Daiwa Securities Group Inc. Buys 7,168 Shares of PACCAR Inc. $PCAR

Daiwa Securities Group Inc. raised its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 131,907 shares of the company’s stock after purchasing an additional 7,168 shares during the period. Daiwa Securities Group Inc.’s holdings in PACCAR were worth $14,445,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Gulf International Bank UK Ltd raised its position in PACCAR by 0.3% during the 4th quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock worth $2,869,000 after purchasing an additional 81 shares during the last quarter. CYBER HORNET ETFs LLC raised its position in PACCAR by 6.2% during the 4th quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock worth $163,000 after purchasing an additional 87 shares during the last quarter. Jackson Square Capital LLC raised its position in 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 purchasing an additional 90 shares during the last quarter. Lakeside Advisors INC. raised its position in PACCAR by 0.3% during the 4th quarter. Lakeside Advisors INC. now owns 34,053 shares of the company’s stock worth $3,729,000 after purchasing an additional 92 shares during the last quarter. Finally, D.B. Root & Company LLC raised its position in PACCAR by 3.8% during the 4th quarter. D.B. Root & Company LLC now owns 2,720 shares of the company’s stock worth $298,000 after purchasing an additional 100 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Performance

Shares of PCAR opened at $116.68 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. The stock has a 50-day moving average of $117.35 and a 200-day moving average of $116.78. The company has a market cap of $61.41 billion, a PE ratio of 24.83, a P/E/G ratio of 1.08 and a beta of 0.98. PACCAR Inc. has a one year low of $90.05 and a one year high of $131.88.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. The company had revenue of $6.78 billion during 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 firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the business posted $1.46 EPS. On average, equities research analysts predict that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were paid a $0.35 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. This is a boost from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is 29.79%.

Analyst Ratings Changes

PCAR has been the subject of several analyst reports. Citigroup reaffirmed a “neutral” rating and set a $125.00 target price (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Truist Financial increased 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. JPMorgan Chase & Co. decreased their price target on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Finally, BNP Paribas Exane initiated coverage on PACCAR in a report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, PACCAR currently has a consensus rating of “Hold” and a consensus target price of $122.00.

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.