PACCAR Inc. $PCAR Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. cut its holdings in PACCAR Inc. (NASDAQ:PCAR) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 912,871 shares of the company’s stock after selling 12,080 shares during the period. Royal London Asset Management Ltd.’s holdings in PACCAR were worth $99,969,000 as of its most recent SEC filing.

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

PACCAR Stock Performance

NASDAQ PCAR opened at $118.52 on Friday. 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 business’s 50 day moving average is $117.65 and its two-hundred day moving average is $117.48. PACCAR Inc. has a 12-month low of $90.05 and a 12-month high of $131.88. The stock has a market capitalization of $62.38 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 1.09 and a beta of 0.98.

PACCAR (NASDAQ:PCAR) last released its 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. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The company had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. Research analysts expect that PACCAR Inc. will post 5.59 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s payout ratio is presently 29.79%.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of research analyst reports. Evercore set a $139.00 target price on PACCAR in a research report on Monday, May 11th. Truist Financial lifted their target price on PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. BNP Paribas Exane began coverage on PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target on the stock. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $122.00.

PACCAR Company 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.