OP Asset Management Ltd Purchases Shares of 53,054 PACCAR Inc. $PCAR

OP Asset Management Ltd acquired a new position in shares of PACCAR Inc. (NASDAQ:PCAR) during the first quarter, HoldingsChannel reports. The firm acquired 53,054 shares of the company’s stock, valued at approximately $6,128,000.

Several other large investors also recently made changes to their positions in PCAR. Deseret Mutual Benefit Administrators lifted its stake in PACCAR by 9.9% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock valued at $97,000 after purchasing an additional 80 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in PACCAR by 0.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock valued at $2,869,000 after buying an additional 81 shares during the period. CYBER HORNET ETFs LLC raised its stake in PACCAR by 6.2% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock valued at $163,000 after buying an additional 87 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of PACCAR by 3.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock valued at $317,000 after buying an additional 87 shares during the last quarter. Finally, Jackson Square Capital LLC boosted its stake in shares of PACCAR by 3.5% during the 4th quarter. Jackson Square Capital LLC now owns 2,650 shares of the company’s stock worth $290,000 after acquiring an additional 90 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. 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 research report on Wednesday, April 29th. Evercore set a $139.00 price objective on shares of PACCAR in a report on Monday, May 11th. BNP Paribas Exane started coverage on shares of PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price objective on the stock. Finally, Truist Financial raised their target price on shares of PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $122.00.

PACCAR Price Performance

PACCAR stock opened at $121.68 on Friday. The company 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. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a 12 month low of $92.25 and a 12 month high of $131.88. The stock’s 50 day moving average is $117.01 and its 200-day moving average is $118.40.

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. The business had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the firm posted $1.46 EPS. Equities research analysts expect that PACCAR Inc. will post 5.59 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed 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. This represents a $1.40 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, May 13th. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is 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.