of PACCAR by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company’s stock worth $1,275,269,000 after acquiring an additional 362,637 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of PACCAR by 5.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock worth $1,119,997,000 after acquiring an additional 572,231 shares in the last quarter. FMR LLC increased its stake in shares of PACCAR by 1.9% in the 4th quarter. FMR LLC now owns 8,791,660 shares of the company’s stock worth $914,509,000 after acquiring an additional 167,165 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of PACCAR by 8.5% in the 4th quarter. Northern Trust Corp now owns 7,202,358 shares of the company’s stock worth $749,189,000 after acquiring an additional 565,967 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Performance

Shares of PCAR stock opened at $90.99 on Friday. The company has a 50 day moving average price of $92.13 and a 200-day moving average price of $100.51. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The firm has a market capitalization of $47.77 billion, a PE ratio of 13.79, a P/E/G ratio of 3.35 and a beta of 0.95. The company has a quick ratio of 2.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.55.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the prior year, the firm earned $2.27 earnings per share. The business’s revenue was down 16.0% compared to the same quarter last year. As a group, equities research analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were paid a $0.33 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.45%. PACCAR’s dividend payout ratio is presently 20.00%.

Analysts Set New Price Targets

PCAR has been the subject of a number of analyst reports. Melius Research set a $120.00 price objective on shares of PACCAR in a research note on Tuesday, March 18th. Morgan Stanley lowered shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price objective for the company. in a research note on Wednesday, April 16th. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Finally, UBS Group lowered shares of PACCAR from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $108.00 to $78.00 in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $104.14.

Insider Transactions at PACCAR

In other PACCAR news, Director Pierre R. Breber acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average price of $89.78 per share, with a total value of $448,900.00. Following the completion of the acquisition, the director now owns 13,015 shares in the company, valued at $1,168,486.70. This represents a 62.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.02% of the company’s stock.

About PACCAR

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.