Royal Bank of Canada Grows Stock Position in PACCAR Inc (NASDAQ:PCAR)

Royal Bank of Canada grew its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 6.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,786,785 shares of the company's stock after acquiring 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.

Other large investors have also made changes to their positions in the company. Meeder Asset Management Inc. raised its stake in PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after purchasing an additional 193 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of PACCAR in the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC purchased a new position in shares of PACCAR during the fourth quarter valued at approximately $37,000. Atala Financial Inc acquired a new stake in PACCAR during the fourth quarter worth approximately $43,000. Finally, Regents Gate Capital LLP purchased a new stake in PACCAR in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Trading Down 1.1%

PACCAR stock traded down $1.08 during midday trading on Friday, reaching $93.25. The stock had a trading volume of 657,145 shares, compared to its average volume of 2,765,053. The stock's 50-day simple moving average is $92.96 and its 200 day simple moving average is $103.62. PACCAR Inc has a twelve month low of $84.65 and a twelve month high of $118.81. 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 capitalization of $48.95 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. During the same period in the prior year, the firm earned $2.27 earnings per share. The business's revenue for the quarter was down 16.0% on a year-over-year basis. Analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.42%. PACCAR's dividend payout ratio (DPR) is 20.00%.

Insiders Place Their Bets

In related news, Director Pierre R. Breber acquired 5,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were bought 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 now directly owns 13,015 shares of the company's stock, valued at $1,168,486.70. This trade represents a 62.38% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.02% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on PCAR shares. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Wall Street Zen raised PACCAR from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. downgraded PACCAR from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. Truist Financial reduced their target price on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Finally, Melius Research set a $120.00 price target on PACCAR in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, PACCAR has an average rating of "Hold" and an average price target 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.