Royal Bank of Canada Boosts Stake in PACCAR Inc (NASDAQ:PCAR)

Royal Bank of Canada grew its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,786,785 shares of the company's stock after buying an additional 100,866 shares during the quarter. Royal Bank of Canada owned about 0.34% of PACCAR worth $185,862,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted its holdings in shares of PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after acquiring an additional 193 shares during the period. Golden State Wealth Management LLC acquired a new position in PACCAR in the 4th quarter worth $37,000. Kestra Investment Management LLC purchased a new position in PACCAR in the 4th quarter valued at about $37,000. OFI Invest Asset Management acquired a new position in PACCAR in the fourth quarter worth about $43,000. Finally, Atala Financial Inc bought a new position in shares of PACCAR in the 4th quarter worth about $43,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several recent research reports. Morgan Stanley downgraded PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target on the stock. in a report on Wednesday, April 16th. Melius Research set a $120.00 target price on PACCAR in a report on Tuesday, March 18th. StockNews.com raised PACCAR from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Citigroup decreased their price target on PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $104.14.

PACCAR Stock Performance

NASDAQ:PCAR traded down $2.17 during mid-day trading on Wednesday, hitting $94.33. The stock had a trading volume of 1,946,576 shares, compared to its average volume of 2,778,262. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The stock has a market cap of $49.52 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a twelve month low of $84.65 and a twelve month high of $118.81. The company's 50 day simple moving average is $93.19 and its 200 day simple moving average is $103.76.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). The company had revenue of $6.91 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $2.27 earnings per share. On average, equities research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently declared 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. This represents a $1.32 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Wednesday, May 14th. PACCAR's dividend payout ratio (DPR) is currently 20.00%.

Insider Transactions at PACCAR

In related news, Director Pierre R. Breber acquired 5,000 shares of PACCAR 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 now directly owns 13,015 shares in the company, valued at $1,168,486.70. This represents a 62.38% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 2.02% of the stock is 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.