PACCAR Inc. $PCAR Shares Sold by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. reduced its stake in PACCAR Inc. (NASDAQ:PCAR) by 16.4% during the 1st quarter, HoldingsChannel reports. The firm owned 1,048,314 shares of the company’s stock after selling 205,288 shares during the period. Epoch Investment Partners Inc.’s holdings in PACCAR were worth $121,080,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Nomura Asset Management Co. Ltd. increased its stake in PACCAR by 2.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock valued at $45,281,000 after buying an additional 9,524 shares during the period. Merit Financial Group LLC raised its position in PACCAR by 165.8% during the 4th quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock worth $2,663,000 after buying an additional 15,169 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of PACCAR by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after acquiring an additional 363,782 shares during the period. Swiss Life Asset Management Ltd lifted its stake in shares of PACCAR by 118.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 638,688 shares of the company’s stock worth $69,943,000 after acquiring an additional 345,937 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of PACCAR by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock valued at $1,350,867,000 after acquiring an additional 50,622 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PCAR shares. Truist Financial boosted their price target on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Citigroup restated 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. Morgan Stanley lifted their price objective on PACCAR from $109.00 to $113.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. BNP Paribas Exane began coverage on PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 target price on the stock. Finally, Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $124.18.

PACCAR Stock Performance

Shares of PCAR opened at $132.24 on Friday. The company has a 50-day simple moving average of $119.00 and a 200-day simple moving average of $120.24. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $69.60 billion, a PE ratio of 28.14, a P/E/G ratio of 1.20 and a beta of 0.97. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $133.90.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The firm’s revenue was down 9.8% on a year-over-year basis. Equities research analysts predict that PACCAR Inc. will post 5.66 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s dividend payout ratio (DPR) is presently 29.79%.

PACCAR 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.