PACCAR Inc. $PCAR Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,678,776 shares of the company’s stock after selling 53,404 shares during the quarter. Hsbc Holdings PLC owned approximately 0.32% of PACCAR worth $183,941,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of PACCAR in the fourth quarter valued at $727,745,000. Wellington Management Group LLP increased its position in PACCAR by 18.6% during the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock worth $2,516,272,000 after purchasing an additional 3,597,283 shares in the last quarter. UBS Group AG increased its position in PACCAR by 74.4% during the 4th quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock worth $498,146,000 after purchasing an additional 1,940,260 shares in the last quarter. American Century Companies Inc. lifted its holdings in PACCAR by 235.9% in the 3rd quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock valued at $249,801,000 after purchasing an additional 1,784,236 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in PACCAR by 129.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,275,921 shares of the company’s stock valued at $249,237,000 after purchasing an additional 1,286,056 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

PCAR opened at $118.95 on Friday. The company’s 50 day simple moving average is $117.64 and its 200 day simple moving average is $118.00. 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 1 year low of $90.05 and a 1 year high of $131.88. The stock has a market capitalization of $62.60 billion, a PE ratio of 25.31, a P/E/G ratio of 1.10 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, meeting analysts’ consensus estimates of $1.15. The firm had revenue of $6.78 billion during 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%. PACCAR’s revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 earnings per share. As a group, sell-side analysts expect that PACCAR Inc. will post 5.59 EPS for the current year.

PACCAR Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented on PCAR. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. BNP Paribas Exane began coverage on shares of PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 target price on the stock. Citigroup reaffirmed a “neutral” rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Finally, Wells Fargo & Company set a $125.00 price target on PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. 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 company’s stock. Based on data from MarketBeat.com, the company has an average 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.