Vanguard Personalized Indexing Management LLC boosted its stake in PACCAR Inc. (NASDAQ:PCAR – Free Report) by 7.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,535 shares of the company’s stock after purchasing an additional 5,473 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in PACCAR were worth $8,710,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of PACCAR by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after buying an additional 363,782 shares during the last quarter. State Street Corp increased its holdings in shares of PACCAR by 0.4% in the 4th quarter. State Street Corp now owns 22,497,197 shares of the company’s stock worth $2,494,269,000 after buying an additional 94,869 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of PACCAR by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after buying an additional 50,622 shares during the last quarter. Norges Bank bought a new stake in shares of PACCAR in the 4th quarter worth about $727,745,000. Finally, Capital Research Global Investors increased its holdings in shares of PACCAR by 0.8% in the 4th quarter. Capital Research Global Investors now owns 6,016,243 shares of the company’s stock worth $658,839,000 after buying an additional 45,090 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.
PACCAR Stock Performance
Shares of NASDAQ:PCAR opened at $120.69 on Tuesday. The company has a market capitalization of $63.52 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.10 and a beta of 0.98. PACCAR Inc. has a 12 month low of $90.05 and a 12 month high of $131.88. The firm’s 50-day moving average is $117.69 and its 200 day moving average is $117.70. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52.
PACCAR Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were paid a $0.35 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s payout ratio is currently 29.79%.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Evercore set a $139.00 target price on shares of PACCAR in a report on Monday, May 11th. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. BNP Paribas Exane started coverage on shares of PACCAR in a report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price target on the stock. 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 investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and a consensus target price of $122.00.
Check Out Our Latest Stock Analysis on PACCAR
About PACCAR
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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