BNP Paribas Asset Management Holding S.A. Boosts Stake in PACCAR Inc (NASDAQ:PCAR)

BNP Paribas Asset Management Holding S.A. grew its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 570,455 shares of the company's stock after buying an additional 11,546 shares during the period. BNP Paribas Asset Management Holding S.A. owned about 0.11% of PACCAR worth $55,705,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PCAR. Massachusetts Financial Services Co. MA lifted its stake in PACCAR by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company's stock worth $730,116,000 after purchasing an additional 23,865 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of PACCAR by 6.0% in the 3rd quarter. Northern Trust Corp now owns 5,540,803 shares of the company's stock valued at $471,079,000 after buying an additional 316,001 shares during the period. Fisher Asset Management LLC raised its stake in PACCAR by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company's stock worth $480,104,000 after acquiring an additional 89,984 shares during the period. Norges Bank bought a new position in PACCAR in the fourth quarter worth about $448,288,000. Finally, Invesco Ltd. boosted its stake in PACCAR by 9.9% in the third quarter. Invesco Ltd. now owns 3,645,267 shares of the company's stock valued at $309,921,000 after acquiring an additional 328,347 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 33,850 shares of the firm's stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the transaction, the chief executive officer now 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 this hyperlink. In other news, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the transaction, the chief executive officer now owns 154,430 shares of the company's stock, valued at $16,397,377.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Brice J. Poplawski sold 2,067 shares of PACCAR stock in a transaction that occurred on 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 quarter, insiders have sold 45,040 shares of company stock valued at $4,779,241. 2.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of analyst reports. Royal Bank of Canada initiated coverage on shares of PACCAR in a research note on Tuesday, March 26th. They set a "sector perform" rating and a $123.00 target price for the company. The Goldman Sachs Group raised their target price on shares of PACCAR from $106.00 to $121.00 and gave the company a "neutral" rating in a research note on Tuesday, April 16th. TD Cowen raised their target price on shares of PACCAR from $91.00 to $108.00 and gave the company a "market perform" rating in a research note on Wednesday, January 24th. UBS Group upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and raised their price objective for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Finally, Truist Financial restated a "hold" rating and set a $121.00 price objective (up previously from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, PACCAR has an average rating of "Moderate Buy" and an average price target of $112.62.

PACCAR Stock Down 0.5 %

Shares of PCAR stock traded down $0.58 during trading on Monday, hitting $105.42. 1,889,848 shares of the company were exchanged, compared to its average volume of 2,423,212. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The firm has a market capitalization of $55.26 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 1.64 and a beta of 0.96. The business's 50-day simple moving average is $115.09 and its 200 day simple moving average is $104.63. PACCAR Inc has a twelve month low of $68.40 and a twelve month high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.20 by $0.07. The business had revenue of $8.24 billion during 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 firm's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $2.25 earnings per share. As a group, analysts forecast that PACCAR Inc will post 8.26 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.14%. The ex-dividend date is Tuesday, May 14th. This is a positive change from PACCAR's previous quarterly dividend of $0.27. PACCAR's dividend payout ratio (DPR) is presently 12.45%.

About PACCAR

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.