Capital Research Global Investors Purchases 45,090 Shares of PACCAR Inc. $PCAR

Capital Research Global Investors grew its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,016,243 shares of the company’s stock after acquiring an additional 45,090 shares during the period. Capital Research Global Investors owned about 1.15% of PACCAR worth $658,839,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its stake in PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after buying an additional 290 shares in the last quarter. Focus Partners Wealth raised its stake in PACCAR by 15.4% in the first 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 in the last quarter. Treasurer of the State of North Carolina raised its stake in PACCAR by 2.3% in the second 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 in the last quarter. Ieq Capital LLC raised its stake in PACCAR by 11.5% in the second quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $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 bought a new position in PACCAR in the second quarter worth about $81,000. 64.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PCAR has been the subject of a number of research reports. Weiss Ratings downgraded 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 price target on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. decreased their price target on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Evercore set a $139.00 price target on shares of PACCAR in a research note on Monday, May 11th. Finally, Citigroup reissued 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. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $122.00.

PACCAR Price Performance

Shares of PCAR opened at $116.68 on Monday. The stock has a market cap of $61.41 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 1.08 and a beta of 0.98. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. PACCAR Inc. has a fifty-two week low of $90.05 and a fifty-two week high of $131.88. The firm’s 50-day simple moving average is $117.35 and its two-hundred day simple moving average is $116.94.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The business’s revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 earnings per share. Analysts anticipate that PACCAR Inc. will post 5.59 earnings per share 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%. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date was Wednesday, May 13th. PACCAR’s dividend 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.