Paradiem LLC Lowers Position in PACCAR Inc. $PCAR

Paradiem LLC cut its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 3.8% during the 1st quarter, HoldingsChannel reports. The firm owned 109,870 shares of the company’s stock after selling 4,338 shares during the period. PACCAR accounts for about 2.8% of Paradiem LLC’s investment portfolio, making the stock its 18th biggest holding. Paradiem LLC’s holdings in PACCAR were worth $12,690,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California Public Employees Retirement System increased its stake in shares of PACCAR by 0.8% during the third quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company’s stock valued at $105,725,000 after purchasing an additional 9,045 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position 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 purchasing an additional 9,524 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of PACCAR by 12.6% in the 4th quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock worth $13,487,000 after buying an additional 13,668 shares during the last quarter. Merit Financial Group LLC grew its stake in shares of PACCAR by 165.8% in the 4th quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock worth $2,663,000 after buying an additional 15,169 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in PACCAR by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after buying an additional 363,782 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PCAR shares. Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Evercore set a $139.00 price target on PACCAR in a report on Monday, May 11th. Weiss Ratings lowered 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 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, Citigroup reissued 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. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $122.45.

PACCAR Price Performance

PACCAR stock opened at $124.57 on Monday. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $131.88. The stock has a fifty day simple moving average of $116.38 and a two-hundred day simple moving average of $119.19. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. The firm has a market cap of $65.56 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 1.16 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the prior year, the company posted $1.46 earnings per share. The company’s quarterly revenue was down 9.8% on a year-over-year basis. Equities analysts predict that PACCAR Inc. will post 5.58 EPS 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 dividend of $0.35 per share. The ex-dividend date was Wednesday, May 13th. This represents a $1.40 annualized dividend and a yield of 1.1%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.

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.