PACCAR Inc. $PCAR Shares Sold by TD Asset Management Inc

TD Asset Management Inc decreased its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,699,880 shares of the company’s stock after selling 114,369 shares during the period. TD Asset Management Inc owned 0.32% of PACCAR worth $186,154,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. California Public Employees Retirement System increased its position in PACCAR by 0.8% during the third quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company’s stock worth $105,725,000 after purchasing an additional 9,045 shares during the last quarter. Merit Financial Group LLC increased its position in PACCAR by 165.8% during the fourth quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock worth $2,663,000 after purchasing an additional 15,169 shares during the last quarter. Nordea Investment Management AB increased its position in PACCAR by 12.6% during the fourth quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock worth $13,487,000 after purchasing an additional 13,668 shares during the last quarter. Vanguard Group Inc. increased its position in PACCAR by 0.8% during the third quarter. Vanguard Group Inc. now owns 63,111,444 shares of the company’s stock worth $6,205,117,000 after purchasing an additional 485,678 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in PACCAR by 5.0% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,096,158 shares of the company’s stock worth $107,774,000 after purchasing an additional 52,536 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PCAR shares. Truist Financial upped their price target on shares of PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Citigroup reissued a “neutral” rating and issued a $125.00 price objective (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. Finally, BNP Paribas Exane initiated coverage on shares of PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price objective for the company. One 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 stock. Based on data from MarketBeat, PACCAR has a consensus rating of “Hold” and a consensus price target of $122.00.

PACCAR Price Performance

PACCAR stock opened at $118.07 on Friday. PACCAR Inc. has a 52-week low of $90.05 and a 52-week high of $131.88. The firm has a fifty day moving average of $117.35 and a 200-day moving average of $116.79. The firm has a market capitalization of $62.14 billion, a P/E ratio of 25.12, a PEG ratio of 1.06 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.

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

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is 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.