PACCAR Inc. $PCAR Stock Position Raised by Park National Corp OH

Park National Corp OH increased its position in PACCAR Inc. (NASDAQ:PCAR) by 105.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 29,250 shares of the company’s stock after purchasing an additional 15,007 shares during the period. Park National Corp OH’s holdings in PACCAR were worth $3,378,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PCAR. Norges Bank acquired a new position in PACCAR in the 4th quarter valued at approximately $727,745,000. Wellington Management Group LLP lifted its position in PACCAR by 18.6% in the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock worth $2,516,272,000 after buying an additional 3,597,283 shares in the last quarter. UBS Group AG boosted its stake in shares of PACCAR by 74.4% during the 4th quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock valued at $498,146,000 after buying an additional 1,940,260 shares during the period. American Century Companies Inc. boosted its stake in shares of PACCAR by 235.9% during the 3rd quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock valued at $249,801,000 after buying an additional 1,784,236 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of PACCAR by 129.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,275,921 shares of the company’s stock valued at $249,237,000 after acquiring an additional 1,286,056 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Performance

PCAR stock opened at $118.95 on Friday. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $62.60 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 1.10 and a beta of 0.98. PACCAR Inc. has a 12 month low of $90.05 and a 12 month high of $131.88. The firm has a 50 day moving average of $117.64 and a two-hundred day moving average of $118.00.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. The company had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. PACCAR’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.46 EPS. As a group, equities analysts anticipate that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed 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. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, May 13th. This is a boost from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s payout ratio is 29.79%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company set a $125.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Citigroup reissued a “neutral” rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Truist Financial lifted 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. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, BNP Paribas Exane assumed coverage on PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.