Swiss Life Asset Management Ltd Has $69.94 Million Stock Holdings in PACCAR Inc. $PCAR

Key Points

• Swiss Life Asset Management increased its PACCAR stake by 118.2% in the fourth quarter, buying 345,937 additional shares and bringing its holdings to 638,688 shares worth about $69.94 million.
• PACCAR reported quarterly EPS of $1.15, matching analyst expectations, while revenue of $6.78 billion came in above estimates but was down 9.8% year over year.
• The company boosted its quarterly dividend to $0.35 per share from $0.33, and analysts currently rate the stock a consensus "Hold" with a target price of $119.73.

Swiss Life Asset Management Ltd grew its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 118.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 638,688 shares of the company's stock after purchasing an additional 345,937 shares during the quarter. Swiss Life Asset Management Ltd owned approximately 0.12% of PACCAR worth $69,943,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Asahi Life Asset Management CO. LTD. acquired a new stake in shares of PACCAR during the fourth quarter valued at about $491,000. Bensler LLC acquired a new stake in shares of PACCAR during the fourth quarter valued at about $220,000. NewEdge Wealth LLC acquired a new stake in shares of PACCAR during the fourth quarter valued at about $448,000. Denali Advisors LLC boosted its stake in shares of PACCAR by 10.6% during the fourth quarter. Denali Advisors LLC now owns 8,350 shares of the company's stock valued at $914,000 after purchasing an additional 800 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of PACCAR by 18.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,508 shares of the company's stock valued at $3,231,000 after purchasing an additional 4,619 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PCAR. Truist Financial lifted their price target on PACCAR from $120.00 to $126.00 and gave the company a "hold" rating in a research note on Wednesday, April 29th. Morgan Stanley set a $109.00 price target on PACCAR and gave the company an "equal weight" rating in a research note on Tuesday, February 3rd. Sanford C. Bernstein restated an "outperform" rating on shares of PACCAR in a research report on Tuesday, February 24th. Wall Street Zen upgraded PACCAR from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. Finally, Citigroup restated a "neutral" rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, PACCAR has an average rating of "Hold" and a consensus target price of $119.73.

PACCAR Price Performance

Shares of PCAR opened at $114.31 on Monday. PACCAR Inc. has a 1 year low of $90.05 and a 1 year high of $131.88. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The company has a market capitalization of $60.16 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 1.06 and a beta of 1.02. The business has a 50-day moving average of $120.18 and a 200-day moving average of $114.92.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share (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 during the quarter, compared to the consensus estimate of $6.44 billion. During the same period last year, the company earned $1.46 earnings per share. The firm's revenue was down 9.8% compared to the same quarter last year. As a group, equities research analysts anticipate that PACCAR Inc. will post 5.6 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, May 13th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, May 13th. This is an increase from PACCAR's previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. PACCAR's dividend payout ratio is presently 28.09%.

Insiders Place Their Bets

In other PACCAR news, CFO Brice J. Poplawski sold 2,200 shares of PACCAR stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $130.41, for a total value of $286,902.00. Following the completion of the sale, the chief financial officer directly owned 903 shares in the company, valued at approximately $117,760.23. The trade was a 70.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.99% of the company's stock.

PACCAR Company 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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