Gulf International Bank UK Ltd Increases Stake in PACCAR Inc (NASDAQ:PCAR)

Gulf International Bank UK Ltd increased its position in PACCAR Inc (NASDAQ:PCAR) by 11.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 47,673 shares of the company’s stock after acquiring an additional 4,757 shares during the quarter. Gulf International Bank UK Ltd’s holdings in PACCAR were worth $5,906,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. RFG Advisory LLC grew its holdings in PACCAR by 14.4% during the 1st quarter. RFG Advisory LLC now owns 3,314 shares of the company’s stock valued at $411,000 after buying an additional 417 shares in the last quarter. Soundmark Wealth Management LLC grew its holdings in PACCAR by 11.3% during the 1st quarter. Soundmark Wealth Management LLC now owns 5,320 shares of the company’s stock valued at $659,000 after buying an additional 541 shares in the last quarter. Park Avenue Securities LLC grew its holdings in PACCAR by 17.7% during the 1st quarter. Park Avenue Securities LLC now owns 26,796 shares of the company’s stock valued at $3,320,000 after buying an additional 4,039 shares in the last quarter. Apella Capital LLC grew its holdings in PACCAR by 1.9% during the 1st quarter. Apella Capital LLC now owns 7,866 shares of the company’s stock valued at $937,000 after buying an additional 145 shares in the last quarter. Finally, First National Bank of Mount Dora Trust Investment Services purchased a new position in PACCAR during the 1st quarter valued at about $1,804,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

NASDAQ:PCAR opened at $105.96 on Friday. The business has a 50 day moving average of $108.64 and a 200 day moving average of $107.39. The company has a market capitalization of $55.54 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.64 and a beta of 0.94. PACCAR Inc has a 1-year low of $76.93 and a 1-year high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.25 EPS. On average, sell-side analysts predict that PACCAR Inc will post 8.36 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th were paid a $0.30 dividend. This is a boost from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Tuesday, May 14th. PACCAR’s payout ratio is 12.45%.

Insiders Place Their Bets

In other PACCAR news, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at $154,301.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. Insiders have sold 45,040 shares of company stock valued at $4,779,241 in the last ninety days. Company insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PCAR. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the company from $104.00 to $136.00 in a report on Friday, March 15th. Truist Financial reiterated a “hold” rating and set a $121.00 price target (up previously from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price target on PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. The Goldman Sachs Group lifted their price target on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada assumed coverage on PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price target for the company. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $112.62.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.