Gamco Investors INC. ET AL Acquires 8,125 Shares of PACCAR Inc. $PCAR

Gamco Investors INC. ET AL grew its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 27.7% in the second quarter, Holdings Channel reports. The firm owned 37,424 shares of the company’s stock after acquiring an additional 8,125 shares during the period. Gamco Investors INC. ET AL’s holdings in PACCAR were worth $3,558,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. lifted its holdings in PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after buying an additional 100 shares in the last quarter. Fidelis Capital Partners LLC grew its stake in PACCAR by 2.9% in the 2nd quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock worth $366,000 after acquiring an additional 105 shares in the last quarter. Intellectus Partners LLC increased its position in shares of PACCAR by 1.0% during the second quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock worth $1,015,000 after acquiring an additional 109 shares during the period. Focus Partners Advisor Solutions LLC increased its position in shares of PACCAR by 1.2% during the second quarter. Focus Partners Advisor Solutions LLC now owns 9,645 shares of the company’s stock worth $917,000 after acquiring an additional 116 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in shares of PACCAR by 43.8% during the second quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock valued at $42,000 after acquiring an additional 134 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Trading Down 0.7%

PCAR opened at $108.91 on Wednesday. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.56. The firm has a market cap of $57.20 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 15.01 and a beta of 1.01. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $116.86. The stock has a fifty day moving average price of $99.73 and a 200-day moving average price of $98.02.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. PACCAR’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 EPS. As a group, equities research analysts anticipate that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, February 11th. PACCAR’s dividend payout ratio (DPR) is 25.83%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PCAR shares. Raymond James Financial reissued a “market perform” rating on shares of PACCAR in a research note on Tuesday, October 21st. Truist Financial upped their target price on PACCAR from $97.00 to $108.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Wall Street Zen lowered PACCAR from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Jefferies Financial Group restated a “hold” rating and issued a $90.00 price objective on shares of PACCAR in a report on Tuesday, October 21st. Finally, Zacks Research lowered shares of PACCAR from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus price target of $107.96.

Insider Transactions at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the sale, the chief financial officer owned 468 shares of the company’s stock, valued at $47,338.20. This trade represents a 87.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.02% of the company’s stock.

PACCAR Profile

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.