PACCAR Inc. $PCAR Shares Sold by ING Groep NV

ING Groep NV lessened its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 91.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,766 shares of the company’s stock after selling 41,726 shares during the quarter. ING Groep NV’s holdings in PACCAR were worth $412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Ares Financial Consulting LLC purchased a new position in PACCAR in the 4th quarter valued at $27,000. MCF Advisors LLC raised its position in PACCAR by 57.5% during the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after buying an additional 92 shares during the last quarter. Elyxium Wealth LLC acquired a new stake in shares of PACCAR in the 4th quarter worth $30,000. Wealth Watch Advisors INC acquired a new stake in shares of PACCAR in the 3rd quarter worth $32,000. Finally, Camelot Portfolios LLC purchased a new stake in shares of PACCAR in the fourth quarter valued at about $33,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on PCAR. BNP Paribas Exane started coverage on shares of PACCAR in a report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price target for the company. Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Evercore set a $139.00 target price on PACCAR in a research report on Monday, May 11th. Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. decreased their price target on PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. One 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $122.00.

PACCAR Stock Performance

Shares of PCAR opened at $113.99 on Thursday. 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 Inc. has a 52-week low of $90.05 and a 52-week high of $131.88. The company has a 50-day simple moving average of $117.59 and a 200-day simple moving average of $117.37. The company has a market capitalization of $59.99 billion, a PE ratio of 24.25, a P/E/G 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 for the quarter, hitting the consensus estimate of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same period in the prior year, the business posted $1.46 earnings per share. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. Equities research analysts predict that PACCAR Inc. will post 5.59 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th were issued a $0.35 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s payout ratio is currently 29.79%.

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.