Lazard Asset Management LLC Purchases 6,506 Shares of PACCAR Inc (NASDAQ:PCAR)

Lazard Asset Management LLC raised its position in PACCAR Inc (NASDAQ:PCARGet Rating) by 238.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,236 shares of the company’s stock after purchasing an additional 6,506 shares during the quarter. Lazard Asset Management LLC’s holdings in PACCAR were worth $760,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Waldron Private Wealth LLC raised its holdings in shares of PACCAR by 4.8% in the 1st quarter. Waldron Private Wealth LLC now owns 2,619 shares of the company’s stock worth $230,000 after purchasing an additional 119 shares during the period. Penserra Capital Management LLC lifted its position in shares of PACCAR by 8.2% during the 1st quarter. Penserra Capital Management LLC now owns 1,653 shares of the company’s stock valued at $145,000 after buying an additional 125 shares during the last quarter. McIlrath & Eck LLC lifted its position in shares of PACCAR by 1.0% during the 1st quarter. McIlrath & Eck LLC now owns 13,675 shares of the company’s stock valued at $1,204,000 after buying an additional 138 shares during the last quarter. Lakeside Advisors INC. grew its stake in shares of PACCAR by 1.0% during the 1st quarter. Lakeside Advisors INC. now owns 14,302 shares of the company’s stock worth $1,260,000 after acquiring an additional 140 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in PACCAR by 8.1% in the 1st quarter. Quadrant Capital Group LLC now owns 1,901 shares of the company’s stock worth $167,000 after acquiring an additional 142 shares during the last quarter. 64.17% of the stock is owned by institutional investors and hedge funds.

PACCAR Price Performance

PACCAR stock opened at $103.87 on Friday. The stock has a market cap of $36.12 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.27 and a beta of 0.90. The company has a quick ratio of 2.38, a current ratio of 2.66 and a debt-to-equity ratio of 0.55. The business has a 50-day simple moving average of $91.79 and a 200 day simple moving average of $88.14. PACCAR Inc has a 52 week low of $77.00 and a 52 week high of $104.97.

PACCAR (NASDAQ:PCARGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.00 by $0.21. The company had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.65 billion. PACCAR had a return on equity of 21.24% and a net margin of 9.50%. PACCAR’s revenue was up 41.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.08 earnings per share. On average, research analysts forecast that PACCAR Inc will post 8.15 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Tuesday, November 15th will be issued a $0.37 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.34. The ex-dividend date is Monday, November 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.42%. PACCAR’s dividend payout ratio is presently 19.81%.

Insider Activity

In related news, CFO Harrie Schippers sold 29,052 shares of the company’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $95.64, for a total value of $2,778,533.28. Following the completion of the transaction, the chief financial officer now directly owns 53,246 shares in the company, valued at $5,092,447.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PACCAR news, VP Todd R. Hubbard sold 491 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $95.00, for a total transaction of $46,645.00. Following the transaction, the vice president now directly owns 1,628 shares in the company, valued at $154,660. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Harrie Schippers sold 29,052 shares of PACCAR stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $95.64, for a total transaction of $2,778,533.28. Following the transaction, the chief financial officer now directly owns 53,246 shares in the company, valued at $5,092,447.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,443 shares of company stock worth $4,156,381. 2.05% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Vertical Research lowered shares of PACCAR from a “buy” rating to a “hold” rating and increased their target price for the stock from $100.00 to $102.00 in a research report on Wednesday, August 17th. StockNews.com raised shares of PACCAR from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of PACCAR from $95.00 to $97.00 in a report on Wednesday, October 26th. Raymond James raised their price target on PACCAR from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 20th. Finally, Morgan Stanley boosted their price objective on PACCAR from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.36.

PACCAR Profile

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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.

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Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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