Daiwa Securities Group Inc. Has $14.45 Million Stock Holdings in PACCAR Inc. $PCAR

Daiwa Securities Group Inc. raised its holdings in PACCAR Inc. (NASDAQ:PCAR) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 131,907 shares of the company’s stock after purchasing an additional 7,168 shares during the quarter. Daiwa Securities Group Inc.’s holdings in PACCAR were worth $14,445,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of PACCAR by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after purchasing an additional 363,782 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of PACCAR by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock valued at $1,350,867,000 after purchasing an additional 50,622 shares in the last quarter. Norges Bank acquired a new stake in shares of PACCAR in the 4th quarter valued at $727,745,000. Capital Research Global Investors boosted its holdings in shares of PACCAR by 20.3% in the 3rd quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock valued at $587,084,000 after purchasing an additional 1,009,134 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of PACCAR by 3.5% in the 3rd quarter. Invesco Ltd. now owns 5,396,888 shares of the company’s stock valued at $530,622,000 after purchasing an additional 184,502 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of research analyst reports. Evercore set a $139.00 target price on PACCAR in a report on Monday, May 11th. Truist Financial increased their price target on 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 PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, Citigroup reiterated a “neutral” rating and issued a $125.00 price target (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 assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, PACCAR presently has an average rating of “Hold” and an average target price of $122.00.

PACCAR Stock Down 1.2%

Shares of PCAR opened at $116.68 on Friday. PACCAR Inc. has a 52 week low of $90.05 and a 52 week high of $131.88. The stock has a market capitalization of $61.41 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 1.08 and a beta of 0.98. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The stock has a fifty day moving average of $117.35 and a 200-day moving average of $116.78.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The company had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the prior year, the company earned $1.46 EPS. PACCAR’s revenue was down 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were given 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 yield of 1.2%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio is 29.79%.

PACCAR Company 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.