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

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

Several other large investors also recently made changes to their positions in the business. Cullen Frost Bankers Inc. lifted its position in PACCAR by 8.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock valued at $8,916,000 after purchasing an additional 6,494 shares during the period. LPL Financial LLC raised its position in shares of PACCAR by 6.1% in the 4th 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 period. Tokio Marine Asset Management Co. Ltd. grew its holdings in PACCAR by 508.2% during 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 purchasing an additional 75,090 shares during the period. American Century Companies Inc. increased its stake in PACCAR by 15.8% in the fourth quarter. American Century Companies Inc. now owns 631,369 shares of the company's stock valued at $65,675,000 after purchasing an additional 86,215 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in PACCAR in the fourth quarter worth $1,096,000. Institutional investors own 64.90% of the company's stock.

Insider Activity at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. This represents a 86.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the sale, the chief financial officer now owns 114,659 shares in the company, valued at $12,150,414.23. This represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by insiders.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $88.98 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $95.31 and a 200 day simple moving average of $104.53. PACCAR Inc has a twelve month low of $84.65 and a twelve month high of $118.81. The company has a market capitalization of $46.71 billion, a PE ratio of 11.25, a P/E/G ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly 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). The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. PACCAR's quarterly revenue was down 16.0% compared to the same quarter last year. During the same period last year, the firm posted $2.27 earnings per share. On average, sell-side analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 annualized dividend and a dividend yield of 1.48%. PACCAR's payout ratio is 20.00%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PCAR. Melius raised PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Bank of America raised shares of PACCAR from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. StockNews.com cut PACCAR from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. Melius Research set a $120.00 price objective on shares of PACCAR in a research note on Tuesday, March 18th. Finally, Morgan Stanley downgraded PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target for the company. in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, PACCAR has an average rating of "Hold" and an average price target of $107.23.

PACCAR Profile

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.

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