Twin Tree Management LP Purchases 8,873 Shares of PACCAR Inc. $PCAR

Twin Tree Management LP boosted its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 78.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,218 shares of the company’s stock after purchasing an additional 8,873 shares during the quarter. Twin Tree Management LP’s holdings in PACCAR were worth $2,214,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. California Public Employees Retirement System raised its stake in PACCAR by 0.8% during the third quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company’s stock worth $105,725,000 after acquiring an additional 9,045 shares in the last quarter. Merit Financial Group LLC raised its stake in PACCAR by 165.8% during the fourth quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock worth $2,663,000 after acquiring an additional 15,169 shares in the last quarter. Nordea Investment Management AB raised its stake in PACCAR by 12.6% during the fourth quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock worth $13,487,000 after acquiring an additional 13,668 shares in the last quarter. Vanguard Group Inc. raised its stake in PACCAR by 0.8% during the third quarter. Vanguard Group Inc. now owns 63,111,444 shares of the company’s stock worth $6,205,117,000 after acquiring an additional 485,678 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in PACCAR by 2.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock worth $45,281,000 after acquiring an additional 9,524 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Evercore set a $139.00 price objective on PACCAR in a research note on Monday, May 11th. Truist Financial raised their target price on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Citigroup restated a “neutral” rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Finally, BNP Paribas Exane started coverage on PACCAR in a research note on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and an average price target of $122.00.

PACCAR Price Performance

PACCAR stock opened at $118.44 on Tuesday. The business’s 50-day simple moving average is $117.42 and its 200 day simple moving average is $117.09. The stock has a market cap of $62.33 billion, a price-to-earnings ratio of 25.20, a P/E/G ratio of 1.08 and a beta of 0.98. PACCAR Inc. has a 12-month low of $90.05 and a 12-month high of $131.88. 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 (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (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 firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter last year, the business earned $1.46 earnings per share. The company’s revenue was down 9.8% compared to the same quarter last year. As a group, research analysts anticipate that PACCAR Inc. will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

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