Prudential PLC Has $3.13 Million Stake in PACCAR Inc. $PCAR

Prudential PLC boosted its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 51.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,568 shares of the company’s stock after acquiring an additional 9,686 shares during the period. Prudential PLC’s holdings in PACCAR were worth $3,128,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of PACCAR by 0.6% during 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 last quarter. Geode Capital Management LLC raised its position in shares of PACCAR by 0.4% during 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 buying an additional 50,622 shares during the last quarter. Norges Bank acquired a new position in shares of PACCAR during the fourth quarter valued at about $727,745,000. Capital Research Global Investors raised 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 valued at $587,084,000 after buying an additional 1,009,134 shares during the last quarter. Finally, Invesco Ltd. raised 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 valued at $530,622,000 after buying an additional 184,502 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PCAR shares. Evercore set a $139.00 price objective on shares of PACCAR in a research report on Monday, May 11th. JPMorgan Chase & Co. cut 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. Citigroup reaffirmed a “neutral” rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Finally, Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, PACCAR currently has a consensus rating of “Hold” and a consensus target price of $122.00.

PACCAR Stock Down 1.2%

Shares of PCAR opened at $116.68 on Friday. The stock has a market cap of $61.41 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 1.08 and a beta of 0.98. The company has a quick ratio of 2.91, a current ratio of 3.11 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. The company has a 50-day moving average price of $117.35 and a two-hundred day moving average price of $116.78.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. The firm 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 company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 earnings per share. Equities analysts predict that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th were paid a dividend of $0.35 per share. This is a positive change from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Wednesday, May 13th. PACCAR’s dividend payout ratio is 29.79%.

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.