UniSuper Management Pty Ltd Raises Stock Holdings in PACCAR Inc. $PCAR

UniSuper Management Pty Ltd increased its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 16.2% in the third quarter, HoldingsChannel reports. The firm owned 48,983 shares of the company’s stock after buying an additional 6,845 shares during the quarter. UniSuper Management Pty Ltd’s holdings in PACCAR were worth $4,816,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of PACCAR by 1.0% during the 2nd quarter. State Street Corp now owns 22,534,596 shares of the company’s stock worth $2,142,139,000 after purchasing an additional 218,188 shares during the last quarter. Geode Capital Management LLC raised its position in shares of PACCAR by 1.3% in the second quarter. Geode Capital Management LLC now owns 12,455,453 shares of the company’s stock valued at $1,184,112,000 after buying an additional 159,632 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of PACCAR by 25.2% during the second quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock valued at $551,211,000 after buying an additional 1,165,443 shares during the period. Invesco Ltd. boosted its position in PACCAR by 5.0% during the second quarter. Invesco Ltd. now owns 5,212,386 shares of the company’s stock worth $495,489,000 after acquiring an additional 246,410 shares during the last quarter. Finally, Norges Bank purchased a new stake in PACCAR in the 2nd quarter worth approximately $472,520,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of NASDAQ:PCAR opened at $122.00 on Monday. The business has a 50-day moving average of $111.38 and a two-hundred day moving average of $102.90. The firm has a market capitalization of $64.07 billion, a PE ratio of 23.87, a P/E/G ratio of 14.42 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.12 and a quick ratio of 2.91. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $124.53.

PACCAR Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is presently 25.83%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PCAR shares. Wolfe Research raised PACCAR from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 22nd. Wall Street Zen lowered PACCAR from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Sanford C. Bernstein reiterated an “outperform” rating and set a $125.00 target price on shares of PACCAR in a research report on Friday, December 5th. Morgan Stanley lifted their price target on PACCAR from $93.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Finally, Wells Fargo & Company set a $119.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $113.42.

PACCAR 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.