7,466 Shares in PACCAR Inc. $PCAR Purchased by Fideuram Asset Management Ireland dac

Fideuram Asset Management Ireland dac acquired a new position in shares of PACCAR Inc. (NASDAQ:PCAR) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 7,466 shares of the company’s stock, valued at approximately $788,000.

Other hedge funds have also modified their holdings of the company. California Public Employees Retirement System grew its holdings in shares of 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 buying an additional 9,045 shares in the last quarter. Merit Financial Group LLC grew its holdings in shares of 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 buying an additional 15,169 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of 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 buying an additional 13,668 shares in the last quarter. National Pension Service grew its holdings in shares of PACCAR by 5.5% during the third quarter. National Pension Service now owns 939,146 shares of the company’s stock worth $92,337,000 after buying an additional 48,711 shares in the last quarter. Finally, AE Wealth Management LLC grew its holdings in shares of PACCAR by 29.1% during the third quarter. AE Wealth Management LLC now owns 39,594 shares of the company’s stock worth $3,893,000 after buying an additional 8,932 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Down 1.6%

PCAR stock opened at $110.37 on Friday. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $117.34 and a two-hundred day moving average price of $116.20. The company has a market cap of $58.09 billion, a price-to-earnings ratio of 23.48, a P/E/G ratio of 1.02 and a beta of 1.02. PACCAR Inc. has a twelve month low of $90.05 and a twelve month high of $131.88.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, meeting analysts’ consensus estimates 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 business’s revenue was down 9.8% compared to the same quarter last year. During the same period last year, the company earned $1.46 earnings per share. Analysts anticipate that PACCAR Inc. will post 5.59 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be paid a dividend of $0.35 per share. The ex-dividend date is Wednesday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.3%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio is presently 29.79%.

Analysts Set New Price Targets

A number of research firms recently issued reports on PCAR. BNP Paribas Exane began coverage on PACCAR in a report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective for the company. Morgan Stanley set a $109.00 price target on PACCAR and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. decreased their price target on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $122.00.

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.