326,745 Shares in PACCAR Inc. $PCAR Acquired by Life Cycle Investment Partners Ltd

Life Cycle Investment Partners Ltd acquired a new position in PACCAR Inc. (NASDAQ:PCAR) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 326,745 shares of the company’s stock, valued at approximately $35,782,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of PACCAR by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after acquiring an additional 363,782 shares during the period. Capital Research Global Investors lifted its stake in shares of PACCAR by 20.3% in the third quarter. Capital Research Global Investors now owns 5,971,153 shares of the company’s stock worth $587,084,000 after acquiring an additional 1,009,134 shares during the period. Invesco Ltd. lifted its stake in shares of PACCAR by 3.5% in the third quarter. Invesco Ltd. now owns 5,396,888 shares of the company’s stock worth $530,622,000 after acquiring an additional 184,502 shares during the period. UBS Group AG lifted its stake in shares of PACCAR by 74.4% in the fourth quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock worth $498,146,000 after acquiring an additional 1,940,260 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of PACCAR by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 3,256,671 shares of the company’s stock worth $320,196,000 after acquiring an additional 22,941 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. BNP Paribas Exane assumed coverage on PACCAR in a report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price for the company. JPMorgan Chase & Co. lowered their target price on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Wells Fargo & Company set a $125.00 target price on PACCAR and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. Finally, Morgan Stanley set a $109.00 target price on PACCAR and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. One research 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. Based on data from MarketBeat, PACCAR currently has an average rating of “Hold” and a consensus price target of $122.00.

PACCAR Trading Up 0.0%

NASDAQ PCAR opened at $109.35 on Friday. The company has a market cap of $57.55 billion, a price-to-earnings ratio of 23.27, a P/E/G ratio of 1.02 and a beta of 1.02. PACCAR Inc. has a 52 week low of $90.05 and a 52 week high of $131.88. The business has a 50 day moving average price of $117.77 and a 200-day moving average price of $115.75. 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 released its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. The firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.46 earnings per share. As a group, equities analysts expect that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be issued 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 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, May 13th. PACCAR’s dividend payout ratio is presently 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.