GF Fund Management CO. LTD. Invests $10.34 Million in PACCAR Inc (NASDAQ:PCAR)

GF Fund Management CO. LTD. bought a new stake in shares of 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. The fund bought 99,367 shares of the company's stock, valued at approximately $10,336,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PCAR. Wellington Management Group LLP raised its position in shares of PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock worth $1,747,408,000 after buying an additional 3,364,650 shares in the last quarter. Geode Capital Management LLC raised its position in shares of PACCAR by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock worth $1,275,269,000 after buying an additional 362,637 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of PACCAR by 5.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company's stock worth $1,119,997,000 after buying an additional 572,231 shares in the last quarter. FMR LLC raised its position in shares of PACCAR by 1.9% in the fourth quarter. FMR LLC now owns 8,791,660 shares of the company's stock worth $914,509,000 after buying an additional 167,165 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of PACCAR by 8.5% in the fourth quarter. Northern Trust Corp now owns 7,202,358 shares of the company's stock worth $749,189,000 after buying an additional 565,967 shares in the last quarter. Institutional investors own 64.90% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on PCAR shares. Melius raised PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. UBS Group lowered shares of PACCAR from a "neutral" rating to a "sell" rating and cut their price target for the company from $108.00 to $78.00 in a research report on Monday, April 7th. Truist Financial cut their price target on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Melius Research set a $120.00 price target on shares of PACCAR in a research report on Tuesday, March 18th. Finally, Wall Street Zen upgraded shares of PACCAR from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $104.14.

PACCAR Trading Up 1.9%

Shares of PACCAR stock traded up $1.73 during trading on Tuesday, reaching $94.97. 2,967,401 shares of the stock were exchanged, compared to its average volume of 2,774,878. 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 stock's fifty day moving average is $92.69 and its 200 day moving average is $103.22. The firm has a market cap of $49.86 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth 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 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 firm had revenue of $6.91 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.27 earnings per share. As a group, equities research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be issued 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 dividend yield of 1.39%. PACCAR's dividend payout ratio is currently 20.00%.

Insider Transactions at PACCAR

In related news, Director Pierre R. Breber purchased 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the purchase, the director now directly owns 13,015 shares in the company, valued at approximately $1,168,486.70. This represents a 62.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.02% of the stock is currently owned by company insiders.

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.