Pictet Asset Management Holding SA trimmed its holdings in PACCAR Inc. (NASDAQ:PCAR – Free Report) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,958 shares of the company’s stock after selling 8,997 shares during the period. Pictet Asset Management Holding SA’s holdings in PACCAR were worth $27,831,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of PACCAR during the 4th quarter worth about $727,745,000. Wellington Management Group LLP increased its holdings in PACCAR by 18.6% in the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after buying an additional 3,597,283 shares during the period. UBS Group AG increased its stake in PACCAR by 74.4% in the fourth quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock valued at $498,146,000 after acquiring an additional 1,940,260 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of PACCAR by 129.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,275,921 shares of the company’s stock worth $249,237,000 after buying an additional 1,286,056 shares in the last quarter. Finally, Focus Partners Wealth raised its stake in PACCAR by 17,292.6% during the fourth quarter. Focus Partners Wealth now owns 1,202,700 shares of the company’s stock worth $131,725,000 after acquiring an additional 1,195,785 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the stock. Wells Fargo & Company set a $125.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Truist Financial lifted their price objective on PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Evercore set a $139.00 price objective on shares of PACCAR in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. lowered their price target on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. One equities 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $122.00.
PACCAR Trading Up 0.9%
Shares of NASDAQ:PCAR opened at $121.24 on Thursday. The company’s 50-day moving average price is $116.59 and its two-hundred day moving average price is $118.66. PACCAR Inc. has a one year low of $92.25 and a one year high of $131.88. 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 stock has a market capitalization of $63.81 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97.
PACCAR (NASDAQ:PCAR – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same period last year, the company earned $1.46 earnings per share. The business’s revenue was down 9.8% compared to the same quarter last year. On average, equities analysts forecast that PACCAR Inc. will post 5.59 EPS for the current fiscal year.
PACCAR Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, May 13th. This is an increase from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. PACCAR’s dividend payout ratio is 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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