Keybank National Association OH Purchases 5,226 Shares of PACCAR Inc. $PCAR

Keybank National Association OH grew its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 26.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,771 shares of the company’s stock after purchasing an additional 5,226 shares during the quarter. Keybank National Association OH’s holdings in PACCAR were worth $2,861,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PCAR. Deseret Mutual Benefit Administrators boosted its position in PACCAR by 9.9% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock worth $97,000 after buying an additional 80 shares during the period. Gulf International Bank UK Ltd increased its position in PACCAR by 0.3% in the 4th quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock valued at $2,869,000 after acquiring an additional 81 shares during the period. CYBER HORNET ETFs LLC increased its position in PACCAR by 6.2% in the 4th quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock valued at $163,000 after acquiring an additional 87 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of PACCAR by 3.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock valued at $317,000 after acquiring an additional 87 shares during the last quarter. Finally, Jackson Square Capital LLC raised its stake in shares of PACCAR by 3.5% during the fourth quarter. Jackson Square Capital LLC now owns 2,650 shares of the company’s stock valued at $290,000 after acquiring an additional 90 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on PCAR shares. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Truist Financial lifted their target price on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday. BNP Paribas Exane started coverage on PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target on the stock. Evercore set a $139.00 price target on PACCAR in a research note on Monday, May 11th. Finally, Citigroup reaffirmed 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. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $122.45.

PACCAR Price Performance

PCAR stock opened at $119.50 on Monday. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The firm has a market cap of $62.89 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 1.11 and a beta of 0.97. The company’s fifty day simple moving average is $116.34 and its 200 day simple moving average is $118.76. PACCAR Inc. has a 12-month low of $92.25 and a 12-month high of $131.88.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. The firm had revenue of $6.78 billion during 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% on a year-over-year basis. During the same period last year, the company posted $1.46 EPS. On average, analysts expect that PACCAR Inc. will post 5.59 earnings per share for the current 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 issued a $0.35 dividend. The ex-dividend date was Wednesday, May 13th. This is an increase from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. PACCAR’s dividend payout ratio is presently 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.