Swiss National Bank Acquires 102,400 Shares of PACCAR Inc. $PCAR

Swiss National Bank raised its holdings in PACCAR Inc. (NASDAQ:PCAR) by 7.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,541,325 shares of the company’s stock after purchasing an additional 102,400 shares during the quarter. Swiss National Bank’s holdings in PACCAR were worth $178,023,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Ares Financial Consulting LLC bought a new stake in shares of PACCAR during the 4th quarter worth $27,000. MCF Advisors LLC grew its position in PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after acquiring an additional 92 shares during the last quarter. Steph & Co. bought a new position in PACCAR in the first quarter valued at about $29,000. Elyxium Wealth LLC acquired a new position in PACCAR during the fourth quarter worth about $30,000. Finally, Wealth Watch Advisors INC acquired a new position in PACCAR during the third quarter worth about $32,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

PACCAR stock opened at $126.20 on Monday. The business has a 50 day moving average of $117.32 and a 200-day moving average of $119.66. The company has a market capitalization of $66.42 billion, a P/E ratio of 26.85, a P/E/G ratio of 1.16 and a beta of 0.97. PACCAR Inc. has a 1 year low of $92.25 and a 1 year high of $131.88. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 28th. The company reported $1.15 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 business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period last year, the company earned $1.46 EPS. The firm’s revenue was down 9.8% compared to the same quarter last year. On average, equities research analysts predict that PACCAR Inc. will post 5.65 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is presently 29.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PCAR shares. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Citigroup reiterated 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. JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Evercore set a $139.00 price objective on shares of PACCAR in a research note on Monday, May 11th. Finally, Wells Fargo & Company set a $125.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. One 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $124.18.

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.