Geode Capital Management LLC Boosts Stake in PACCAR Inc. $PCAR

Geode Capital Management LLC raised its position in PACCAR Inc. (NASDAQ:PCAR) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,308,610 shares of the company’s stock after purchasing an additional 50,622 shares during the quarter. Geode Capital Management LLC’s holdings in PACCAR were worth $1,350,867,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PCAR. UBS Group AG raised its position in PACCAR by 74.4% in the 4th quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock worth $498,146,000 after purchasing an additional 1,940,260 shares during the period. American Century Companies Inc. raised its position in PACCAR by 235.9% in the 3rd quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock worth $249,801,000 after purchasing an additional 1,784,236 shares during the period. Capital Research Global Investors raised its position in PACCAR by 20.3% in the 3rd quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock worth $587,084,000 after purchasing an additional 1,009,134 shares during the period. Capital World Investors increased its position in shares of PACCAR by 11,269.8% during the third quarter. Capital World Investors now owns 807,712 shares of the company’s stock worth $79,414,000 after acquiring an additional 800,608 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of PACCAR during the third quarter worth approximately $76,435,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

Shares of NASDAQ:PCAR opened at $112.22 on Friday. The firm has a market cap of $59.06 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.04 and a beta of 1.02. The firm’s 50 day simple moving average is $117.42 and its 200-day simple moving average is $116.24. PACCAR Inc. has a one year low of $90.05 and a one year high of $131.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11.

PACCAR (NASDAQ:PCAR) last released 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. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period last year, the firm earned $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 predict that PACCAR Inc. will post 5.59 EPS for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be paid a dividend of $0.35 per share. This is a boost from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, May 13th. PACCAR’s payout ratio is 29.79%.

Analysts Set New Price Targets

PCAR has been the topic of a number of research reports. Evercore set a $139.00 target price on shares of PACCAR in a research report on Monday, May 11th. Wells Fargo & Company set a $125.00 target price on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Finally, Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, PACCAR has a consensus rating of “Hold” and an average target price of $122.00.

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.