Hsbc Holdings PLC Grows Stock Holdings in PACCAR Inc. $PCAR

Hsbc Holdings PLC raised its holdings in PACCAR Inc. (NASDAQ:PCAR) by 19.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,966,444 shares of the company’s stock after acquiring an additional 326,135 shares during the period. Hsbc Holdings PLC’s holdings in PACCAR were worth $236,428,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Paladin Partners LLC purchased a new stake in shares of PACCAR in the second quarter valued at $27,000. MCF Advisors LLC lifted its position in PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after buying an additional 92 shares during the period. Compass Financial Management LLC acquired a new stake in PACCAR in the 2nd quarter worth about $28,000. Fiduciary Financial Advisors acquired a new stake in PACCAR in the 2nd quarter worth about $28,000. Finally, Steph & Co. purchased a new stake in PACCAR in the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of research analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $148.00 price objective on shares of PACCAR in a research note on Wednesday, July 29th. Truist Financial boosted their target price on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. upped their price target on shares of PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Morgan Stanley set a $125.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Friday. Finally, Evercore set a $139.00 price target on shares of PACCAR in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $132.30.

PACCAR Stock Performance

NASDAQ PCAR opened at $124.70 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $139.24. The firm has a market capitalization of $65.64 billion, a P/E ratio of 26.20, a P/E/G ratio of 1.43 and a beta of 0.96. The business’s 50-day simple moving average is $127.78 and its 200-day simple moving average is $121.77.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the prior year, the company earned $1.37 EPS. The company’s revenue was up .5% on a year-over-year basis. Equities analysts predict that PACCAR Inc. will post 5.91 EPS for the current year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 12th were given a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. PACCAR’s dividend payout ratio is presently 29.41%.

Insider Buying and Selling

In other news, CEO R Feight sold 50,975 shares of PACCAR stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the sale, the chief executive officer directly owned 268,625 shares of the company’s stock, valued at approximately $35,745,928.75. The trade was a 15.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William Lance Walters sold 1,000 shares of PACCAR stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 56,842 shares of company stock worth $7,565,677 in the last 90 days. 1.99% of the stock is owned by insiders.

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.