Arjuna Capital Acquires Shares of 16,846 PACCAR Inc. $PCAR

Arjuna Capital bought a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,846 shares of the company’s stock, valued at approximately $1,845,000.

Other large investors also recently modified their holdings of the company. California Public Employees Retirement System grew its holdings in shares of PACCAR by 0.8% during the 3rd quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company’s stock worth $105,725,000 after purchasing an additional 9,045 shares in the last quarter. Merit Financial Group LLC lifted its holdings in shares of PACCAR by 165.8% during the 4th quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock worth $2,663,000 after acquiring an additional 15,169 shares during the period. National Pension Service lifted its holdings in shares of PACCAR by 5.5% during the 3rd quarter. National Pension Service now owns 939,146 shares of the company’s stock worth $92,337,000 after acquiring an additional 48,711 shares during the period. AE Wealth Management LLC lifted its holdings in shares of PACCAR by 29.1% during the 3rd quarter. AE Wealth Management LLC now owns 39,594 shares of the company’s stock worth $3,893,000 after acquiring an additional 8,932 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of PACCAR by 12.6% during the 4th quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock worth $13,487,000 after acquiring an additional 13,668 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PCAR. BNP Paribas Exane began coverage on PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective for the company. Wall Street Zen upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. JPMorgan Chase & Co. dropped their price objective on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Morgan Stanley set a $109.00 price objective on PACCAR and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Finally, Truist Financial upped their price objective on PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $122.00.

PACCAR Price Performance

PACCAR stock opened at $110.32 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 company has a market capitalization of $58.06 billion, a PE ratio of 23.47, a P/E/G ratio of 1.05 and a beta of 1.02. PACCAR Inc. has a 12 month low of $90.05 and a 12 month high of $131.88. The stock has a 50-day moving average price of $118.77 and a two-hundred day moving average price of $115.36.

PACCAR (NASDAQ:PCAR) last issued 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. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same period last year, the company earned $1.46 earnings per share. The firm’s revenue was down 9.8% compared to the same quarter last year. Analysts expect that PACCAR Inc. will post 5.59 EPS for the current year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.3%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, May 13th. PACCAR’s payout ratio is presently 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.