First Washington CORP Trims Stake in PACCAR Inc. $PCAR

First Washington CORP trimmed its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 26.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 288,639 shares of the company’s stock after selling 101,900 shares during the quarter. PACCAR accounts for about 9.4% of First Washington CORP’s holdings, making the stock its 2nd largest holding. First Washington CORP’s holdings in PACCAR were worth $33,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PCAR. Sei Investments Co. lifted its holdings in shares of PACCAR by 7.5% in the 1st quarter. Sei Investments Co. now owns 134,291 shares of the company’s stock worth $15,511,000 after acquiring an additional 9,410 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab purchased a new stake in shares of PACCAR in the 1st quarter valued at $9,273,000. ABN Amro Investment Solutions grew its holdings in shares of PACCAR by 10.4% during the 1st quarter. ABN Amro Investment Solutions now owns 33,732 shares of the company’s stock valued at $3,896,000 after purchasing an additional 3,186 shares during the last quarter. PNC Financial Services Group Inc. raised its position in PACCAR by 3.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 133,234 shares of the company’s stock worth $15,388,000 after purchasing an additional 4,258 shares during the period. Finally, Oslo Pensjonsforsikring AS purchased a new position in PACCAR in the 1st quarter worth $524,000. Institutional investors own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PCAR shares. BNP Paribas Exane began coverage on PACCAR in a report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price objective on the stock. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Evercore set a $139.00 price target on PACCAR in a research note on Monday, May 11th. JPMorgan Chase & Co. increased their price objective on PACCAR from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Finally, Truist Financial raised their target price on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $124.18.

PACCAR Stock Down 0.3%

NASDAQ:PCAR opened at $130.75 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The firm has a market cap of $68.81 billion, a P/E ratio of 27.82, a P/E/G ratio of 1.20 and a beta of 0.97. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $133.49. The firm has a 50-day simple moving average of $118.56 and a two-hundred day simple moving average of $120.16.

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

PACCAR Dividend Announcement

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

PACCAR Company Profile

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.