Adage Capital Partners GP L.L.C. Raises Position in PACCAR Inc (NASDAQ:PCAR)

Adage Capital Partners GP L.L.C. boosted its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 42.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 489,898 shares of the company's stock after acquiring an additional 145,800 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.09% of PACCAR worth $50,959,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Madrona Financial Services LLC grew its holdings in shares of PACCAR by 1.1% during the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company's stock worth $837,000 after purchasing an additional 91 shares during the last quarter. Global Financial Private Client LLC lifted its stake in shares of PACCAR by 1.0% during the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company's stock valued at $1,011,000 after acquiring an additional 97 shares during the period. PDS Planning Inc raised its holdings in PACCAR by 3.7% during the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company's stock worth $292,000 after purchasing an additional 101 shares during the last quarter. Valley National Advisers Inc. raised its stake in shares of PACCAR by 0.6% during the fourth quarter. Valley National Advisers Inc. now owns 19,063 shares of the company's stock worth $1,982,000 after buying an additional 106 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in PACCAR by 14.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company's stock worth $88,000 after acquiring an additional 107 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Transactions at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now directly owns 951 shares of the company's stock, valued at $100,929.63. The trade was a 86.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 over the last quarter. 2.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. UBS Group lowered PACCAR from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $108.00 to $78.00 in a report on Monday, April 7th. Citigroup cut their price objective on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Evercore ISI cut their price target on PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Morgan Stanley downgraded PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective for the company. in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lowered PACCAR from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $105.00 to $90.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $107.23.

PACCAR Trading Down 2.1 %

Shares of PCAR stock traded down $1.87 during mid-day trading on Wednesday, reaching $88.43. The stock had a trading volume of 1,441,156 shares, compared to its average volume of 2,766,850. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock's 50-day moving average price is $96.92 and its two-hundred day moving average price is $105.17. The firm has a market capitalization of $46.42 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 52-week low of $84.65 and a 52-week high of $118.81.

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

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.49%. PACCAR's payout ratio is 16.69%.

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.