Mediolanum International Funds Ltd Lowers Stock Position in PACCAR Inc. $PCAR

Mediolanum International Funds Ltd decreased its position in PACCAR Inc. (NASDAQ:PCAR) by 88.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,087 shares of the company’s stock after selling 183,185 shares during the period. Mediolanum International Funds Ltd’s holdings in PACCAR were worth $2,597,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Deseret Mutual Benefit Administrators increased its stake in shares of PACCAR by 9.9% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock valued at $97,000 after purchasing an additional 80 shares in the last quarter. Gulf International Bank UK Ltd grew its holdings in PACCAR by 0.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock valued at $2,869,000 after purchasing an additional 81 shares during the period. CYBER HORNET ETFs LLC grew its holdings in PACCAR by 6.2% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock valued at $163,000 after purchasing an additional 87 shares during the period. Parkside Financial Bank & Trust increased its position in shares of PACCAR by 3.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock valued at $317,000 after buying an additional 87 shares in the last quarter. Finally, Jackson Square Capital LLC raised its stake in shares of PACCAR by 3.5% during the 4th quarter. Jackson Square Capital LLC now owns 2,650 shares of the company’s stock worth $290,000 after buying an additional 90 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Trading Up 1.5%

Shares of PCAR opened at $126.25 on Wednesday. PACCAR Inc. has a 52-week low of $92.25 and a 52-week high of $131.88. 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 firm’s fifty day moving average is $117.82 and its two-hundred day moving average is $119.87. The stock has a market cap of $66.44 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 1.14 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 earnings per share. Research analysts forecast that PACCAR Inc. will post 5.66 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s dividend payout ratio is currently 29.79%.

Analyst Ratings Changes

A number of research firms recently issued reports on PCAR. Citigroup reissued a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Morgan Stanley boosted their target price on shares of PACCAR from $109.00 to $113.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Evercore set a $139.00 price target on shares of PACCAR in a research report on Monday, May 11th. Finally, Wells Fargo & Company set a $125.00 price objective on PACCAR and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. One investment 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. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Hold” and a consensus price target of $124.18.

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.