Harvest Fund Management Co. Ltd increased its position in shares of PACCAR Inc. (NASDAQ:PCAR – Free Report) by 21.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,214 shares of the company’s stock after acquiring an additional 6,986 shares during the period. Harvest Fund Management Co. Ltd’s holdings in PACCAR were worth $4,293,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Prudential PLC grew its position in PACCAR by 51.3% during the 4th quarter. Prudential PLC now owns 28,568 shares of the company’s stock worth $3,128,000 after acquiring an additional 9,686 shares during the last quarter. Deseret Mutual Benefit Administrators grew its position in shares of PACCAR by 9.9% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock valued at $97,000 after buying an additional 80 shares during the last quarter. Avise Financial Cooperative Inc. bought a new stake in shares of PACCAR in the 4th quarter valued at about $243,000. Vise Technologies Inc. grew its position in shares of PACCAR by 1.0% in the 4th quarter. Vise Technologies Inc. now owns 15,446 shares of the company’s stock valued at $1,691,000 after buying an additional 157 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of PACCAR by 5.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 131,907 shares of the company’s stock valued at $14,445,000 after buying an additional 7,168 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Truist Financial upped their price target on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. BNP Paribas Exane assumed coverage on PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target on the stock. Citigroup reiterated a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Finally, Evercore set a $139.00 price target on PACCAR in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $122.00.
PACCAR Stock Up 3.2%
Shares of NASDAQ:PCAR opened at $118.07 on Friday. The company has a market capitalization of $62.14 billion, a price-to-earnings ratio of 25.12, a P/E/G ratio of 1.06 and a beta of 0.98. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The business’s 50-day moving average is $117.35 and its 200-day moving average is $116.79. PACCAR Inc. has a 1 year low of $90.05 and a 1 year high of $131.88.
PACCAR (NASDAQ:PCAR – Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.15. The company had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm’s revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 EPS. Equities research analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current year.
PACCAR Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is presently 29.79%.
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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