DNB Asset Management AS Has $29.36 Million Position in PACCAR Inc. $PCAR

DNB Asset Management AS boosted its holdings in PACCAR Inc. (NASDAQ:PCAR) by 29.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 268,069 shares of the company’s stock after buying an additional 60,795 shares during the period. DNB Asset Management AS’s holdings in PACCAR were worth $29,356,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in PACCAR by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after purchasing an additional 363,782 shares during the period. Capital Research Global Investors increased its position in shares of PACCAR by 20.3% during the third quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock worth $587,084,000 after acquiring an additional 1,009,134 shares in the last quarter. Invesco Ltd. increased its position in shares of PACCAR by 3.5% during the third quarter. Invesco Ltd. now owns 5,396,888 shares of the company’s stock worth $530,622,000 after acquiring an additional 184,502 shares in the last quarter. UBS Group AG increased its position in shares of PACCAR by 74.4% during the fourth quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock worth $498,146,000 after acquiring an additional 1,940,260 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of PACCAR by 0.7% during the third quarter. Bank of New York Mellon Corp now owns 3,256,671 shares of the company’s stock worth $320,196,000 after acquiring an additional 22,941 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $110.32 on Friday. The firm has a 50 day moving average of $118.77 and a 200-day moving average of $115.36. The stock has a market capitalization of $58.06 billion, a PE ratio of 23.47, a PEG ratio of 1.02 and a beta of 1.02. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. PACCAR Inc. has a 12 month low of $90.05 and a 12 month 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 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% compared to the same quarter last year. During the same period in the previous year, the company earned $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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, May 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.3%. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio is currently 29.79%.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of analyst reports. Weiss Ratings raised shares of PACCAR from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Citigroup reissued 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. JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and an average target price of $122.00.

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.