Tredje AP fonden lifted its holdings in PACCAR Inc (NASDAQ:PCAR) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,711 shares of the company’s stock after buying an additional 516 shares during the period. Tredje AP fonden’s holdings in PACCAR were worth $1,284,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in PCAR. BlackRock Inc. lifted its stake in PACCAR by 7.8% in the fourth quarter. BlackRock Inc. now owns 25,297,074 shares of the company’s stock valued at $1,445,476,000 after purchasing an additional 1,830,638 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in PACCAR by 7,876.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,701,443 shares of the company’s stock valued at $135,000 after purchasing an additional 7,604,885 shares during the last quarter. FMR LLC lifted its stake in PACCAR by 26.1% in the third quarter. FMR LLC now owns 6,043,716 shares of the company’s stock valued at $412,121,000 after purchasing an additional 1,249,446 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in PACCAR by 33.3% in the third quarter. Bank of New York Mellon Corp now owns 6,026,604 shares of the company’s stock valued at $410,954,000 after purchasing an additional 1,505,929 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in PACCAR by 11.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,653,453 shares of the company’s stock valued at $180,962,000 after purchasing an additional 274,613 shares during the last quarter. Hedge funds and other institutional investors own 60.80% of the company’s stock.
Several equities analysts recently commented on the company. BidaskClub downgraded PACCAR from a “strong-buy” rating to a “buy” rating in a research note on Friday. Robert W. Baird upgraded PACCAR from a “neutral” rating to an “outperform” rating and set a $66.32 price objective on the stock in a research note on Thursday, February 7th. Piper Jaffray Companies upped their price objective on PACCAR to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, February 5th. They noted that the move was a valuation call. Zacks Investment Research downgraded PACCAR from a “buy” rating to a “hold” rating in a research report on Friday, February 1st. Finally, Credit Suisse Group restated a “hold” rating and set a $63.00 target price on shares of PACCAR in a research report on Tuesday, January 22nd. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. PACCAR currently has an average rating of “Hold” and an average price target of $68.72.
Shares of NASDAQ:PCAR traded down $0.03 during trading on Friday, hitting $67.77. 2,206,290 shares of the company were exchanged, compared to its average volume of 2,004,243. The company has a market cap of $23.76 billion, a P/E ratio of 10.86, a P/E/G ratio of 1.01 and a beta of 1.32. PACCAR Inc has a 52-week low of $53.43 and a 52-week high of $72.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.19 and a quick ratio of 0.98.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 29th. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.08. The firm had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.71 billion. PACCAR had a return on equity of 25.01% and a net margin of 9.34%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.18 earnings per share. On average, analysts expect that PACCAR Inc will post 6.42 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 5th. Stockholders of record on Tuesday, February 12th will be issued a $0.32 dividend. The ex-dividend date is Monday, February 11th. This represents a $1.28 annualized dividend and a dividend yield of 1.89%. This is a boost from PACCAR’s previous quarterly dividend of $0.28. PACCAR’s dividend payout ratio is presently 20.51%.
PACCAR declared that its board has authorized a stock repurchase program on Tuesday, December 4th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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