294,795 Shares in PACCAR Inc (NASDAQ:PCAR) Purchased by AlTi Global Inc.

AlTi Global Inc. purchased a new position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 294,795 shares of the company's stock, valued at approximately $31,549,000. PACCAR comprises 0.8% of AlTi Global Inc.'s investment portfolio, making the stock its 19th biggest holding. AlTi Global Inc. owned about 0.06% of PACCAR at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Meeder Asset Management Inc. increased its position in PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after buying an additional 193 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in PACCAR in the 4th quarter valued at about $37,000. Kestra Investment Management LLC purchased a new position in PACCAR in the 4th quarter valued at about $37,000. OFI Invest Asset Management acquired a new stake in shares of PACCAR during the 4th quarter worth about $43,000. Finally, Atala Financial Inc purchased a new stake in shares of PACCAR during the fourth quarter worth about $43,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PCAR shares. Melius raised PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Bank of America raised shares of 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 report on Tuesday, January 14th. JPMorgan Chase & Co. cut shares of PACCAR from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $105.00 to $90.00 in a research note on Wednesday, April 30th. Melius Research set a $120.00 target price on PACCAR in a report on Tuesday, March 18th. Finally, Citigroup dropped their price target on PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $107.23.

Insider Buying and Selling at PACCAR

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 951 shares in the company, valued at $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Harrie Schippers sold 28,676 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the sale, the chief financial officer now owns 114,659 shares of the company's stock, valued at $12,150,414.23. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company's stock.

PACCAR Stock Down 0.5 %

NASDAQ:PCAR traded down $0.45 during trading hours on Monday, hitting $89.45. 3,627,632 shares of the company's stock traded hands, compared to its average volume of 2,757,659. The stock's fifty day moving average price is $95.64 and its two-hundred day moving average price is $104.64. The firm has a market cap of $46.96 billion, a P/E ratio of 11.31, 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 quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a twelve month low of $84.65 and a twelve month high of $118.81.

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

PACCAR Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.48%. PACCAR's payout ratio is 20.00%.

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.