IFM Investors Pty Ltd Buys 9,850 Shares of PACCAR Inc. $PCAR

IFM Investors Pty Ltd raised its stake in PACCAR Inc. (NASDAQ:PCAR) by 10.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 101,367 shares of the company’s stock after buying an additional 9,850 shares during the period. IFM Investors Pty Ltd’s holdings in PACCAR were worth $11,708,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. MQS Management LLC purchased a new position in shares of PACCAR during the first quarter worth approximately $309,000. Premier Path Wealth Partners LLC boosted its holdings in shares of PACCAR by 33.4% in the first quarter. Premier Path Wealth Partners LLC now owns 5,168 shares of the company’s stock valued at $597,000 after purchasing an additional 1,295 shares during the period. Horizon Bancorp Inc. IN purchased a new stake in shares of PACCAR in the first quarter valued at approximately $175,000. Adams Diversified Equity Fund Inc. bought a new position in PACCAR in the first quarter worth approximately $20,097,000. Finally, Sterling Capital Management LLC grew its stake in PACCAR by 945.3% in the first quarter. Sterling Capital Management LLC now owns 10,160 shares of the company’s stock worth $1,173,000 after purchasing an additional 9,188 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PCAR shares. BNP Paribas Exane assumed coverage on PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 target price for the company. JPMorgan Chase & Co. dropped their price target on PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Citigroup restated a “neutral” rating and issued a $125.00 price objective (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Finally, Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and a consensus price target of $122.00.

PACCAR Stock Up 0.9%

PACCAR stock opened at $121.24 on Thursday. 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 firm has a market cap of $63.81 billion, a P/E ratio of 25.80, a P/E/G ratio of 1.12 and a beta of 0.97. The business has a fifty day moving average of $116.59 and a two-hundred day moving average of $118.66. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $131.88.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.15. The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The business’s revenue was down 9.8% compared to the same quarter last year. During the same period last year, the business posted $1.46 EPS. On average, analysts forecast 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 paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.2%. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date was Wednesday, May 13th. PACCAR’s payout ratio is presently 29.79%.

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.