Erste Asset Management GmbH Grows Stock Holdings in PACCAR Inc. $PCAR

Erste Asset Management GmbH grew its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 35.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,268 shares of the company’s stock after buying an additional 20,869 shares during the quarter. Erste Asset Management GmbH’s holdings in PACCAR were worth $8,942,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in PACCAR by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after buying an additional 363,782 shares during the period. Geode Capital Management LLC lifted its position in shares of PACCAR by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock worth $1,350,867,000 after purchasing an additional 50,622 shares in the last quarter. Norges Bank acquired a new position in shares of PACCAR during the fourth quarter worth $727,745,000. Capital Research Global Investors lifted its position in shares of PACCAR by 0.8% during the fourth quarter. Capital Research Global Investors now owns 6,016,243 shares of the company’s stock worth $658,839,000 after purchasing an additional 45,090 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of PACCAR by 3.5% during the third quarter. Invesco Ltd. now owns 5,396,888 shares of the company’s stock worth $530,622,000 after purchasing an additional 184,502 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Trading Up 1.5%

PCAR opened at $118.44 on Tuesday. The stock has a market capitalization of $62.33 billion, a PE ratio of 25.20, a P/E/G ratio of 1.08 and a beta of 0.98. The firm’s fifty day moving average price is $117.42 and its 200 day moving average price is $117.09. 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 12-month low of $90.05 and a 12-month 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 (EPS) for the quarter, meeting the consensus estimate of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the prior year, the company posted $1.46 earnings per share. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. As a group, research analysts expect that PACCAR Inc. will post 5.59 EPS for the current fiscal 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 paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.2%. PACCAR’s payout ratio is presently 29.79%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock 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 report on Wednesday, April 29th. Evercore set a $139.00 target price on shares of PACCAR in a research report on Monday, May 11th. Citigroup reissued a “neutral” rating and set a $125.00 target price (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Finally, Truist Financial boosted their target price on shares of PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $122.00.

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.