PACCAR Inc. $PCAR Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its position in PACCAR Inc. (NASDAQ:PCAR) by 79.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 139,771 shares of the company’s stock after selling 541,120 shares during the quarter. SG Americas Securities LLC’s holdings in PACCAR were worth $16,144,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. California Public Employees Retirement System lifted its stake in PACCAR by 0.8% in 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. Nordea Investment Management AB grew its position in shares of PACCAR by 12.6% in the fourth quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock valued at $13,487,000 after purchasing an additional 13,668 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of PACCAR by 165.8% in the fourth quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock valued at $2,663,000 after purchasing an additional 15,169 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of PACCAR by 2.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock valued at $45,281,000 after purchasing an additional 9,524 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in PACCAR by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after buying an additional 363,782 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Truist Financial lifted their price target on PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Evercore set a $139.00 price target on shares of PACCAR in a research report on Monday, May 11th. Citigroup reissued a “neutral” rating and issued a $125.00 price objective (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Finally, Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $122.00.

PACCAR Trading Up 4.0%

Shares of PACCAR stock opened at $121.68 on Friday. The stock has a 50 day moving average of $117.01 and a 200 day moving average of $118.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The firm has a market capitalization of $64.04 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 1.09 and a beta of 0.98. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $131.88.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. The company had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The company’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 earnings per share. As a group, research analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

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