Rhumbline Advisers increased its position in shares of PACCAR Inc (NASDAQ:PCAR) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 636,245 shares of the company’s stock after acquiring an additional 12,950 shares during the quarter. Rhumbline Advisers’ holdings in PACCAR were worth $45,224,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in PCAR. Boston Partners acquired a new stake in shares of PACCAR during the third quarter worth about $155,973,000. Point72 Asset Management L.P. lifted its holdings in PACCAR by 845.5% in the third quarter. Point72 Asset Management L.P. now owns 919,047 shares of the company’s stock valued at $66,484,000 after acquiring an additional 821,847 shares during the period. Fulcrum Capital LLC acquired a new position in PACCAR in the fourth quarter valued at approximately $52,026,000. Bank of New York Mellon Corp lifted its holdings in PACCAR by 11.4% in the third quarter. Bank of New York Mellon Corp now owns 6,765,314 shares of the company’s stock valued at $489,402,000 after acquiring an additional 694,185 shares during the period. Finally, First Trust Advisors LP lifted its holdings in PACCAR by 240.0% in the third quarter. First Trust Advisors LP now owns 606,651 shares of the company’s stock valued at $43,885,000 after acquiring an additional 428,228 shares during the period. 64.40% of the stock is owned by hedge funds and other institutional investors.
PACCAR Inc (PCAR) opened at $68.78 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.90 and a current ratio of 1.08. The firm has a market capitalization of $24,196.80, a P/E ratio of 16.15, a PEG ratio of 1.31 and a beta of 1.22. PACCAR Inc has a 52 week low of $61.93 and a 52 week high of $79.69.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 13th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Monday, February 12th. PACCAR’s payout ratio is 21.05%.
A number of research analysts have issued reports on the company. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a report on Tuesday, January 2nd. Wells Fargo & Co boosted their price target on PACCAR from $75.00 to $80.00 and gave the company a “market perform” rating in a report on Thursday, January 18th. BidaskClub raised PACCAR from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. JPMorgan Chase & Co. set a $83.00 price target on PACCAR and gave the company a “buy” rating in a report on Wednesday, November 29th. Finally, Piper Jaffray Companies set a $67.00 price target on PACCAR and gave the company a “hold” rating in a report on Sunday, December 10th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $76.26.
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PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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