Lombard Odier Asset Management USA Corp Takes $2.24 Million Position in PACCAR Inc. $PCAR

Lombard Odier Asset Management USA Corp bought a new stake in shares of PACCAR Inc. (NASDAQ:PCAR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,433 shares of the company’s stock, valued at approximately $2,238,000.

Other large investors have also recently made changes to their positions in the company. Ares Financial Consulting LLC purchased a new stake in shares of PACCAR during the 4th quarter valued at $27,000. MCF Advisors LLC increased its holdings in PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after acquiring an additional 92 shares during the last quarter. Elyxium Wealth LLC purchased a new stake in PACCAR in the 4th quarter worth about $30,000. Wealth Watch Advisors INC purchased a new stake in PACCAR in the 3rd quarter worth about $32,000. Finally, Camelot Portfolios LLC purchased a new stake in PACCAR in the 4th quarter worth about $33,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Up 0.3%

Shares of NASDAQ PCAR opened at $121.04 on Wednesday. PACCAR Inc. has a 52 week low of $90.05 and a 52 week high of $131.88. The business has a 50-day simple moving average of $117.75 and a two-hundred day simple moving average of $117.81. 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 company has a market cap of $63.70 billion, a P/E ratio of 25.75, a P/E/G ratio of 1.12 and a beta of 0.98.

PACCAR (NASDAQ:PCAR) last issued 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 return on equity of 12.81% and a net margin of 8.91%.The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter last year, the company earned $1.46 EPS. The firm’s revenue was down 9.8% compared to the same quarter last year. Research analysts anticipate that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were paid a $0.35 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.2%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio is 29.79%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PCAR. Truist Financial lifted their price objective on PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. BNP Paribas Exane began coverage on PACCAR in a report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price objective for the company. Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Evercore set a $139.00 price objective on PACCAR in a report on Monday, May 11th. Finally, Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. One equities research 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 stock. Based on data from MarketBeat.com, PACCAR has an average rating of “Hold” and an average target price of $122.00.

PACCAR 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.