Lombard Odier Asset Management Switzerland SA Has $5.93 Million Stock Holdings in PACCAR Inc. $PCAR

Lombard Odier Asset Management Switzerland SA increased its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 54.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,319 shares of the company’s stock after acquiring an additional 18,119 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in PACCAR were worth $5,927,000 at the end of the most recent quarter.

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

PACCAR Stock Up 1.1%

NASDAQ:PCAR opened at $132.24 on Friday. PACCAR Inc. has a 1 year low of $92.25 and a 1 year high of $133.90. The stock has a 50-day moving average price of $119.00 and a two-hundred day moving average price of $120.24. The stock has a market cap of $69.60 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.21 and a beta of 0.97. 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 (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The company had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter last year, the firm posted $1.46 earnings per share. PACCAR’s revenue was down 9.8% compared to the same quarter last year. As a group, equities analysts expect that PACCAR Inc. will post 5.66 earnings per share for the current year.

PACCAR Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Citigroup restated a “neutral” rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Finally, Truist Financial upped their target price on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $124.18.

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.