Y Intercept Hong Kong Ltd Increases Stock Holdings in PACCAR Inc. $PCAR

Y Intercept Hong Kong Ltd grew its stake in PACCAR Inc. (NASDAQ:PCAR) by 40.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,001 shares of the company’s stock after purchasing an additional 18,587 shares during the period. Y Intercept Hong Kong Ltd’s holdings in PACCAR were worth $7,508,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of PACCAR during the fourth quarter worth $727,745,000. Wellington Management Group LLP increased its stake in PACCAR by 18.6% in the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after buying an additional 3,597,283 shares during the period. UBS Group AG increased its stake in PACCAR by 74.4% in the 4th quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock valued at $498,146,000 after buying an additional 1,940,260 shares during the period. Price T Rowe Associates Inc. MD raised its position in PACCAR by 129.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,275,921 shares of the company’s stock worth $249,237,000 after buying an additional 1,286,056 shares during the last quarter. Finally, Focus Partners Wealth raised its position in PACCAR by 17,292.6% during the 4th quarter. Focus Partners Wealth now owns 1,202,700 shares of the company’s stock worth $131,725,000 after buying an additional 1,195,785 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

PACCAR stock opened at $119.50 on Friday. The company has a market cap of $62.89 billion, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 1.11 and a beta of 0.97. PACCAR Inc. has a one year low of $92.25 and a one year high of $131.88. The business has a fifty day moving average of $116.34 and a two-hundred day moving average of $118.72. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 EPS. As a group, analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced 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. The ex-dividend date was Wednesday, May 13th. This is an increase from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.2%. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Evercore set a $139.00 target price on shares of PACCAR in a research note on Monday, May 11th. Citigroup reissued a “neutral” rating and set a $125.00 price target (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Weiss Ratings downgraded shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Truist Financial lifted their price objective on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. dropped their target price on PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. One equities research 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $122.45.

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.