Harvest Fund Management Co. Ltd Acquires 6,986 Shares of PACCAR Inc. $PCAR

Harvest Fund Management Co. Ltd lifted its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 21.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,214 shares of the company’s stock after acquiring an additional 6,986 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in PACCAR were worth $4,293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Brighton Jones LLC boosted its stake in shares of PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after acquiring an additional 290 shares during the period. Focus Partners Wealth boosted its stake in shares of PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after acquiring an additional 1,812 shares during the period. Treasurer of the State of North Carolina boosted its stake in shares of PACCAR by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock worth $22,886,000 after acquiring an additional 5,327 shares during the period. Ieq Capital LLC lifted its holdings in PACCAR by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after purchasing an additional 3,858 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in PACCAR during the 2nd quarter worth approximately $81,000. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PCAR. Citigroup reissued a “neutral” rating and set a $125.00 price target (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Truist Financial lifted their price target on PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Evercore set a $139.00 price target on PACCAR in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. dropped 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 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 MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $122.00.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $118.07 on Friday. The stock has a market capitalization of $62.14 billion, a PE ratio of 25.12, a P/E/G ratio of 1.06 and a beta of 0.98. 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 business has a fifty day moving average price of $117.35 and a two-hundred day moving average price of $116.79. PACCAR Inc. has a fifty-two week low of $90.05 and a fifty-two week high of $131.88.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (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 company had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter last year, the company posted $1.46 EPS. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, equities analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were given 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 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%.

PACCAR Company 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.