Gabelli Funds LLC Has $21.70 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

Gabelli Funds LLC reduced its stake in shares of PACCAR Inc (NASDAQ:PCARGet Rating) by 0.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 246,400 shares of the company’s stock after selling 300 shares during the quarter. Gabelli Funds LLC owned 0.07% of PACCAR worth $21,700,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Baader Bank INC bought a new stake in shares of PACCAR during the 1st quarter worth $796,000. Mirabella Financial Services LLP bought a new stake in shares of PACCAR during the 1st quarter worth $1,877,000. Point72 Hong Kong Ltd bought a new stake in shares of PACCAR during the 1st quarter worth $522,000. Quantbot Technologies LP lifted its position in shares of PACCAR by 176.9% during the 1st quarter. Quantbot Technologies LP now owns 33,734 shares of the company’s stock worth $2,970,000 after buying an additional 21,551 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of PACCAR during the 1st quarter worth $658,000. 64.17% of the stock is owned by institutional investors and hedge funds.

PACCAR Price Performance

Shares of PCAR opened at $86.06 on Wednesday. PACCAR Inc has a 1 year low of $77.00 and a 1 year high of $97.56. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.62 and a quick ratio of 2.36. The company has a market capitalization of $29.92 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 1.14 and a beta of 0.89. The business has a 50-day moving average of $87.95 and a 200-day moving average of $86.34.

PACCAR (NASDAQ:PCARGet Rating) last released its earnings results on Tuesday, July 26th. The company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.81 by $0.26. PACCAR had a return on equity of 18.64% and a net margin of 8.68%. The business had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. During the same quarter last year, the firm posted $1.41 earnings per share. The firm’s revenue was up 26.0% on a year-over-year basis. As a group, equities research analysts anticipate that PACCAR Inc will post 7.73 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Tuesday, November 15th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.72%. This is a boost from PACCAR’s previous quarterly dividend of $0.34. PACCAR’s dividend payout ratio (DPR) is currently 21.45%.

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $91.50, for a total transaction of $183,000.00. Following the completion of the sale, the vice president now owns 2,119 shares of the company’s stock, valued at $193,888.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.05% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several recent analyst reports. Cowen dropped their price objective on PACCAR from $100.00 to $92.00 in a research report on Thursday, July 7th. Credit Suisse Group increased their target price on PACCAR from $102.00 to $104.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. JPMorgan Chase & Co. dropped their target price on PACCAR from $106.00 to $94.00 and set an “overweight” rating for the company in a research report on Tuesday, July 12th. Citigroup increased their target price on PACCAR from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Finally, Vertical Research downgraded PACCAR from a “buy” rating to a “hold” rating and increased their target price for the company from $100.00 to $102.00 in a research report on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.21.

About PACCAR

(Get Rating)

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.

Further Reading

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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