IFM Investors Pty Ltd Increases Stock Holdings in PACCAR Inc. $PCAR

IFM Investors Pty Ltd grew its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 10.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,367 shares of the company’s stock after purchasing an additional 9,850 shares during the quarter. IFM Investors Pty Ltd’s holdings in PACCAR were worth $11,708,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. California Public Employees Retirement System boosted its stake in shares of PACCAR by 0.8% in the third quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company’s stock worth $105,725,000 after acquiring an additional 9,045 shares during the period. Nomura Asset Management Co. Ltd. grew its position in shares of PACCAR by 2.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock worth $45,281,000 after purchasing an additional 9,524 shares in the last quarter. Nordea Investment Management AB raised its stake in PACCAR by 12.6% during the 4th quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock valued at $13,487,000 after purchasing an additional 13,668 shares during the period. Merit Financial Group LLC raised its stake in PACCAR by 165.8% during the 4th quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock valued at $2,663,000 after purchasing an additional 15,169 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in PACCAR by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after purchasing an additional 363,782 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PCAR. Evercore set a $139.00 price objective on shares of PACCAR in a report on Monday, May 11th. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Truist Financial raised their target price 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. Wells Fargo & Company set a $125.00 price target on shares of PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Finally, BNP Paribas Exane began coverage on shares of PACCAR in a research note on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target on the stock. One investment 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $122.00.

PACCAR Trading Up 0.9%

Shares of NASDAQ PCAR opened at $121.24 on Thursday. The business’s 50 day moving average is $116.59 and its two-hundred day moving average is $118.66. 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 $92.25 and a 1-year high of $131.88. The stock has a market capitalization of $63.81 billion, a P/E ratio of 25.80, a PEG ratio of 1.12 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. The firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.During the same quarter in the previous year, the business earned $1.46 EPS. The company’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 year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were issued a $0.35 dividend. 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 dividend yield of 1.2%. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.

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.