PACCAR Inc. (NASDAQ:PCAR) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its stake in PACCAR Inc. (NASDAQ:PCAR - Free Report) by 9.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,754,939 shares of the company's stock after purchasing an additional 987,805 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.24% of PACCAR worth $1,144,578,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of PCAR. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of PACCAR by 666.7% during the 1st 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 period. Meeder Asset Management Inc. grew 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 period. Alpine Bank Wealth Management acquired a new stake in PACCAR during the first quarter worth about $29,000. Sunbelt Securities Inc. raised its holdings in shares of PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after purchasing an additional 350 shares during the period. Finally, JFS Wealth Advisors LLC lifted its stake in shares of PACCAR by 64.9% in the 1st quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock valued at $43,000 after purchasing an additional 174 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Transactions at PACCAR

In related news, Director Pierre R. Breber bought 5,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $89.78 per share, with a total value of $448,900.00. Following the transaction, the director owned 13,015 shares of the company's stock, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 2.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PCAR. Truist Financial dropped their target price 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 raised shares of PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Melius Research set a $120.00 target price on shares of PACCAR in a research note on Tuesday, March 18th. UBS Group cut shares of PACCAR from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Finally, Morgan Stanley lowered PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective on the stock. in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, PACCAR currently has an average rating of "Hold" and a consensus price target of $104.59.

PACCAR Stock Down 1.4%

NASDAQ:PCAR traded down $1.32 on Monday, reaching $95.89. The stock had a trading volume of 2,878,689 shares, compared to its average volume of 2,835,003. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $118.81. The stock has a market cap of $50.34 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 3.59 and a beta of 0.94. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average of $94.21 and a 200 day moving average of $98.82.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data 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). PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.13 billion. During the same quarter last year, the business earned $2.27 EPS. PACCAR's revenue for the quarter was down 16.0% compared to the same quarter last year. On average, research analysts predict that PACCAR Inc. will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.38%. PACCAR's dividend payout ratio (DPR) is presently 20.00%.

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.