The Manufacturers Life Insurance Company Boosts Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

The Manufacturers Life Insurance Company increased its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 162.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 943,062 shares of the company's stock after purchasing an additional 583,441 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.18% of PACCAR worth $98,097,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Madrona Financial Services LLC boosted its holdings in shares of PACCAR by 1.1% in the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company's stock valued at $837,000 after buying an additional 91 shares in the last quarter. Global Financial Private Client LLC lifted its position in PACCAR by 1.0% during the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company's stock valued at $1,011,000 after acquiring an additional 97 shares during the last quarter. PDS Planning Inc grew its holdings in PACCAR by 3.7% in the fourth quarter. PDS Planning Inc now owns 2,810 shares of the company's stock worth $292,000 after purchasing an additional 101 shares during the last quarter. Valley National Advisers Inc. increased its position in shares of PACCAR by 0.6% during the fourth quarter. Valley National Advisers Inc. now owns 19,063 shares of the company's stock worth $1,982,000 after purchasing an additional 106 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of PACCAR by 14.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company's stock worth $88,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 64.90% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on PCAR shares. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Melius raised PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Morgan Stanley downgraded shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective on the stock. in a report on Wednesday, April 16th. Citigroup lowered their target price 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. Finally, JPMorgan Chase & Co. downgraded shares of PACCAR from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $105.00 to $90.00 in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, PACCAR currently has a consensus rating of "Hold" and a consensus price target of $107.23.

Insiders Place Their Bets

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

PACCAR Stock Performance

Shares of PCAR stock traded up $0.12 during trading hours on Friday, hitting $89.90. The company's stock had a trading volume of 3,729,160 shares, compared to its average volume of 2,758,745. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average of $95.97 and a 200 day moving average of $104.82. PACCAR Inc has a 12-month low of $84.65 and a 12-month high of $118.81. The stock has a market cap of $47.19 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96.

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

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, May 14th. PACCAR's payout ratio is presently 16.69%.

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.