ING Groep NV Purchases 112,083 Shares of PACCAR Inc (NASDAQ:PCAR)

ING Groep NV boosted its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 86.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 241,233 shares of the company's stock after acquiring an additional 112,083 shares during the period. ING Groep NV's holdings in PACCAR were worth $23,556,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PCAR. Lord Abbett & CO. LLC bought a new position in shares of PACCAR in the third quarter worth $33,668,000. International Assets Investment Management LLC increased its stake in PACCAR by 8,388.6% in the 4th quarter. International Assets Investment Management LLC now owns 376,132 shares of the company's stock worth $36,729,000 after acquiring an additional 371,701 shares during the last quarter. Clarius Group LLC raised its holdings in shares of PACCAR by 52.7% in the 4th quarter. Clarius Group LLC now owns 1,012,755 shares of the company's stock valued at $98,896,000 after acquiring an additional 349,727 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of PACCAR by 40.1% during the fourth quarter. Panagora Asset Management Inc. now owns 1,196,277 shares of the company's stock worth $116,816,000 after purchasing an additional 342,212 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of PACCAR by 9.9% during the third quarter. Invesco Ltd. now owns 3,645,267 shares of the company's stock worth $309,921,000 after purchasing an additional 328,347 shares in the last quarter. Institutional investors own 64.90% of the company's stock.

PACCAR Stock Up 0.1 %

Shares of NASDAQ:PCAR traded up $0.07 during midday trading on Friday, reaching $106.00. The company's stock had a trading volume of 1,727,088 shares, compared to its average volume of 3,019,294. The company has a quick ratio of 2.49, a current ratio of 2.73 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $115.26 and a 200-day moving average of $104.33. The firm has a market capitalization of $55.56 billion, a P/E ratio of 11.00, a PEG ratio of 1.64 and a beta of 0.96. PACCAR Inc has a 12-month low of $68.40 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced 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. The business had revenue of $8.24 billion for the quarter, compared to analysts' expectations of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The business's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.25 earnings per share. On average, research analysts anticipate that PACCAR Inc will post 8.26 earnings per share 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. The ex-dividend date is Tuesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. This is a positive change from PACCAR's previous quarterly dividend of $0.27. PACCAR's payout ratio is presently 12.45%.

Analysts Set New Price Targets

PCAR has been the topic of a number of recent analyst reports. Royal Bank of Canada began coverage on shares of PACCAR in a research note on Tuesday, March 26th. They issued a "sector perform" rating and a $123.00 target price on the stock. TD Cowen increased their target price on PACCAR from $91.00 to $108.00 and gave the company a "market perform" rating in a research note on Wednesday, January 24th. Bank of America upgraded PACCAR from an "underperform" rating to a "neutral" rating and raised their price target for the company from $84.00 to $97.00 in a research report on Friday, January 19th. UBS Group upgraded PACCAR from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Finally, The Goldman Sachs Group increased their price objective on PACCAR from $106.00 to $121.00 and gave the company a "neutral" rating in a research report on Tuesday, April 16th. Seven 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.62.

Insider Buying and Selling at PACCAR

In other news, VP Michael K. Walton sold 9,123 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the sale, the vice president now directly owns 1,468 shares of the company's stock, valued at $154,301.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Michael K. Walton sold 9,123 shares of the business's stock in a transaction on 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 in the company, valued at $154,301.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,040 shares of company stock valued at $4,779,241. Insiders own 2.02% of the company's stock.

PACCAR 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.