PACCAR Inc. $PCAR Shares Acquired by Park National Corp OH

Park National Corp OH increased its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 105.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,250 shares of the company’s stock after purchasing an additional 15,007 shares during the period. Park National Corp OH’s holdings in PACCAR were worth $3,378,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC acquired a new position in shares of PACCAR during the 4th quarter valued at $27,000. MCF Advisors LLC raised its stake in shares of PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after buying an additional 92 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in shares of PACCAR in the fourth quarter valued at $30,000. Wealth Watch Advisors INC acquired a new stake in shares of PACCAR in the third quarter valued at $32,000. Finally, Camelot Portfolios LLC bought a new position in PACCAR during the fourth quarter valued at about $33,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Evercore set a $139.00 target price on PACCAR in a report on Monday, May 11th. Citigroup reissued a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. lowered their price objective on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus price target of $122.00.

PACCAR Stock Performance

PCAR opened at $118.95 on Friday. The firm has a market cap of $62.60 billion, a PE ratio of 25.31, a P/E/G ratio of 1.10 and a beta of 0.98. 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 has a fifty day simple moving average of $117.64 and a 200-day simple moving average of $118.00. PACCAR Inc. has a fifty-two week low of $90.05 and a fifty-two week high of $131.88.

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 analysts’ consensus estimates of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the previous year, the firm posted $1.46 EPS. The company’s quarterly revenue was down 9.8% on a year-over-year basis. As a group, equities analysts predict that PACCAR Inc. will post 5.59 EPS for the current fiscal 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 issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, May 13th. This is a boost from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio is presently 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.