USS Investment Management Ltd increased its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 14.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 91,943 shares of the company's stock after acquiring an additional 11,717 shares during the quarter. USS Investment Management Ltd's holdings in PACCAR were worth $9,562,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. boosted its stake in shares of 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 during the last quarter. Golden State Wealth Management LLC purchased a new position in PACCAR in the 4th quarter valued at $37,000. Kestra Investment Management LLC acquired a new stake in PACCAR during the 4th quarter worth $37,000. OFI Invest Asset Management purchased a new stake in shares of PACCAR during the fourth quarter worth $43,000. Finally, Atala Financial Inc purchased a new stake in shares of PACCAR during the fourth quarter worth $43,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, Director Pierre R. Breber bought 5,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were bought at an average price 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 in the company, valued at $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.02% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several research firms have recently weighed in on PCAR. Morgan Stanley downgraded shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target on the stock. in a research note on Wednesday, April 16th. Citigroup decreased their target price on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Melius Research set a $120.00 price target on PACCAR in a report on Tuesday, March 18th. Finally, Royal Bank of Canada reduced their price objective on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $104.14.
Get Our Latest Analysis on PACCAR
PACCAR Trading Up 1.6%
PCAR traded up $1.49 during trading hours on Tuesday, reaching $94.73. The company's stock had a trading volume of 880,605 shares, compared to its average volume of 2,766,719. The stock has a market cap of $49.73 billion, a PE ratio of 11.98, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR Inc has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The business's 50-day moving average is $92.69 and its 200-day moving average is $103.22.
PACCAR (NASDAQ:PCAR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). The business had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. PACCAR's revenue for the quarter was down 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.27 EPS. As a group, equities research analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.
PACCAR Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.39%. PACCAR's payout ratio is currently 20.00%.
About PACCAR
(
Free Report)
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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