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

Rockefeller Capital Management L.P. grew its stake in PACCAR Inc. (NASDAQ:PCAR) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,619 shares of the company’s stock after buying an additional 4,845 shares during the period. Rockefeller Capital Management L.P.’s holdings in PACCAR were worth $10,471,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PCAR. Ares Financial Consulting LLC acquired a new position in shares of PACCAR in the 4th quarter valued at $27,000. MCF Advisors LLC lifted its position in PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after acquiring an additional 92 shares during the period. Elyxium Wealth LLC purchased a new stake in PACCAR during the 4th quarter valued at about $30,000. Camelot Portfolios LLC purchased a new stake in PACCAR during the 4th quarter valued at about $33,000. Finally, Wealth Watch Advisors INC purchased a new stake in PACCAR during the 3rd quarter valued at about $32,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Up 0.2%

Shares of PCAR stock opened at $117.03 on Thursday. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $131.88. The stock has a market cap of $61.59 billion, a P/E ratio of 24.90, a P/E/G ratio of 1.08 and a beta of 0.98. The stock has a 50 day moving average of $117.08 and a 200 day moving average of $118.32. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 EPS. As a group, sell-side analysts expect that PACCAR Inc. will post 5.59 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were issued a dividend of $0.35 per share. 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 of this dividend was Wednesday, May 13th. PACCAR’s payout ratio is currently 29.79%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PCAR shares. Citigroup restated a “neutral” rating and issued a $125.00 price objective (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. JPMorgan Chase & Co. reduced their price target on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Truist Financial lifted their price objective on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Evercore set a $139.00 price objective on shares of PACCAR in a report on Monday, May 11th. Finally, Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. One equities research 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.