Hsbc Holdings PLC Cuts Position in PACCAR Inc. $PCAR

Hsbc Holdings PLC reduced its position in PACCAR Inc. (NASDAQ:PCAR) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,678,776 shares of the company’s stock after selling 53,404 shares during the quarter. Hsbc Holdings PLC’s holdings in PACCAR were worth $183,941,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PCAR. Brighton Jones LLC raised its holdings in PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after buying an additional 290 shares during the period. Focus Partners Wealth grew its stake in PACCAR by 15.4% during the first quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after buying an additional 1,812 shares during the period. Treasurer of the State of North Carolina grew its stake in PACCAR by 2.3% during the second quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock worth $22,886,000 after buying an additional 5,327 shares during the period. Ieq Capital LLC increased its position in shares of PACCAR by 11.5% in the second quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after acquiring an additional 3,858 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of PACCAR in the second quarter worth $81,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

PCAR opened at $118.95 on Friday. The firm has a market capitalization of $62.60 billion, a P/E ratio of 25.31, a P/E/G ratio of 1.10 and a beta of 0.98. The firm’s 50 day moving average is $117.64 and its 200-day moving average is $118.00. PACCAR Inc. has a 52-week low of $90.05 and a 52-week high of $131.88. 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 posted its earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 earnings per share. Analysts expect that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were paid a dividend of $0.35 per share. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.2%. PACCAR’s payout ratio is presently 29.79%.

Analyst Ratings Changes

A number of equities analysts have recently commented on PCAR shares. Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Evercore set a $139.00 price target on PACCAR in a report on Monday, May 11th. JPMorgan Chase & Co. cut their price objective on PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Finally, Citigroup restated a “neutral” rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $122.00.

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.