Russell Investments Group Ltd. Increases Stake in PACCAR Inc (NASDAQ:PCAR)

Russell Investments Group Ltd. increased its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 13.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 384,314 shares of the company's stock after purchasing an additional 45,211 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of PACCAR worth $37,534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PCAR. Gilliland Jeter Wealth Management LLC acquired a new position in shares of PACCAR during the 4th quarter worth about $425,000. Absolute Capital Management LLC acquired a new position in shares of PACCAR during the 4th quarter worth about $312,000. State of New Jersey Common Pension Fund D boosted its stake in shares of PACCAR by 1.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 293,536 shares of the company's stock worth $28,664,000 after buying an additional 5,413 shares during the last quarter. Syon Capital LLC boosted its stake in shares of PACCAR by 9.7% during the 4th quarter. Syon Capital LLC now owns 6,494 shares of the company's stock worth $634,000 after buying an additional 574 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of PACCAR by 9.6% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,794 shares of the company's stock worth $1,249,000 after buying an additional 1,121 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Trading Down 6.6 %

NASDAQ PCAR traded down $7.53 during mid-day trading on Tuesday, reaching $106.11. 7,370,121 shares of the stock were exchanged, compared to its average volume of 2,411,904. PACCAR Inc has a one year low of $68.40 and a one year high of $125.50. The stock has a 50 day simple moving average of $116.69 and a 200-day simple moving average of $102.18. The stock has a market cap of $55.60 billion, a P/E ratio of 12.04, a P/E/G ratio of 1.68 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.07. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.25 billion. During the same period in the previous year, the firm posted $2.25 earnings per share. The business's revenue was up 2.3% compared to the same quarter last year. On average, analysts anticipate that PACCAR Inc will post 8.21 EPS for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.30 per share. This is a boost from PACCAR's previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. PACCAR's dividend payout ratio (DPR) is currently 12.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Bank of America raised shares of PACCAR from an "underperform" rating to a "neutral" rating and upped their target price for the company from $84.00 to $97.00 in a report on Friday, January 19th. TD Cowen increased their target price on shares of PACCAR from $91.00 to $108.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 24th. The Goldman Sachs Group increased their target price on shares of PACCAR from $106.00 to $121.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. increased their target price on shares of PACCAR from $135.00 to $140.00 and gave the stock an "overweight" rating in a research report on Monday, April 15th. Finally, Royal Bank of Canada initiated coverage on shares of PACCAR in a research report on Tuesday, March 26th. They set a "sector perform" rating and a $123.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PACCAR presently has a consensus rating of "Moderate Buy" and an average price target of $113.08.

Insider Activity

In related news, CEO R Preston Feight sold 27,320 shares of the business's stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the transaction, the chief executive officer now directly owns 145,495 shares in the company, valued at $15,010,719.15. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Todd R. Hubbard sold 4,829 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total value of $493,137.48. Following the sale, the vice president now owns 5,726 shares of the company's stock, valued at $584,739.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO R Preston Feight sold 27,320 shares of the business's stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the sale, the chief executive officer now directly owns 145,495 shares in the company, valued at approximately $15,010,719.15. The disclosure for this sale can be found here. Insiders sold 66,946 shares of company stock worth $7,003,148 over the last three months. 2.02% of the stock is currently owned by insiders.

PACCAR Company 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.