Bank of America Corp DE Lowers Stock Holdings in PACCAR Inc. $PCAR

Key Points

• Bank of America reduced its PACCAR holdings by 9.1% in the first quarter, selling 1.17 million shares and retaining 11.63 million shares worth approximately $1.34 billion. Institutional investors collectively own 64.9% of the company.
• PACCAR reported quarterly earnings of $1.43 per share, topping the $1.36 analyst consensus, while revenue of $7.55 billion exceeded expectations of $7.05 billion and rose slightly year over year.
• The company declared a quarterly dividend of $0.35 per share, equivalent to an annualized $1.40 payout and a 1.0% yield. Analysts raised several price targets, but the overall consensus remains “Hold,” with an average target of $131.70.

Bank of America Corp DE lowered its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 9.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 11,629,436 shares of the company's stock after selling 1,165,014 shares during the period. Bank of America Corp DE owned about 2.21% of PACCAR worth $1,343,200,000 at the end of the most recent quarter.

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

PACCAR Stock Performance

NASDAQ:PCAR opened at $133.76 on Friday. The firm has a market capitalization of $70.40 billion, a PE ratio of 28.10, a PEG ratio of 1.23 and a beta of 0.97. The stock's fifty day moving average is $120.95 and its 200 day moving average is $120.78. PACCAR Inc. has a fifty-two week low of $92.25 and a fifty-two week high of $139.24. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 1.82.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The business had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.05 billion. During the same quarter in the previous year, the business posted $1.37 earnings per share. The business's revenue was up .5% compared to the same quarter last year. On average, sell-side analysts anticipate that PACCAR Inc. will post 5.66 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.0%. PACCAR's payout ratio is currently 29.79%.

More PACCAR News

Here are the key news stories impacting PACCAR this week:

• Positive Sentiment: PACCAR’s second-quarter results exceeded expectations, with earnings per share of $1.43 versus the $1.36 consensus estimate and revenue of $7.55 billion compared with expectations of $7.05 billion. Revenue increased slightly year over year, while margin gains and record parts revenue reinforced the company’s earnings quality. Why PACCAR Is Up After Q2 Margin Gains and Record Parts Revenue
• Positive Sentiment: Management’s earnings-call commentary highlighted stable truck demand, regulatory clarity and continued strategic investments, supporting expectations for relatively resilient margins and a firm outlook. PACCAR Earnings Call Highlights Strong Momentum
• Positive Sentiment: JPMorgan raised its PACCAR price target from $155 to $164 and maintained an “overweight” rating, indicating confidence that earnings strength can support additional appreciation. JPMorgan Raises PACCAR Price Target
• Positive Sentiment: Wells Fargo increased its target from $125 to $157, while Citigroup raised its target from $125 to $140. These revisions suggest analysts see improved fundamentals, even though both firms retained neutral-style ratings. Analyst Price Target Revisions
• Neutral Sentiment: Analysts continue to assign an average “hold” rating to PACCAR. The cautious consensus, combined with Citigroup’s “neutral” and Wells Fargo’s “equal weight” ratings, indicates that valuation and the already-strong share performance remain areas of investor concern. PACCAR Receives Average Hold Rating

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup upped their price target on PACCAR from $125.00 to $140.00 and gave the stock a "neutral" rating in a research note on Thursday. Evercore set a $139.00 target price on shares of PACCAR in a report on Monday, May 11th. Wells Fargo & Company upped their target price on shares of PACCAR from $125.00 to $157.00 and gave the stock an "equal weight" rating in a research report on Thursday. Truist Financial raised their target price on shares of PACCAR from $126.00 to $131.00 and gave the company a "hold" rating in a research note on Thursday, July 2nd. Finally, Morgan Stanley set a $119.00 target price on shares of PACCAR in a research note on Wednesday. Three analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $131.70.

PACCAR Profile

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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