Barclays PLC Trims Stock Position in PACCAR Inc. $PCAR

Barclays PLC cut its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 23.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,902,898 shares of the company’s stock after selling 589,735 shares during the period. Barclays PLC’s holdings in PACCAR were worth $208,386,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in PACCAR by 0.6% during the fourth 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 during the period. State Street Corp raised its stake in shares of PACCAR by 0.4% in the 4th quarter. State Street Corp now owns 22,497,197 shares of the company’s stock valued at $2,494,269,000 after acquiring an additional 94,869 shares during the period. Geode Capital Management LLC raised its stake 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 acquiring an additional 50,622 shares during the period. Norges Bank purchased a new stake in shares of PACCAR in the 4th quarter valued at approximately $727,745,000. Finally, Capital Research Global Investors raised its stake in shares of PACCAR by 0.8% in the 4th quarter. Capital Research Global Investors now owns 6,016,243 shares of the company’s stock valued at $658,839,000 after acquiring an additional 45,090 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

Shares of PACCAR stock opened at $118.52 on Monday. The company has a fifty day simple moving average of $117.65 and a 200-day simple moving average of $117.59. PACCAR Inc. has a 12-month low of $90.05 and a 12-month high of $131.88. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. The stock has a market cap of $62.38 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 1.10 and a beta of 0.98.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter last year, the business posted $1.46 EPS. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. On average, equities analysts forecast that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Wednesday, May 13th. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s payout ratio is currently 29.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PCAR shares. Citigroup reissued 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. 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 report on Wednesday, April 29th. Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Finally, Evercore set a $139.00 price objective on shares of PACCAR in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $122.00.

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.