PACCAR Inc (NASDAQ:PCAR) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,634,825 shares of the company's stock after selling 46,000 shares during the period. Swiss National Bank owned about 0.31% of PACCAR worth $159,641,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Fisher Asset Management LLC lifted its position in PACCAR by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company's stock valued at $480,104,000 after buying an additional 89,984 shares in the last quarter. Robertson Stephens Wealth Management LLC acquired a new position in shares of PACCAR during the fourth quarter worth $201,000. McIlrath & Eck LLC lifted its position in shares of PACCAR by 9.0% during the fourth quarter. McIlrath & Eck LLC now owns 23,253 shares of the company's stock worth $2,271,000 after purchasing an additional 1,912 shares in the last quarter. Fortitude Advisory Group L.L.C. lifted its position in shares of PACCAR by 0.7% during the fourth quarter. Fortitude Advisory Group L.L.C. now owns 32,628 shares of the company's stock worth $3,186,000 after purchasing an additional 220 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its position in shares of PACCAR by 9.0% during the fourth quarter. First Trust Direct Indexing L.P. now owns 12,135 shares of the company's stock worth $1,185,000 after purchasing an additional 1,001 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of PACCAR in a research report on Monday, January 8th. They set an "overweight" rating and a $125.00 target price on the stock. TD Cowen boosted 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. Bank of America raised shares of PACCAR from an "underperform" rating to a "neutral" rating and upped their price target for the company from $84.00 to $97.00 in a report on Friday, January 19th. UBS Group raised shares of PACCAR from a "neutral" rating to a "buy" rating and upped their price target for the company from $104.00 to $136.00 in a report on Friday, March 15th. Finally, JPMorgan Chase & Co. cut their price target on shares of PACCAR from $140.00 to $130.00 and set an "overweight" rating on the stock in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, PACCAR presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.62.

PACCAR Stock Performance

Shares of NASDAQ:PCAR traded down $1.67 on Friday, reaching $104.79. 3,899,036 shares of the company's stock were exchanged, compared to its average volume of 2,455,959. The firm has a market capitalization of $54.91 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 1.60 and a beta of 0.96. PACCAR Inc has a fifty-two week low of $68.40 and a fifty-two week high of $125.50. The business's 50-day moving average is $116.54 and its two-hundred day moving average is $102.39. The company has a quick ratio of 2.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The business had revenue of $8.24 billion for the quarter, compared to analysts' expectations of $8.25 billion. During the same quarter last year, the company earned $2.25 EPS. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that PACCAR Inc will post 8.23 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Tuesday, May 14th. This is a boost from PACCAR's previous quarterly dividend of $0.27. PACCAR's dividend payout ratio (DPR) is 11.20%.

Insider Buying and Selling

In related news, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the sale, the chief financial officer now owns 103,547 shares of the company's stock, valued at approximately $10,984,265.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the transaction, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,984,265.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the transaction, the vice president now owns 5,726 shares of the company's stock, valued at approximately $607,814.90. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company's stock.

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.

Want to see what other hedge funds are holding PCAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PACCAR Inc (NASDAQ:PCAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.