Rakuten Investment Management Inc. Increases Stock Holdings in PACCAR Inc. $PCAR

Rakuten Investment Management Inc. increased its holdings in PACCAR Inc. (NASDAQ:PCAR) by 13.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,435 shares of the company’s stock after acquiring an additional 11,884 shares during the quarter. Rakuten Investment Management Inc.’s holdings in PACCAR were worth $10,858,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC purchased a new stake in PACCAR in the fourth quarter worth $27,000. MCF Advisors LLC lifted its stake in PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after acquiring an additional 92 shares during the period. Elyxium Wealth LLC purchased a new stake in PACCAR in the fourth quarter worth $30,000. Wealth Watch Advisors INC purchased a new stake in PACCAR in the third quarter worth $32,000. Finally, Camelot Portfolios LLC purchased a new position in PACCAR during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $121.04 on Wednesday. PACCAR Inc. has a 1-year low of $90.05 and a 1-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 business has a fifty day moving average price of $117.75 and a 200-day moving average price of $117.81. The company has a market capitalization of $63.70 billion, a PE ratio of 25.75, a PEG ratio of 1.12 and a beta of 0.98.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share 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 period last year, the company earned $1.46 earnings per share. The company’s revenue was down 9.8% on a year-over-year basis. As a group, equities analysts expect that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders 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 a boost from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. PACCAR’s dividend payout ratio is 29.79%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. Evercore set a $139.00 price objective on PACCAR in a research report on Monday, May 11th. Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. Truist Financial raised their price objective on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Finally, BNP Paribas Exane assumed coverage on PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Hold” and a consensus price target of $122.00.

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.