PNC Financial Services Group Inc. Grows Position in PACCAR Inc. $PCAR

PNC Financial Services Group Inc. raised its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 3.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 133,234 shares of the company’s stock after purchasing an additional 4,258 shares during the period. PNC Financial Services Group Inc.’s holdings in PACCAR were worth $15,388,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Ares Financial Consulting LLC bought a new position in shares of PACCAR during the 4th quarter valued at approximately $27,000. MCF Advisors LLC increased its holdings in PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after acquiring an additional 92 shares in the last quarter. Steph & Co. bought a new stake in PACCAR during the 1st quarter worth approximately $29,000. Elyxium Wealth LLC bought a new stake in PACCAR during the 4th quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC purchased a new position in PACCAR during the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on PCAR shares. Truist Financial upped their price target on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. 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. Morgan Stanley lifted their target price on shares of PACCAR from $109.00 to $113.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Evercore set a $139.00 target price on shares of PACCAR in a report on Monday, May 11th. Finally, Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $124.18.

PACCAR Trading Up 1.1%

PCAR stock opened at $132.24 on Friday. 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 1-year low of $92.25 and a 1-year high of $133.90. The business has a 50 day simple moving average of $119.00 and a two-hundred day simple moving average of $120.24. The company has a market capitalization of $69.60 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.21 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter last year, the business posted $1.46 earnings per share. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. Research analysts anticipate that PACCAR Inc. will post 5.66 EPS for the current fiscal year.

PACCAR Announces Dividend

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