Ritholtz Wealth Management Raises Stake in PACCAR Inc. (NASDAQ:PCAR)

Ritholtz Wealth Management increased its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 6.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,072 shares of the company’s stock after buying an additional 524 shares during the period. Ritholtz Wealth Management’s holdings in PACCAR were worth $786,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Farmers & Merchants Investments Inc. raised its holdings in shares of PACCAR by 33.1% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company’s stock worth $45,000 after purchasing an additional 116 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in PACCAR by 1.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 388,557 shares of the company’s stock valued at $37,834,000 after purchasing an additional 4,519 shares during the period. New England Research & Management Inc. bought a new stake in shares of PACCAR in the first quarter valued at $1,008,000. RMR Wealth Builders lifted its position in shares of PACCAR by 1.4% during the 1st quarter. RMR Wealth Builders now owns 8,713 shares of the company’s stock valued at $848,000 after buying an additional 122 shares during the last quarter. Finally, Net Worth Advisory Group increased its holdings in PACCAR by 1.5% in the 1st quarter. Net Worth Advisory Group now owns 16,150 shares of the company’s stock worth $1,573,000 after acquiring an additional 246 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. UBS Group cut shares of PACCAR from a “neutral” rating to a “sell” rating and lowered their target price for the company from $108.00 to $78.00 in a report on Monday, April 7th. Citigroup cut their price target on PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, Morgan Stanley lowered PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price objective on the stock. in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $104.14.

PACCAR Stock Down 0.4%

Shares of NASDAQ PCAR opened at $90.72 on Thursday. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average of $92.08 and a 200-day moving average of $100.86. The firm has a market capitalization of $47.62 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 3.37 and a beta of 0.95. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $118.81.

PACCAR (NASDAQ:PCAR) last released 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). The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.13 billion. PACCAR had a return on equity of 20.79% and a net margin of 10.73%. PACCAR’s quarterly revenue was down 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.27 EPS. Sell-side analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.46%. The ex-dividend date was Wednesday, May 14th. PACCAR’s dividend payout ratio (DPR) is currently 20.00%.

Insiders Place Their Bets

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