PACCAR Inc. $PCAR Shares Purchased by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lifted its holdings in PACCAR Inc. (NASDAQ:PCAR) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,619 shares of the company’s stock after purchasing an additional 4,845 shares during the period. Rockefeller Capital Management L.P.’s holdings in PACCAR were worth $10,471,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after purchasing an additional 290 shares during the period. Focus Partners Wealth raised its stake in shares of PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after buying an additional 1,812 shares during the period. Treasurer of the State of North Carolina raised its stake in shares of PACCAR by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock worth $22,886,000 after buying an additional 5,327 shares during the period. Ieq Capital LLC lifted its position in shares of PACCAR by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock valued at $3,556,000 after buying an additional 3,858 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of PACCAR during the 2nd quarter valued at approximately $81,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on PCAR shares. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Truist Financial lifted their target price on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Wells Fargo & Company set a $125.00 target price on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Finally, BNP Paribas Exane initiated coverage on shares of PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price target for the company. One 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 company. According to MarketBeat.com, PACCAR has a consensus rating of “Hold” and an average target price of $122.00.

PACCAR Price Performance

PACCAR stock opened at $117.03 on Thursday. The company has a fifty day simple moving average of $117.08 and a 200-day simple moving average of $118.32. The firm has a market capitalization of $61.59 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 1.08 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 Inc. has a 52-week low of $92.25 and a 52-week high of $131.88.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share 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 net margin of 8.91% and a return on equity of 12.81%. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the firm posted $1.46 earnings per share. On average, equities analysts anticipate that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis 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 currently 29.79%.

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.