Jefferies Financial Group Inc. Acquires New Holdings in PACCAR Inc. $PCAR

Jefferies Financial Group Inc. acquired a new stake in PACCAR Inc. (NASDAQ:PCAR) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 215,974 shares of the company’s stock, valued at approximately $23,651,000.

Several other institutional investors and hedge funds have also modified their holdings of PCAR. Meiji Yasuda Asset Management Co Ltd. lifted its stake in PACCAR by 1.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,447 shares of the company’s stock valued at $1,254,000 after acquiring an additional 165 shares in the last quarter. Global Retirement Partners LLC lifted its stake in PACCAR by 25.3% in the 4th quarter. Global Retirement Partners LLC now owns 5,706 shares of the company’s stock valued at $625,000 after acquiring an additional 1,152 shares in the last quarter. Fortis Group Advisors LLC bought a new stake in PACCAR in the 4th quarter valued at approximately $1,650,000. Hi Line Capital Management LLC lifted its stake in PACCAR by 5.8% in the 4th quarter. Hi Line Capital Management LLC now owns 42,073 shares of the company’s stock valued at $4,664,000 after acquiring an additional 2,296 shares in the last quarter. Finally, Leonteq Securities AG bought a new stake in PACCAR in the 4th quarter valued at approximately $47,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Citigroup restated a “neutral” rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. JPMorgan Chase & Co. cut their target price on PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Truist Financial boosted their target price on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Wells Fargo & Company set a $125.00 target price on PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $122.00.

PACCAR Trading Up 0.0%

Shares of PACCAR stock opened at $109.35 on Friday. PACCAR Inc. has a 12-month low of $90.05 and a 12-month high of $131.88. The stock has a market cap of $57.55 billion, a P/E ratio of 23.27, a P/E/G ratio of 1.02 and a beta of 1.02. 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 business’s 50 day moving average is $117.77 and its 200-day moving average is $115.75.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $6.44 billion. During the same quarter in the prior year, the business posted $1.46 EPS. The business’s revenue was down 9.8% compared to the same quarter last year. Equities research analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business 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. The ex-dividend date is Wednesday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.

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.