Gilpin Wealth Management LLC Purchases Shares of 6,395 PACCAR Inc. $PCAR

Gilpin Wealth Management LLC purchased a new stake in PACCAR Inc. (NASDAQ:PCAR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,395 shares of the company’s stock, valued at approximately $700,000.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in PACCAR by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after acquiring an additional 363,782 shares in the last quarter. Geode Capital Management LLC raised its holdings in PACCAR by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock valued at $1,350,867,000 after acquiring an additional 50,622 shares in the last quarter. Norges Bank acquired a new position in PACCAR in the 4th quarter valued at approximately $727,745,000. Capital Research Global Investors raised its holdings in PACCAR by 0.8% in the 4th quarter. Capital Research Global Investors now owns 6,016,243 shares of the company’s stock valued at $658,839,000 after acquiring an additional 45,090 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in PACCAR by 3.5% in the 3rd quarter. Invesco Ltd. now owns 5,396,888 shares of the company’s stock valued at $530,622,000 after acquiring an additional 184,502 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

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

PACCAR Trading Down 4.8%

Shares of PCAR opened at $113.99 on Thursday. PACCAR Inc. has a 1 year low of $90.05 and a 1 year high of $131.88. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $117.59 and a 200-day simple moving average of $117.37. The stock has a market cap of $59.99 billion, a PE ratio of 24.25, a PEG ratio of 1.11 and a beta of 0.98.

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 business had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the prior year, the firm posted $1.46 EPS. PACCAR’s quarterly revenue was down 9.8% compared to the same quarter last year. On average, sell-side analysts predict that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were issued a $0.35 dividend. 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. This is a boost from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s payout ratio is currently 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.