Citizens Financial Group Inc. RI Acquires 425 Shares of PACCAR Inc (NASDAQ:PCAR)

Citizens Financial Group Inc. RI increased its holdings in PACCAR Inc (NASDAQ:PCAR) by 13.2% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,655 shares of the company’s stock after buying an additional 425 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in PACCAR were worth $376,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. State Board of Administration of Florida Retirement System raised its holdings in shares of PACCAR by 4.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock valued at $75,689,000 after purchasing an additional 27,963 shares during the last quarter. BDF Gestion bought a new stake in PACCAR in the 2nd quarter worth approximately $2,862,000. California State Teachers Retirement System raised its stake in PACCAR by 1.2% during the 4th quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock valued at $80,430,000 after buying an additional 9,978 shares during the last quarter. Advisory Services Network LLC lifted its holdings in shares of PACCAR by 15.9% during the 1st quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock valued at $6,944,000 after buying an additional 7,678 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of PACCAR by 18.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock worth $82,590,000 after buying an additional 105,109 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on PCAR. Truist Financial lowered their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. decreased their price target on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Finally, Citigroup cut their price objective on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $112.73.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the sale, the chief executive officer now directly owns 162,782 shares in the company, valued at $16,066,583.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.02% of the company’s stock.

PACCAR Trading Down 1.7 %

Shares of PCAR stock opened at $96.32 on Thursday. The stock has a fifty day simple moving average of $97.11 and a two-hundred day simple moving average of $106.34. The firm has a market capitalization of $50.49 billion, a PE ratio of 9.99, a PEG ratio of 1.47 and a beta of 0.91. PACCAR Inc has a 52-week low of $80.94 and a 52-week high of $125.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.30 billion. During the same quarter in the previous year, the business earned $2.33 EPS. The company’s quarterly revenue was down 2.1% on a year-over-year basis. On average, analysts predict that PACCAR Inc will post 8.08 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

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.