Dimensional Fund Advisors LP Cuts Position in PACCAR Inc. $PCAR

by · The Cerbat Gem

Dimensional Fund Advisors LP lowered its holdings in PACCAR Inc. (NASDAQ:PCAR – Free Report) by 0.2% in the first quarter, Holdings Channel.com reports. The fund owned 5,146,495 shares of the company’s stock after selling 12,184 shares during the quarter. Dimensional Fund Advisors LP’s holdings in PACCAR were worth $594,303,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PCAR. Nomura Asset Management Co. Ltd. lifted its holdings in shares of PACCAR by 2.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock worth $45,281,000 after acquiring an additional 9,524 shares during the period. Nordea Investment Management AB grew its holdings in PACCAR by 12.6% in the fourth quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock valued at $13,487,000 after purchasing an additional 13,668 shares during the period. Merit Financial Group LLC increased its position in 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 purchasing an additional 15,169 shares during the last quarter. Vanguard Group Inc. increased its position in PACCAR by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after purchasing an additional 363,782 shares during the last quarter. Finally, Swiss Life Asset Management Ltd raised its stake in PACCAR by 118.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 638,688 shares of the company’s stock worth $69,943,000 after purchasing an additional 345,937 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

PCAR has been the topic of a number of research analyst reports. BNP Paribas Exane initiated coverage on shares of PACCAR in a report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target on the stock. Evercore set a $139.00 target price on PACCAR in a research report on Monday, May 11th. Morgan Stanley lifted their target price on PACCAR from $109.00 to $113.00 and gave the company an “equal weight” rating in a report on Friday. Truist Financial upped their price target on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $124.18.

Read Our Latest Stock Report on PACCAR

PACCAR Stock Down 1.5%

Shares of PACCAR stock opened at $124.33 on Tuesday. PACCAR Inc. has a twelve month low of $92.25 and a twelve month high of $131.88. The stock has a market cap of $65.43 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97. The company has a current ratio of 3.11, a quick ratio of 2.91 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average price of $117.55 and a 200 day moving average price of $119.75.

PACCAR (NASDAQ:PCAR – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.The company had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the previous year, the firm posted $1.46 earnings per share. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. Equities research analysts forecast that PACCAR Inc. will post 5.65 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s dividend payout ratio is currently 29.79%.

PACCAR Company Profile

(Free Report)

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.

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