174,000 Shares in PACCAR Inc. $PCAR Acquired by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. purchased a new position in PACCAR Inc. (NASDAQ:PCAR) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 174,000 shares of the company’s stock, valued at approximately $20,097,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of PACCAR by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after acquiring an additional 363,782 shares in the last quarter. Wellington Management Group LLP raised its position in shares of PACCAR by 18.6% during the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock worth $2,516,272,000 after purchasing an additional 3,597,283 shares during the period. State Street Corp lifted its holdings 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 worth $2,494,269,000 after purchasing an additional 94,869 shares in the last quarter. Geode Capital Management LLC lifted 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 worth $1,350,867,000 after purchasing an additional 50,622 shares in the last quarter. Finally, Norges Bank acquired a new stake in PACCAR in the 4th quarter valued at $727,745,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Trading Down 0.8%

NASDAQ PCAR opened at $120.68 on Friday. 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 business has a fifty day simple moving average of $116.95 and a 200 day simple moving average of $118.42. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $131.88. The firm has a market capitalization of $63.51 billion, a P/E ratio of 25.68, a PEG ratio of 1.12 and a beta of 0.98.

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

PACCAR Increases Dividend

The company also recently declared 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 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 1.2%. PACCAR’s payout ratio is 29.79%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Evercore set a $139.00 price target on shares of PACCAR in a research note on Monday, May 11th. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Citigroup restated a “neutral” rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Finally, BNP Paribas Exane initiated coverage on shares of PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target on the stock. One equities 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 stock. Based on data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and an average 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.