OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Makes New $2.60 Million Investment in PACCAR Inc (NASDAQ:PCAR)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,000 shares of the company's stock, valued at approximately $2,600,000.

Several other hedge funds also recently modified their holdings of the stock. Cullen Frost Bankers Inc. increased its holdings in shares of PACCAR by 8.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock valued at $8,916,000 after purchasing an additional 6,494 shares during the last quarter. LPL Financial LLC grew its stake in PACCAR by 6.1% in the 4th quarter. LPL Financial LLC now owns 212,405 shares of the company's stock valued at $22,094,000 after buying an additional 12,143 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in PACCAR by 508.2% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 89,865 shares of the company's stock valued at $9,348,000 after acquiring an additional 75,090 shares during the period. American Century Companies Inc. increased its stake in shares of PACCAR by 15.8% during the fourth quarter. American Century Companies Inc. now owns 631,369 shares of the company's stock worth $65,675,000 after purchasing an additional 86,215 shares during the period. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of PACCAR during the fourth quarter worth $1,096,000. Institutional investors own 64.90% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PCAR. Royal Bank of Canada reduced their target price on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a report on Thursday, May 8th. Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Evercore ISI dropped their target price on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Melius Research set a $120.00 price objective on shares of PACCAR in a research note on Tuesday, March 18th. Finally, Truist Financial cut their target price on PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $105.23.

PACCAR Stock Performance

NASDAQ:PCAR traded up $0.74 during trading on Friday, reaching $96.71. The company's stock had a trading volume of 2,436,378 shares, compared to its average volume of 2,776,311. PACCAR Inc has a 12 month low of $84.65 and a 12 month high of $118.81. The firm has a market cap of $50.77 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The firm has a 50 day moving average of $93.50 and a 200-day moving average of $103.93. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The company had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. During the same quarter in the previous year, the business earned $2.27 EPS. The company's revenue for the quarter was down 16.0% on a year-over-year basis. Research analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.36%. The ex-dividend date is Wednesday, May 14th. PACCAR's dividend payout ratio (DPR) is presently 20.00%.

Insider Activity

In other news, Director Pierre R. Breber purchased 5,000 shares of PACCAR stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the transaction, the director now directly owns 13,015 shares of the company's stock, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the sale, the chief financial officer now owns 114,659 shares in the company, valued at $12,150,414.23. This trade represents a 20.01% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

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.