Mediolanum International Funds Ltd Purchases 27,256 Shares of PACCAR Inc (NASDAQ:PCAR)

Mediolanum International Funds Ltd lifted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 21.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,536 shares of the company’s stock after purchasing an additional 27,256 shares during the quarter. Mediolanum International Funds Ltd’s holdings in PACCAR were worth $15,972,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP bought a new position in PACCAR during the second quarter worth about $26,000. Grove Bank & Trust raised its position in shares of PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares during the period. Sander Capital Advisors Inc. bought a new position in shares of PACCAR during the 3rd quarter valued at about $50,000. Ashton Thomas Securities LLC acquired a new position in shares of PACCAR in the 3rd quarter valued at approximately $52,000. Finally, AdvisorNet Financial Inc increased its stake in PACCAR by 223.4% during the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company’s stock worth $59,000 after purchasing an additional 391 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PCAR. BNP Paribas raised shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Citigroup dropped their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Finally, Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.32.

PACCAR Stock Up 1.5 %

PCAR stock opened at $112.51 on Friday. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The business’s 50 day simple moving average is $110.47 and its 200 day simple moving average is $104.49. The company has a current ratio of 1.67, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $58.99 billion, a PE ratio of 14.22, a PEG ratio of 2.83 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, research analysts anticipate that PACCAR Inc will post 7.71 EPS for the current year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a $3.00 dividend. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s payout ratio is 15.17%.

About PACCAR

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.