Sequoia Financial Advisors LLC lifted its holdings in PACCAR Inc. (NASDAQ:PCAR – Free Report) by 63.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,778 shares of the company’s stock after buying an additional 5,756 shares during the period. Sequoia Financial Advisors LLC’s holdings in PACCAR were worth $1,618,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. UBS Group AG grew its position in PACCAR by 74.4% in the fourth quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock worth $498,146,000 after acquiring an additional 1,940,260 shares in the last quarter. American Century Companies Inc. raised its position in PACCAR by 235.9% during the third quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock valued at $249,801,000 after purchasing an additional 1,784,236 shares during the period. Capital Research Global Investors lifted its stake in shares of PACCAR by 20.3% in the 3rd quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock valued at $587,084,000 after purchasing an additional 1,009,134 shares during the last quarter. Capital World Investors boosted its holdings in shares of PACCAR by 11,269.8% in the 3rd quarter. Capital World Investors now owns 807,712 shares of the company’s stock worth $79,414,000 after purchasing an additional 800,608 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of PACCAR in the 3rd quarter worth approximately $76,435,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.
PACCAR Price Performance
PCAR opened at $112.96 on Tuesday. The business has a fifty day moving average of $119.75 and a 200 day moving average of $115.13. The stock has a market cap of $59.45 billion, a P/E ratio of 24.03, a PEG ratio of 1.06 and a beta of 1.02. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a 52-week low of $90.05 and a 52-week high of $131.88.
PACCAR Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is 28.09%.
Analyst Ratings Changes
Several analysts recently weighed in on the company. Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Citigroup reiterated a “neutral” rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Evercore set a $139.00 target price on shares of PACCAR in a report on Monday. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Wells Fargo & Company set a $125.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $122.00.
Check Out Our Latest Analysis on PACCAR
Insider Transactions at PACCAR
In other PACCAR news, CFO Brice J. Poplawski sold 2,200 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $130.41, for a total value of $286,902.00. Following the completion of the sale, the chief financial officer directly owned 903 shares of the company’s stock, valued at $117,760.23. The trade was a 70.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.99% of the stock is currently owned by company insiders.
PACCAR 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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