Hamilton Point Investment Advisors LLC Buys New Stake in PACCAR Inc (NASDAQ:PCAR)

Hamilton Point Investment Advisors LLC bought a new stake in PACCAR Inc (NASDAQ:PCAR) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 1,950 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in PACCAR by 47.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after purchasing an additional 3,296,146 shares during the period. JPMorgan Chase & Co. boosted its stake in PACCAR by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after purchasing an additional 1,164,692 shares during the period. Erste Asset Management GmbH acquired a new stake in PACCAR during the 3rd quarter worth $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in PACCAR by 115.7% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock worth $106,047,000 after purchasing an additional 576,532 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

NASDAQ:PCAR opened at $112.51 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $110.44 and a two-hundred day moving average price of $104.55. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a market capitalization of $58.99 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 2.83 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, research analysts expect that PACCAR Inc will post 7.71 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 15.17%.

Analysts Set New Price Targets

Several research firms have recently commented on PCAR. Morgan Stanley reduced their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, PACCAR has an average rating of “Moderate Buy” and an average price target of $121.32.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.