GF Fund Management CO. LTD. Takes Position in PACCAR Inc (NASDAQ:PCAR)

GF Fund Management CO. LTD. bought a new position in PACCAR Inc (NASDAQ:PCAR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 99,367 shares of the company's stock, valued at approximately $10,336,000.

Several other large investors also recently bought and sold shares of PCAR. 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 valued at $29,000 after acquiring an additional 193 shares during the last quarter. Golden State Wealth Management LLC bought a new position in PACCAR during the fourth quarter valued at $37,000. Kestra Investment Management LLC bought a new position in PACCAR during the fourth quarter valued at $37,000. Sunbelt Securities Inc. increased its position in PACCAR by 8,750.0% during the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after acquiring an additional 350 shares during the last quarter. Finally, OFI Invest Asset Management bought a new position in PACCAR during the fourth quarter valued at $43,000. Institutional investors own 64.90% of the company's stock.

Analyst Ratings Changes

PCAR has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their target price on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. JPMorgan Chase & Co. downgraded shares of PACCAR from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $105.00 to $90.00 in a report on Wednesday, April 30th. Morgan Stanley downgraded shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective on the stock. in a report on Wednesday, April 16th. Finally, Truist Financial cut their price target on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. One investment 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 company. Based on data from MarketBeat, PACCAR currently has an average rating of "Hold" and a consensus price target of $104.14.

Insider Buying and Selling at PACCAR

In other news, Director Pierre R. Breber acquired 5,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were bought 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 directly owns 13,015 shares of the company's stock, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.02% of the stock is currently owned by corporate insiders.

PACCAR Trading Up 0.1%

Shares of PACCAR stock traded up $0.14 during mid-day trading on Thursday, hitting $94.19. 449,101 shares of the stock were exchanged, compared to its average volume of 2,761,913. The company has a 50-day simple moving average of $92.56 and a 200 day simple moving average of $103.10. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a twelve month low of $84.65 and a twelve month high of $118.81. The stock has a market capitalization of $49.45 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). The business had revenue of $6.91 billion for 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 company's quarterly revenue was down 16.0% on a year-over-year basis. During the same period last year, the firm earned $2.27 earnings per share. Research analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.40%. PACCAR's dividend payout ratio (DPR) is 20.00%.

PACCAR Company 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.