PACCAR Inc. $PCAR is Mengis Capital Management Inc.’s 9th Largest Position

Mengis Capital Management Inc. lifted its position in PACCAR Inc. (NASDAQ:PCAR) by 16.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,486 shares of the company’s stock after purchasing an additional 15,440 shares during the quarter. PACCAR comprises about 2.1% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 9th biggest position. Mengis Capital Management Inc.’s holdings in PACCAR were worth $12,209,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. California Public Employees Retirement System increased its position in PACCAR by 0.8% in the third quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company’s stock worth $105,725,000 after purchasing an additional 9,045 shares during the last quarter. Merit Financial Group LLC raised its stake in PACCAR by 165.8% during the fourth quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock valued at $2,663,000 after purchasing an additional 15,169 shares in the last quarter. Nordea Investment Management AB lifted its position in PACCAR by 12.6% during the fourth quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock valued at $13,487,000 after purchasing an additional 13,668 shares during the last quarter. Vanguard Group Inc. lifted its position in 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 purchasing an additional 363,782 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of PACCAR by 2.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock worth $45,281,000 after buying an additional 9,524 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PCAR has been the topic of a number of research reports. Evercore set a $139.00 target price on shares of PACCAR in a report on Monday, May 11th. Wells Fargo & Company set a $125.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Truist Financial lifted their price target on PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a research report 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 note on Thursday, April 30th. Finally, BNP Paribas Exane began coverage on PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, PACCAR presently has an average rating of “Hold” and a consensus price target of $122.00.

PACCAR Price Performance

NASDAQ PCAR 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. PACCAR Inc. has a 52 week low of $90.05 and a 52 week high of $131.88. The firm has a market capitalization of $62.60 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 1.10 and a beta of 0.98. The company has a fifty day moving average of $117.64 and a two-hundred day moving average of $118.00.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, meeting the consensus estimate of $1.15. The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 earnings per share. On average, analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were given a $0.35 dividend. This is an increase 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 dividend on an annualized basis and a yield of 1.2%. PACCAR’s dividend payout ratio 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.