PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Ethic Inc.

Ethic Inc. lifted its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114,662 shares of the company's stock after buying an additional 12,188 shares during the quarter. Ethic Inc.'s holdings in PACCAR were worth $11,927,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in PACCAR in the fourth quarter valued at $526,922,000. Kovitz Investment Group Partners LLC boosted its holdings in shares of PACCAR by 370.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock valued at $557,453,000 after buying an additional 4,219,964 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of PACCAR by 25.0% in the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock valued at $1,747,408,000 after buying an additional 3,364,650 shares in the last quarter. Madison Investment Advisors LLC acquired a new position in shares of PACCAR in the 4th quarter valued at $254,651,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock valued at $346,878,000 after buying an additional 1,164,692 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Melius raised PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. JPMorgan Chase & Co. lowered PACCAR from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. UBS Group downgraded shares of PACCAR from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. StockNews.com upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Friday. Finally, Evercore ISI decreased their target price on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $105.23.

PACCAR Price Performance

Shares of PCAR traded down $0.95 during mid-day trading on Friday, hitting $90.61. The company's stock had a trading volume of 2,238,168 shares, compared to its average volume of 2,764,008. 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 firm has a 50-day simple moving average of $94.45 and a 200 day simple moving average of $104.20. The firm has a market capitalization of $47.57 billion, a P/E ratio of 11.46, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 1-year low of $84.65 and a 1-year 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 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%. The firm's quarterly revenue was down 16.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.27 earnings per share. Analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.46%. PACCAR's payout ratio is currently 20.00%.

Insiders Place Their Bets

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

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.