79,957 Shares in PACCAR Inc (NASDAQ:PCAR) Bought by Concentric Capital Strategies LP

Concentric Capital Strategies LP acquired a new position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 79,957 shares of the company's stock, valued at approximately $8,317,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. lifted its position in shares of PACCAR by 8.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock worth $8,916,000 after acquiring an additional 6,494 shares in the last quarter. LPL Financial LLC increased its stake in PACCAR by 6.1% in the fourth quarter. LPL Financial LLC now owns 212,405 shares of the company's stock valued at $22,094,000 after acquiring an additional 12,143 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in PACCAR by 508.2% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 89,865 shares of the company's stock valued at $9,348,000 after acquiring an additional 75,090 shares during the last quarter. American Century Companies Inc. grew its stake in shares of PACCAR by 15.8% during the fourth quarter. American Century Companies Inc. now owns 631,369 shares of the company's stock valued at $65,675,000 after buying an additional 86,215 shares during the last quarter. Finally, Decker Retirement Planning Inc. bought a new position in shares of PACCAR during the fourth quarter valued at about $1,096,000. 64.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at approximately $12,150,414.23. This trade represents a 20.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pierre R. Breber acquired 5,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the purchase, the director now owns 13,015 shares of the company's stock, valued at approximately $1,168,486.70. This represents a 62.38% increase in their position. The disclosure for this purchase can be found here. 2.02% of the stock is currently owned by insiders.

PACCAR Stock Up 5.5%

PCAR traded up $4.96 on Monday, hitting $95.62. The company had a trading volume of 1,015,563 shares, compared to its average volume of 2,981,381. The stock has a fifty day simple moving average of $94.45 and a 200-day simple moving average of $104.20. PACCAR Inc has a 52-week low of $84.65 and a 52-week high of $118.81. The firm has a market capitalization of $50.19 billion, a P/E ratio of 12.09, a P/E/G ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The business had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. During the same quarter in the previous year, the business posted $2.27 earnings per share. PACCAR's revenue for the quarter was down 16.0% on a year-over-year basis. As a group, equities analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Wednesday, May 14th. PACCAR's payout ratio is 20.00%.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of recent research reports. StockNews.com raised PACCAR from a "sell" rating to a "hold" rating in a research note on Friday. JPMorgan Chase & Co. cut PACCAR from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $105.00 to $90.00 in a research note on Wednesday, April 30th. Bank of America raised PACCAR from a "neutral" rating to a "buy" rating and raised their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Royal Bank of Canada cut their target price on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research note on Thursday. Finally, Truist Financial cut their target price on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $105.23.

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.