Lombard Odier Asset Management USA Corp Makes New $2.24 Million Investment in PACCAR Inc. $PCAR

Lombard Odier Asset Management USA Corp bought a new position in PACCAR Inc. (NASDAQ:PCAR) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 20,433 shares of the company’s stock, valued at approximately $2,238,000.

A number of other large investors have also recently modified their holdings of PCAR. Brighton Jones LLC boosted its position in shares of PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after acquiring an additional 290 shares during the last quarter. Focus Partners Wealth boosted its position in shares of PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after acquiring an additional 1,812 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in shares of PACCAR by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock valued at $22,886,000 after acquiring an additional 5,327 shares during the last quarter. Ieq Capital LLC boosted its position in shares of PACCAR by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock valued at $3,556,000 after acquiring an additional 3,858 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of PACCAR during the 2nd quarter valued at about $81,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR stock opened at $121.04 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. PACCAR Inc. has a fifty-two week low of $90.05 and a fifty-two week high of $131.88. The stock has a 50 day moving average price of $117.75 and a two-hundred day moving average price of $117.81. The company has a market capitalization of $63.70 billion, a P/E ratio of 25.75, a PEG ratio of 1.12 and a beta of 0.98.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data 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 quarter in the previous year, the company posted $1.46 earnings per share. The business’s revenue was down 9.8% on a year-over-year basis. Analysts expect that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently disclosed 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 an increase from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.2%. PACCAR’s dividend payout ratio is presently 29.79%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PCAR. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the company an “equal weight” 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 report on Thursday, May 21st. JPMorgan Chase & Co. dropped their price target on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Finally, Citigroup reiterated a “neutral” rating and set a $125.00 price target (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, PACCAR currently 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.