Keybank National Association OH Has $2.86 Million Stock Holdings in PACCAR Inc. $PCAR

Keybank National Association OH raised its stake in PACCAR Inc. (NASDAQ:PCAR) by 26.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,771 shares of the company’s stock after purchasing an additional 5,226 shares during the period. Keybank National Association OH’s holdings in PACCAR were worth $2,861,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake 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 buying an additional 363,782 shares during the period. Wellington Management Group LLP boosted its holdings in PACCAR by 18.6% in the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock worth $2,516,272,000 after acquiring an additional 3,597,283 shares in the last quarter. State Street Corp boosted its holdings in PACCAR by 0.4% in the fourth quarter. State Street Corp now owns 22,497,197 shares of the company’s stock worth $2,494,269,000 after acquiring an additional 94,869 shares in the last quarter. Geode Capital Management LLC grew its stake in PACCAR by 0.4% in the fourth 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. Finally, Norges Bank acquired a new stake in PACCAR in the fourth quarter valued at approximately $727,745,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of research reports. Wells Fargo & Company set a $125.00 target price on PACCAR and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. Truist Financial boosted their price target on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Thursday. BNP Paribas Exane began coverage on shares of PACCAR in a report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective on the stock. Citigroup reaffirmed a “neutral” rating and issued a $125.00 price objective (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. reduced their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $122.45.

PACCAR Stock Performance

Shares of PCAR stock opened at $119.50 on Monday. The firm has a 50-day moving average of $116.34 and a 200-day moving average of $118.76. The company has a market cap of $62.89 billion, a P/E ratio of 25.43, a P/E/G ratio of 1.11 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. PACCAR Inc. has a one year low of $92.25 and a one year high of $131.88.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The business had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the previous year, the company earned $1.46 earnings per share. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. Equities research analysts forecast that PACCAR Inc. will post 5.59 EPS 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 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 dividend yield of 1.2%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s 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.