Sompo Japan Nipponkoa Asset Management CO. LTD. boosted its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 28.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,990 shares of the company’s stock after purchasing an additional 16,870 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in PACCAR were worth $5,250,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of PCAR. Fulcrum Capital LLC increased its holdings in PACCAR by 5.0% during the third quarter. Fulcrum Capital LLC now owns 21,897 shares of the company’s stock valued at $1,493,000 after buying an additional 1,038 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in PACCAR by 75.1% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 1,780,223 shares of the company’s stock valued at $121,393,000 after buying an additional 763,338 shares during the last quarter. Stuyvesant Capital Management purchased a new stake in PACCAR during the third quarter valued at approximately $235,000. Janney Montgomery Scott LLC increased its holdings in PACCAR by 37.4% during the third quarter. Janney Montgomery Scott LLC now owns 21,290 shares of the company’s stock valued at $1,452,000 after buying an additional 5,797 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its holdings in PACCAR by 7.1% during the third quarter. Gulf International Bank UK Ltd now owns 117,640 shares of the company’s stock valued at $8,021,000 after buying an additional 7,800 shares during the last quarter. Institutional investors own 61.33% of the company’s stock.
PCAR has been the subject of a number of research reports. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Thursday, October 25th. Credit Suisse Group reduced their price objective on shares of PACCAR from $70.00 to $69.00 and set a “neutral” rating for the company in a research note on Wednesday, July 25th. ValuEngine cut shares of PACCAR from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. BidaskClub raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Friday, October 5th. Finally, Morgan Stanley set a $58.00 price objective on shares of PACCAR and gave the stock a “sell” rating in a research note on Wednesday, October 24th. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $68.73.
PCAR opened at $59.04 on Friday. The firm has a market cap of $20.81 billion, a P/E ratio of 13.86, a P/E/G ratio of 0.89 and a beta of 1.39. PACCAR Inc has a fifty-two week low of $53.95 and a fifty-two week high of $79.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.63 and a quick ratio of 1.05.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 23rd. The company reported $1.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.04. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.50 billion. PACCAR had a net margin of 9.73% and a return on equity of 23.52%. PACCAR’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the company posted $1.14 earnings per share. As a group, research analysts predict that PACCAR Inc will post 6.16 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Tuesday, November 13th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 9th. This represents a $1.12 annualized dividend and a yield of 1.90%. PACCAR’s payout ratio is 26.29%.
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PACCAR Company Profile
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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