National Pension Service Grows Position in PACCAR Inc (NASDAQ:PCAR)

National Pension Service lifted its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,544,288 shares of the company's stock after buying an additional 45,064 shares during the quarter. National Pension Service owned about 0.30% of PACCAR worth $150,800,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in PCAR. Lord Abbett & CO. LLC purchased a new position in PACCAR in the third quarter worth $33,668,000. International Assets Investment Management LLC boosted its stake in shares of PACCAR by 8,388.6% during the fourth quarter. International Assets Investment Management LLC now owns 376,132 shares of the company's stock valued at $36,729,000 after acquiring an additional 371,701 shares during the last quarter. Clarius Group LLC increased its position in PACCAR by 52.7% during the 4th quarter. Clarius Group LLC now owns 1,012,755 shares of the company's stock worth $98,896,000 after purchasing an additional 349,727 shares in the last quarter. Invesco Ltd. raised its stake in PACCAR by 9.9% in the 3rd quarter. Invesco Ltd. now owns 3,645,267 shares of the company's stock valued at $309,921,000 after purchasing an additional 328,347 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of PACCAR by 6.0% during the third quarter. Northern Trust Corp now owns 5,540,803 shares of the company's stock worth $471,079,000 after buying an additional 316,001 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Buying and Selling at PACCAR

In related news, CFO Harrie Schippers sold 32,797 shares of PACCAR stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.08, for a total value of $3,479,105.76. Following the transaction, the chief financial officer now owns 103,547 shares of the company's stock, valued at approximately $10,984,265.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Harrie Schippers sold 32,797 shares of the business's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the transaction, the chief financial officer now directly owns 103,547 shares in the company, valued at approximately $10,984,265.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the sale, the vice president now owns 1,468 shares of the company's stock, valued at $154,301.48. The disclosure for this sale can be found here. In the last three months, insiders sold 43,920 shares of company stock valued at $4,650,324. 2.02% of the stock is owned by insiders.

PACCAR Stock Performance

Shares of NASDAQ:PCAR traded up $0.45 during trading on Wednesday, reaching $107.05. 2,887,766 shares of the company's stock traded hands, compared to its average volume of 2,462,551. PACCAR Inc has a 12 month low of $68.40 and a 12 month high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. The company has a 50 day moving average of $116.18 and a 200-day moving average of $103.12. The stock has a market capitalization of $56.11 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating analysts' consensus estimates of $2.20 by $0.07. The company had revenue of $8.24 billion for the quarter, compared to analysts' expectations of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.25 earnings per share. On average, equities analysts expect that PACCAR Inc will post 8.26 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.30 per share. This is a positive change from PACCAR's previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Tuesday, May 14th. PACCAR's dividend payout ratio (DPR) is presently 11.20%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. UBS Group upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and raised their target price for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Bank of America upgraded PACCAR from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $84.00 to $97.00 in a research report on Friday, January 19th. Truist Financial restated a "hold" rating and issued a $121.00 price target (up previously from $117.00) on shares of PACCAR in a report on Thursday, May 2nd. Evercore ISI increased their price objective on shares of PACCAR from $94.00 to $101.00 and gave the stock an "in-line" rating in a report on Tuesday, February 20th. Finally, Royal Bank of Canada began coverage on PACCAR in a research note on Tuesday, March 26th. They issued a "sector perform" rating and a $123.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $112.62.

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.

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