Capital Research Global Investors Boosts Stock Holdings in PACCAR Inc. $PCAR

Capital Research Global Investors grew its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,016,243 shares of the company’s stock after buying an additional 45,090 shares during the quarter. Capital Research Global Investors’ holdings in PACCAR were worth $658,839,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of PACCAR by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after buying an additional 363,782 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of PACCAR by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock valued at $1,350,867,000 after buying an additional 50,622 shares during the last quarter. Norges Bank purchased a new stake in shares of PACCAR during the fourth quarter valued at approximately $727,745,000. Invesco Ltd. grew its holdings in shares of PACCAR by 3.5% during the third quarter. Invesco Ltd. now owns 5,396,888 shares of the company’s stock valued at $530,622,000 after buying an additional 184,502 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of PACCAR by 74.4% during the fourth 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 last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR stock opened at $116.68 on Monday. PACCAR Inc. has a 12-month low of $90.05 and a 12-month high of $131.88. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. The firm’s 50 day moving average is $117.35 and its 200 day moving average is $116.94. The stock has a market capitalization of $61.41 billion, a P/E ratio of 24.83, a P/E/G ratio of 1.08 and a beta of 0.98.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter last year, the company posted $1.46 earnings per share. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. Research analysts expect that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were given a $0.35 dividend. 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 yield of 1.2%. PACCAR’s payout ratio is 29.79%.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of recent analyst reports. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Citigroup reiterated 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. Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Wells Fargo & Company set a $125.00 target price on shares of PACCAR and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. Finally, Truist Financial raised their target price on shares of PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. One research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.