Twin Tree Management LP Boosts Holdings in PACCAR Inc. $PCAR

Twin Tree Management LP increased its stake in PACCAR Inc. (NASDAQ:PCAR) by 78.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,218 shares of the company’s stock after buying an additional 8,873 shares during the period. Twin Tree Management LP’s holdings in PACCAR were worth $2,214,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PCAR. Ares Financial Consulting LLC bought a new stake in shares of PACCAR in the fourth quarter worth $27,000. MCF Advisors LLC increased its stake in PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after purchasing an additional 92 shares during the last quarter. Elyxium Wealth LLC bought a new stake in PACCAR during the fourth quarter valued at $30,000. Wealth Watch Advisors INC bought a new stake in PACCAR during the third quarter valued at $32,000. Finally, Camelot Portfolios LLC bought a new stake in PACCAR during the fourth quarter valued at $33,000. Institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on PCAR shares. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Wells Fargo & Company set a $125.00 target price on shares of PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. BNP Paribas Exane started coverage on shares of PACCAR in a research note on Tuesday, March 31st. They set a “neutral” rating and a $126.00 target price for the company. Truist Financial boosted their target price on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Finally, Evercore set a $139.00 target price on shares of PACCAR in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $122.00.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $118.44 on Tuesday. PACCAR Inc. has a twelve month low of $90.05 and a twelve month high of $131.88. 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 company has a market capitalization of $62.33 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 1.08 and a beta of 0.98. The firm has a 50-day moving average of $117.42 and a two-hundred day moving average of $117.09.

PACCAR (NASDAQ:PCAR) last posted 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. The firm had revenue of $6.78 billion for 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 business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.46 EPS. As a group, analysts expect that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

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