KBC Group NV Sells 83,311 Shares of PACCAR Inc. $PCAR

KBC Group NV lessened its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 32.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 173,070 shares of the company’s stock after selling 83,311 shares during the period. KBC Group NV’s holdings in PACCAR were worth $19,990,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PCAR. Norges Bank bought a new position in PACCAR in the 4th quarter worth approximately $727,745,000. Wellington Management Group LLP boosted its position in shares of PACCAR by 18.6% in the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after acquiring an additional 3,597,283 shares during the period. UBS Group AG grew its stake in shares of PACCAR by 74.4% in the fourth quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock worth $498,146,000 after acquiring an additional 1,940,260 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of PACCAR by 129.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,275,921 shares of the company’s stock worth $249,237,000 after acquiring an additional 1,286,056 shares during the last quarter. Finally, Focus Partners Wealth increased its position in PACCAR by 17,292.6% during the fourth quarter. Focus Partners Wealth now owns 1,202,700 shares of the company’s stock worth $131,725,000 after acquiring an additional 1,195,785 shares during the period. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PCAR. Citigroup reissued a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Evercore set a $139.00 price objective on shares of PACCAR in a report on Monday, May 11th. Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, Morgan Stanley lifted their target price on PACCAR from $109.00 to $113.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. One investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $124.18.

PACCAR Price Performance

PACCAR stock opened at $126.25 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The company has a market capitalization of $66.44 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 1.14 and a beta of 0.97. PACCAR Inc. has a one year low of $92.25 and a one year high of $131.88. The business has a 50 day simple moving average of $117.82 and a 200 day simple moving average of $119.87.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the previous year, the firm earned $1.46 EPS. PACCAR’s quarterly revenue was down 9.8% on a year-over-year basis. On average, sell-side analysts forecast that PACCAR Inc. will post 5.66 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s payout ratio is currently 29.79%.

About PACCAR

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.