Corient Private Wealth LLC Buys 72,594 Shares of PACCAR Inc. $PCAR

Corient Private Wealth LLC increased its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 5.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,395,376 shares of the company’s stock after buying an additional 72,594 shares during the quarter. Corient Private Wealth LLC’s holdings in PACCAR were worth $152,808,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Brighton Jones LLC increased its position in shares of PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock valued at $9,258,000 after purchasing an additional 290 shares during the last quarter. Focus Partners Wealth raised its stake in shares of PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after purchasing an additional 1,812 shares during the period. Treasurer of the State of North Carolina boosted its holdings in shares of PACCAR by 2.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock worth $22,886,000 after buying an additional 5,327 shares during the last quarter. Ieq Capital LLC boosted its holdings in shares of PACCAR by 11.5% in the 2nd quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after buying an additional 3,858 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of PACCAR in the 2nd quarter worth about $81,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $118.95 on Friday. The stock’s 50-day moving average is $117.64 and its 200 day moving average is $118.00. The company has a market cap of $62.60 billion, a PE ratio of 25.31, a P/E/G ratio of 1.10 and a beta of 0.98. 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 $90.05 and a 1 year high of $131.88.

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

PACCAR Increases Dividend

The business also recently declared 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 was Wednesday, May 13th. This is a positive change 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 (DPR) is currently 29.79%.

Analyst Upgrades and Downgrades

Several brokerages have commented on PCAR. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Citigroup reiterated a “neutral” rating and issued a $125.00 price objective (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Finally, Truist Financial raised their price target on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.