Price T Rowe Associates Inc. MD Has $82.38 Million Stake in PACCAR Inc (NASDAQ:PCAR)

Price T Rowe Associates Inc. MD increased its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 1.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 791,944 shares of the company's stock after buying an additional 8,757 shares during the period. Price T Rowe Associates Inc. MD owned 0.15% of PACCAR worth $82,379,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PCAR. Principal Financial Group Inc. grew its position in shares of PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock valued at $335,334,000 after purchasing an additional 178,813 shares during the last quarter. Morse Asset Management Inc acquired a new position in PACCAR in the 3rd quarter valued at $370,000. McIlrath & Eck LLC increased its position in PACCAR by 16.0% during the 3rd quarter. McIlrath & Eck LLC now owns 28,064 shares of the company's stock worth $2,769,000 after buying an additional 3,878 shares during the period. World Investment Advisors LLC acquired a new stake in shares of PACCAR during the third quarter worth $419,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of PACCAR during the third quarter worth $269,000. Institutional investors and hedge funds own 64.90% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PCAR. Citigroup dropped their price objective on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. downgraded shares of PACCAR from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $105.00 to $90.00 in a research report on Wednesday. Truist Financial reduced their price target on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Evercore ISI dropped their price objective on PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Finally, UBS Group lowered PACCAR from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $108.00 to $78.00 in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $107.23.

PACCAR Price Performance

PCAR stock traded down $0.43 during midday trading on Thursday, reaching $89.78. 2,940,064 shares of the stock were exchanged, compared to its average volume of 2,761,244. PACCAR Inc has a 52 week low of $84.65 and a 52 week high of $118.81. The company has a fifty day moving average price of $96.64 and a 200 day moving average price of $105.06. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The stock has a market capitalization of $47.13 billion, a PE ratio of 11.35, a P/E/G ratio of 2.77 and a beta of 0.96.

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

PACCAR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.47%. The ex-dividend date is Wednesday, May 14th. PACCAR's dividend payout ratio is currently 16.69%.

Insiders Place Their Bets

In other news, VP Michael K. Walton sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the sale, the vice president now directly owns 951 shares in the company, valued at $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Harrie Schippers sold 28,676 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the transaction, the chief financial officer now owns 114,659 shares in the company, valued at approximately $12,150,414.23. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently 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.