BNP Paribas Financial Markets Grows Stake in PACCAR Inc. $PCAR

BNP Paribas Financial Markets grew its holdings in PACCAR Inc. (NASDAQ:PCAR) by 102.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,570,051 shares of the company’s stock after buying an additional 795,050 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.30% of PACCAR worth $171,936,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. California Public Employees Retirement System raised its stake 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 valued at $105,725,000 after buying an additional 9,045 shares during the last quarter. Merit Financial Group LLC raised its stake in PACCAR by 165.8% during the fourth quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock valued at $2,663,000 after buying an additional 15,169 shares during the last quarter. Nordea Investment Management AB raised its stake in PACCAR by 12.6% during the fourth quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock valued at $13,487,000 after buying an additional 13,668 shares during the last quarter. National Pension Service raised its stake in PACCAR by 5.5% during the third quarter. National Pension Service now owns 939,146 shares of the company’s stock valued at $92,337,000 after buying an additional 48,711 shares during the last quarter. Finally, AE Wealth Management LLC raised its stake in PACCAR by 29.1% during the third quarter. AE Wealth Management LLC now owns 39,594 shares of the company’s stock valued at $3,893,000 after buying an additional 8,932 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Down 1.6%

PCAR stock opened at $110.37 on Friday. 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 1-year low of $90.05 and a 1-year high of $131.88. The stock has a market capitalization of $58.09 billion, a P/E ratio of 23.48, a P/E/G ratio of 1.02 and a beta of 1.02. The business has a fifty day moving average price of $117.34 and a 200-day moving average price of $116.20.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 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 during the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. PACCAR’s revenue was down 9.8% compared to the same quarter last year. Equities analysts forecast that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This is an increase from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.3%. PACCAR’s dividend payout ratio is presently 29.79%.

Analysts Set New Price Targets

PCAR has been the subject of a number of recent research reports. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Citigroup restated a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Morgan Stanley set a $109.00 price target on PACCAR and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. BNP Paribas Exane began coverage on PACCAR in a research note on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target for the company. Finally, Evercore set a $139.00 price target on PACCAR in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, PACCAR presently has a consensus rating of “Hold” and a consensus target price of $122.00.

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.