Y Intercept Hong Kong Ltd Grows Stake in PACCAR Inc. $PCAR

Y Intercept Hong Kong Ltd increased its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 40.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 65,001 shares of the company’s stock after acquiring an additional 18,587 shares during the period. Y Intercept Hong Kong Ltd’s holdings in PACCAR were worth $7,508,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Ares Financial Consulting LLC acquired a new stake in PACCAR in the fourth quarter valued at $27,000. MCF Advisors LLC raised its stake in shares of PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after buying an additional 92 shares during the last quarter. Steph & Co. purchased a new stake in shares of PACCAR in the 1st quarter worth about $29,000. Elyxium Wealth LLC purchased a new stake in shares of PACCAR in the 4th quarter worth about $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in PACCAR in the 3rd quarter valued at about $32,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PCAR has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. BNP Paribas Exane began 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. Citigroup reissued a “neutral” rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Finally, Truist Financial upped their target price on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, PACCAR has an average rating of “Hold” and a consensus price target of $122.45.

PACCAR Stock Performance

Shares of PCAR stock opened at $119.50 on Friday. The company has a market capitalization of $62.89 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 1.11 and a beta of 0.97. 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 firm has a 50-day moving average price of $116.34 and a 200 day moving average price of $118.72. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $131.88.

PACCAR (NASDAQ:PCAR) last issued 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 business had revenue of $6.78 billion during 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 company’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.46 earnings per share. Research analysts forecast that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

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

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.