North Dakota State Investment Board acquired a new stake in PACCAR Inc. (NASDAQ:PCAR – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,666 shares of the company’s stock, valued at approximately $1,935,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. California Public Employees Retirement System increased its holdings in PACCAR by 0.8% in the third quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company’s stock valued at $105,725,000 after purchasing an additional 9,045 shares during the period. Merit Financial Group LLC raised its position in shares of PACCAR by 165.8% in the 4th quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock worth $2,663,000 after acquiring an additional 15,169 shares in the last quarter. National Pension Service lifted its stake in shares of PACCAR by 5.5% in the 3rd quarter. National Pension Service now owns 939,146 shares of the company’s stock valued at $92,337,000 after purchasing an additional 48,711 shares during the period. AE Wealth Management LLC lifted its stake in shares of PACCAR by 29.1% in the 3rd quarter. AE Wealth Management LLC now owns 39,594 shares of the company’s stock valued at $3,893,000 after purchasing an additional 8,932 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of PACCAR by 12.6% during the 4th quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock valued at $13,487,000 after purchasing an additional 13,668 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.
PACCAR Stock Up 1.2%
Shares of NASDAQ:PCAR opened at $111.68 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. PACCAR Inc. has a 52-week low of $90.05 and a 52-week high of $131.88. The business’s 50 day simple moving average is $118.54 and its two-hundred day simple moving average is $115.55. The firm has a market cap of $58.78 billion, a P/E ratio of 23.76, a PEG ratio of 1.02 and a beta of 1.02.
PACCAR Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is 29.79%.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on PCAR shares. Citigroup reiterated a “neutral” rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. JPMorgan Chase & Co. cut their price target on PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. BNP Paribas Exane assumed coverage on shares of PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 target price on the stock. Finally, Morgan Stanley set a $109.00 target price on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, PACCAR has an average rating of “Hold” and an average target price of $122.00.
Get Our Latest Report on PACCAR
PACCAR Company Profile
PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.
In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.
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