Zurich Insurance Group Ltd FI Has $2.66 Million Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Zurich Insurance Group Ltd FI grew its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 22.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,536 shares of the company's stock after acquiring an additional 4,686 shares during the quarter. Zurich Insurance Group Ltd FI's holdings in PACCAR were worth $2,656,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Wellington Management Group LLP lifted 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 valued at $1,747,408,000 after buying an additional 3,364,650 shares during the last quarter. Geode Capital Management LLC raised its stake in PACCAR by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock valued at $1,275,269,000 after purchasing an additional 362,637 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in PACCAR by 5.6% during 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 purchasing an additional 572,231 shares during the period. FMR LLC lifted its position in PACCAR by 1.9% during the fourth quarter. FMR LLC now owns 8,791,660 shares of the company's stock worth $914,509,000 after purchasing an additional 167,165 shares during the period. Finally, Northern Trust Corp grew its stake in PACCAR by 8.5% during 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. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Trading Down 1.2%

Shares of PCAR stock traded down $1.09 during trading hours on Monday, hitting $93.24. 2,249,642 shares of the company's stock traded hands, compared to its average volume of 2,774,105. The stock has a market cap of $48.95 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The stock's 50 day simple moving average is $92.82 and its 200 day simple moving average is $103.37. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12 month low of $84.65 and a 12 month high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted 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). The company had revenue of $6.91 billion during 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 business's revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.27 earnings per share. On average, sell-side analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be given 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 1.42%. PACCAR's dividend payout ratio (DPR) is 20.00%.

Insider Transactions at PACCAR

In other PACCAR news, Director Pierre R. Breber purchased 5,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the acquisition, the director now owns 13,015 shares of the company's stock, 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 Securities & Exchange Commission, which is available at the SEC website. 2.02% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Melius Research set a $120.00 price objective on shares of PACCAR in a research note on Tuesday, March 18th. Citigroup reduced their target price on PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. UBS Group cut PACCAR from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $108.00 to $78.00 in a report on Monday, April 7th. Evercore ISI reduced their price objective on PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Finally, Royal Bank of Canada lowered their target price on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. One investment 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 company. According to data from MarketBeat, PACCAR presently has a consensus rating of "Hold" and an average target price of $104.14.

About PACCAR

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.