Legal & General Group Plc Has $322.45 Million Stock Position in PACCAR Inc. $PCAR

Legal & General Group Plc trimmed its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 9.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,944,432 shares of the company’s stock after selling 291,391 shares during the period. Legal & General Group Plc owned approximately 0.56% of PACCAR worth $322,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of PCAR. Ares Financial Consulting LLC acquired a new position in PACCAR during the fourth quarter valued at $27,000. Elyxium Wealth LLC acquired a new position in PACCAR during the fourth quarter valued at $30,000. Wealth Watch Advisors INC acquired a new position in PACCAR during the third quarter valued at $32,000. Camelot Portfolios LLC acquired a new position in PACCAR during the fourth quarter valued at $33,000. Finally, AlphaQuest LLC acquired a new position in PACCAR during the third quarter valued at $38,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PCAR has been the topic of several recent analyst reports. Citigroup reissued a “neutral” rating and set a $125.00 price target (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. BNP Paribas Exane assumed coverage on PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price on the stock. Wells Fargo & Company set a $125.00 target price on PACCAR and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. One investment 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, the company has an average rating of “Hold” and an average price target of $122.00.

PACCAR Stock Performance

Shares of PCAR stock opened at $112.01 on Wednesday. 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 Inc. has a fifty-two week low of $90.05 and a fifty-two week high of $131.88. The stock’s 50-day moving average is $117.55 and its two-hundred day moving average is $116.05. The firm has a market cap of $58.95 billion, a P/E ratio of 23.83, a PEG ratio of 1.02 and a beta of 1.02.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.15. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm’s revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.46 EPS. Analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be paid a dividend of $0.35 per share. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. PACCAR’s dividend payout ratio is currently 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.