PACCAR Inc. $PCAR Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. raised its holdings in PACCAR Inc. (NASDAQ:PCAR) by 77.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 228,946 shares of the company’s stock after purchasing an additional 100,285 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in PACCAR were worth $22,510,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PCAR. State Street Corp increased its position in PACCAR by 1.0% in the 2nd quarter. State Street Corp now owns 22,534,596 shares of the company’s stock valued at $2,142,139,000 after acquiring an additional 218,188 shares during the period. Geode Capital Management LLC grew its stake in shares of PACCAR by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 12,455,453 shares of the company’s stock valued at $1,184,112,000 after purchasing an additional 159,632 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of PACCAR by 25.2% in the second quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock valued at $551,211,000 after purchasing an additional 1,165,443 shares during the period. Invesco Ltd. raised its stake in shares of PACCAR by 5.0% during the second quarter. Invesco Ltd. now owns 5,212,386 shares of the company’s stock worth $495,489,000 after purchasing an additional 246,410 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of PACCAR during the second quarter worth approximately $472,520,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Up 2.5%

PCAR stock opened at $118.20 on Friday. The company’s 50 day simple moving average is $106.37 and its 200-day simple moving average is $100.93. The firm has a market capitalization of $62.08 billion, a PE ratio of 23.13, a P/E/G ratio of 14.34 and a beta of 1.01. PACCAR Inc. has a 12 month low of $84.65 and a 12 month high of $119.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.12 and a quick ratio of 2.91.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The company’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 earnings per share. Equities analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is presently 25.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PCAR shares. Sanford C. Bernstein reissued an “outperform” rating and issued a $125.00 price objective on shares of PACCAR in a research note on Friday, December 5th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $90.00 target price on shares of PACCAR in a report on Tuesday, October 21st. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $115.00 price objective (up previously from $105.00) on shares of PACCAR in a report on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $111.04.

Insider Activity at PACCAR

In related news, CFO Brice J. Poplawski sold 3,369 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the transaction, the chief financial officer owned 468 shares of the company’s stock, valued at approximately $47,338.20. The trade was a 87.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.02% of the stock is currently owned by insiders.

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.