Madison Investment Advisors LLC Invests $254.65 Million in PACCAR Inc (NASDAQ:PCAR)

Madison Investment Advisors LLC acquired a new stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,448,096 shares of the company's stock, valued at approximately $254,651,000. PACCAR accounts for approximately 2.9% of Madison Investment Advisors LLC's holdings, making the stock its 3rd largest holding. Madison Investment Advisors LLC owned 0.47% of PACCAR as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its position in PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock valued at $335,334,000 after buying an additional 178,813 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of PACCAR during the 3rd quarter valued at $52,000. Sumitomo Mitsui Trust Group Inc. boosted its position in PACCAR by 1.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,304,807 shares of the company's stock worth $128,758,000 after purchasing an additional 20,155 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in PACCAR by 1.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 79,485 shares of the company's stock valued at $7,844,000 after purchasing an additional 1,249 shares in the last quarter. Finally, Peak Asset Management LLC raised its position in PACCAR by 0.9% in the third quarter. Peak Asset Management LLC now owns 138,976 shares of the company's stock valued at $13,714,000 after purchasing an additional 1,219 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PCAR. Evercore ISI decreased their target price on PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Truist Financial upped their price target on PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $132.00 to $121.00 and set an "overweight" rating on the stock in a research note on Tuesday. Jefferies Financial Group lowered shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a report on Friday, December 6th. Finally, Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $118.23.

Insider Activity

In related news, EVP Darrin C. Siver sold 103,671 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the transaction, the vice president now owns 951 shares of the company's stock, valued at $100,929.63. This trade represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 165,547 shares of company stock valued at $18,261,908. Company insiders own 2.02% of the company's stock.

PACCAR Stock Down 0.9 %

NASDAQ PCAR traded down $0.96 on Tuesday, hitting $100.21. 1,862,901 shares of the stock traded hands, compared to its average volume of 2,507,842. 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 stock has a 50-day moving average of $107.05 and a 200 day moving average of $106.47. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a market capitalization of $52.59 billion, a P/E ratio of 12.67, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a $3.00 dividend. This is an increase from PACCAR's previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR's dividend payout ratio (DPR) 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.