Swiss Life Asset Management Ltd Has $69.94 Million Stock Holdings in PACCAR Inc. $PCAR

Swiss Life Asset Management Ltd boosted its stake in PACCAR Inc. (NASDAQ:PCAR) by 118.2% in the fourth quarter, HoldingsChannel reports. The firm owned 638,688 shares of the company’s stock after buying an additional 345,937 shares during the period. Swiss Life Asset Management Ltd’s holdings in PACCAR were worth $69,943,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Asahi Life Asset Management CO. LTD. acquired a new stake in PACCAR in the fourth quarter worth $491,000. Bensler LLC acquired a new stake in PACCAR in the fourth quarter worth $220,000. NewEdge Wealth LLC acquired a new stake in PACCAR in the fourth quarter worth $448,000. Denali Advisors LLC grew its holdings in PACCAR by 10.6% in the fourth quarter. Denali Advisors LLC now owns 8,350 shares of the company’s stock worth $914,000 after purchasing an additional 800 shares during the period. Finally, Crossmark Global Holdings Inc. grew its holdings in PACCAR by 18.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,508 shares of the company’s stock worth $3,231,000 after purchasing an additional 4,619 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In related news, CFO Brice J. Poplawski sold 2,200 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $130.41, for a total transaction of $286,902.00. Following the completion of the sale, the chief financial officer owned 903 shares in the company, valued at approximately $117,760.23. This represents a 70.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.99% of the company’s stock.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several recent research reports. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Citigroup restated a “neutral” rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Truist Financial boosted their price objective on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Company set a $125.00 price objective on 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 given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $119.73.

PACCAR Stock Performance

NASDAQ PCAR opened at $114.31 on Monday. The company has a market cap of $60.16 billion, a price-to-earnings ratio of 24.32, a P/E/G ratio of 1.06 and a beta of 1.02. PACCAR Inc. has a 52 week low of $90.05 and a 52 week high of $131.88. The business has a 50 day moving average price of $120.18 and a 200-day moving average price of $114.92. 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) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting the consensus estimate 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 quarter in the previous year, the company posted $1.46 earnings per share. The company’s quarterly revenue was down 9.8% on a year-over-year basis. As a group, equities analysts expect that PACCAR Inc. will post 5.6 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared 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 annualized dividend and a yield of 1.2%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, May 13th. PACCAR’s dividend payout ratio is currently 28.09%.

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.