Locust Wood Capital Advisers LLC acquired a new position in PACCAR Inc (NASDAQ:PCAR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,950 shares of the company's stock, valued at approximately $1,558,000.
A number of other hedge funds have also bought and sold shares of PCAR. Lord Abbett & CO. LLC purchased a new stake in PACCAR in the 3rd quarter worth approximately $33,668,000. International Assets Investment Management LLC raised its position in shares of PACCAR by 8,388.6% in the fourth quarter. International Assets Investment Management LLC now owns 376,132 shares of the company's stock worth $36,729,000 after buying an additional 371,701 shares in the last quarter. Clarius Group LLC raised its position in shares of PACCAR by 52.7% in the fourth quarter. Clarius Group LLC now owns 1,012,755 shares of the company's stock worth $98,896,000 after buying an additional 349,727 shares in the last quarter. Invesco Ltd. boosted its stake in PACCAR by 9.9% during the third quarter. Invesco Ltd. now owns 3,645,267 shares of the company's stock valued at $309,921,000 after buying an additional 328,347 shares during the period. Finally, Northern Trust Corp grew its position in 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. 64.90% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Truist Financial reissued a "hold" rating and issued a $121.00 price target (up previously from $117.00) on shares of PACCAR in a research note on Thursday, May 2nd. TD Cowen raised their price target on PACCAR from $91.00 to $108.00 and gave the company a "market perform" rating in a research report on Wednesday, January 24th. Royal Bank of Canada began coverage on PACCAR in a report on Tuesday, March 26th. They issued a "sector perform" rating and a $123.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on PACCAR from $140.00 to $130.00 and set an "overweight" rating on the stock in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group upped their target price on PACCAR from $106.00 to $121.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 16th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, PACCAR currently has an average rating of "Moderate Buy" and a consensus target price of $112.62.
View Our Latest Analysis on PACCAR
Insider Activity at PACCAR
In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the transaction, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO R Preston Feight sold 33,850 shares of the company's stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the sale, the chief executive officer now directly owns 154,430 shares of the company's stock, valued at $16,397,377.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the firm's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the transaction, the vice president now directly owns 5,726 shares of the company's stock, valued at approximately $607,814.90. The disclosure for this sale can be found here. Insiders have sold a total of 79,837 shares of company stock worth $8,470,647 over the last quarter. Corporate insiders own 2.02% of the company's stock.
PACCAR Trading Up 0.2 %
PACCAR stock traded up $0.26 during trading hours on Friday, reaching $109.18. The stock had a trading volume of 1,810,828 shares, compared to its average volume of 2,986,409. The stock has a market cap of $57.23 billion, a PE ratio of 11.33, a PEG ratio of 1.64 and a beta of 0.96. The company has a fifty day simple moving average of $116.06 and a 200-day simple moving average of $103.19. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. PACCAR Inc has a 52 week low of $68.40 and a 52 week high of $125.50.
PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same quarter in the previous year, the business earned $2.25 EPS. PACCAR's revenue was up 2.3% compared to the same quarter last year. Analysts forecast that PACCAR Inc will post 8.24 EPS for the current fiscal year.
PACCAR Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be paid a $0.30 dividend. This is a positive change from PACCAR's previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.10%. PACCAR's dividend payout ratio (DPR) is presently 11.20%.
PACCAR Company Profile
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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.
Further Reading
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