PACCAR Inc. (NASDAQ:PCAR) Shares Bought by Madison Asset Management LLC

Madison Asset Management LLC grew its position in shares of PACCAR Inc. (NASDAQ:PCAR - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,569,851 shares of the company's stock after acquiring an additional 121,755 shares during the quarter. PACCAR comprises about 2.8% of Madison Asset Management LLC's investment portfolio, making the stock its 4th largest holding. Madison Asset Management LLC owned about 0.49% of PACCAR worth $250,226,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PCAR. E Fund Management Hong Kong Co. Ltd. raised its position 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 worth $27,000 after acquiring an additional 240 shares in the last quarter. Meeder Asset Management Inc. raised its position in PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after acquiring an additional 193 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in PACCAR in the first quarter worth about $29,000. Sunbelt Securities Inc. raised its position in PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after acquiring an additional 350 shares in the last quarter. Finally, JFS Wealth Advisors LLC raised its position in PACCAR by 64.9% in the first quarter. JFS Wealth Advisors LLC now owns 442 shares of the company's stock worth $43,000 after acquiring an additional 174 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen downgraded PACCAR from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Royal Bank Of Canada cut their price objective on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a report on Thursday, May 8th. JPMorgan Chase & Co. cut PACCAR from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $105.00 to $90.00 in a research note on Wednesday, April 30th. Evercore ISI dropped their target price on PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. Finally, Truist Financial dropped their target price on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $104.59.

PACCAR Trading Up 6.1%

NASDAQ:PCAR opened at $98.58 on Wednesday. The company has a market capitalization of $51.75 billion, a P/E ratio of 14.94, a P/E/G ratio of 3.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 2.35. The stock's 50 day moving average price is $94.71 and its 200 day moving average price is $98.51. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The company had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $7.02 billion. During the same period in the prior year, the business earned $2.13 earnings per share. PACCAR's revenue for the quarter was down 15.7% compared to the same quarter last year. On average, research analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.32 annualized dividend and a yield of 1.34%. PACCAR's dividend payout ratio (DPR) is currently 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.

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