Fideuram Asset Management Ireland dac Buys Shares of 7,466 PACCAR Inc. $PCAR

Fideuram Asset Management Ireland dac bought a new stake in PACCAR Inc. (NASDAQ:PCAR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,466 shares of the company’s stock, valued at approximately $788,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. CYBER HORNET ETFs LLC lifted its stake in PACCAR by 6.2% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock valued at $163,000 after buying an additional 87 shares during the period. Jackson Square Capital LLC lifted its stake in PACCAR by 3.5% in the fourth quarter. Jackson Square Capital LLC now owns 2,650 shares of the company’s stock valued at $290,000 after buying an additional 90 shares during the period. Lakeside Advisors INC. lifted its stake in PACCAR by 0.3% in the fourth quarter. Lakeside Advisors INC. now owns 34,053 shares of the company’s stock valued at $3,729,000 after buying an additional 92 shares during the period. D.B. Root & Company LLC lifted its stake in PACCAR by 3.8% in the fourth quarter. D.B. Root & Company LLC now owns 2,720 shares of the company’s stock valued at $298,000 after buying an additional 100 shares during the period. Finally, First Pacific Financial lifted its stake in PACCAR by 11.1% in the fourth quarter. First Pacific Financial now owns 1,058 shares of the company’s stock valued at $116,000 after buying an additional 106 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Trading Down 1.6%

NASDAQ PCAR opened at $110.37 on Friday. The firm has a market cap of $58.09 billion, a P/E ratio of 23.48, a P/E/G ratio of 1.02 and a beta of 1.02. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The stock’s 50-day moving average is $117.34 and its 200-day moving average is $116.20. PACCAR Inc. has a one year low of $90.05 and a one year high of $131.88.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. The company 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%.PACCAR’s revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.46 earnings per share. Sell-side analysts anticipate that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be given a dividend of $0.35 per share. 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 dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, May 13th. PACCAR’s payout ratio is 29.79%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup reissued 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. Evercore set a $139.00 target price on PACCAR in a research note on Monday, May 11th. Truist Financial increased their target price on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. BNP Paribas Exane assumed coverage on PACCAR in a research note on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price on the stock. Finally, Morgan Stanley set a $109.00 target price on PACCAR and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. 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 stock. According to data from MarketBeat.com, the stock presently has an average 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.