PACCAR Inc. $PCAR Stock Holdings Boosted by Korea Investment CORP

Key Points

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Korea Investment CORP boosted its position in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 29.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 445,513 shares of the company's stock after buying an additional 102,275 shares during the quarter. Korea Investment CORP owned approximately 0.08% of PACCAR worth $43,380,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PCAR. E Fund Management Hong Kong Co. Ltd. increased its holdings in PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after buying an additional 240 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in PACCAR in the first quarter valued at about $29,000. Sunbelt Securities Inc. grew its holdings in shares of 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 purchasing an additional 350 shares during the last quarter. Bayforest Capital Ltd raised its position in shares of PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock worth $38,000 after purchasing an additional 274 shares during the period. Finally, Accent Capital Management LLC acquired a new stake in shares of PACCAR during the 1st quarter worth approximately $40,000. 64.90% of the stock is owned by institutional investors.

PACCAR Stock Performance

PCAR stock traded up $3.96 on Friday, reaching $101.50. The company's stock had a trading volume of 3,345,420 shares, compared to its average volume of 2,405,367. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a market capitalization of $53.30 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 3.92 and a beta of 0.91. The firm has a fifty day moving average of $96.87 and a two-hundred day moving average of $96.83. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.02 and a quick ratio of 2.80.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.09. PACCAR had a return on equity of 18.25% and a net margin of 9.88%.The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same period in the prior year, the company posted $2.13 EPS. The business's revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 14th. PACCAR's dividend payout ratio is 22.60%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Royal Bank Of Canada dropped their price target on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Evercore ISI set a $114.00 price target on PACCAR and gave the stock an "outperform" rating in a research report on Tuesday. Truist Financial dropped their price target on PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a research report on Wednesday, July 23rd. Citigroup increased their price target on PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. increased their price target on PACCAR from $95.00 to $97.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $107.68.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the completion of the transaction, the chief executive officer directly owned 223,190 shares of the company's stock, valued at approximately $22,211,868.80. This trade represents a 15.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brice J. Poplawski sold 5,000 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total value of $504,700.00. Following the transaction, the chief financial officer directly owned 468 shares of the company's stock, valued at approximately $47,239.92. The trade was a 91.44% 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 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.