Rakuten Investment Management Inc. increased its holdings in PACCAR Inc. (NASDAQ:PCAR – Free Report) by 13.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 97,435 shares of the company’s stock after buying an additional 11,884 shares during the quarter. Rakuten Investment Management Inc.’s holdings in PACCAR were worth $10,858,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of PCAR. Ares Financial Consulting LLC bought a new stake in PACCAR in the 4th quarter worth about $27,000. MCF Advisors LLC increased its holdings in PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after buying an additional 92 shares in the last quarter. Elyxium Wealth LLC bought a new stake in PACCAR in the 4th quarter worth about $30,000. Wealth Watch Advisors INC bought a new stake in PACCAR in the 3rd quarter worth about $32,000. Finally, Camelot Portfolios LLC bought a new stake in PACCAR in the 4th quarter worth about $33,000. 64.90% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. BNP Paribas Exane assumed coverage on PACCAR in a report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price objective for the company. Evercore set a $139.00 price objective on PACCAR in a report on Monday, May 11th. Finally, Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $122.00.
PACCAR Trading Up 0.3%
PACCAR stock opened at $121.04 on Wednesday. The business has a 50-day simple moving average of $117.75 and a two-hundred day simple moving average of $117.81. The company has a market cap of $63.70 billion, a P/E ratio of 25.75, a P/E/G ratio of 1.12 and a beta of 0.98. PACCAR Inc. has a 52-week low of $90.05 and a 52-week high of $131.88. 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 (NASDAQ:PCAR – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.15. The business had revenue of $6.78 billion during 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 business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 EPS. Analysts predict that PACCAR Inc. will post 5.59 EPS for the current year.
PACCAR Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio is presently 29.79%.
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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