Allianz SE Acquires New Holdings in PACCAR Inc (NASDAQ:PCAR)

Allianz SE acquired a new position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 25,741 shares of the company's stock, valued at approximately $2,667,000.

Several other institutional investors have also added to or reduced their stakes in PCAR. Allstate Corp bought a new position in PACCAR in the fourth quarter valued at approximately $1,605,000. Brown Brothers Harriman & Co. raised its stake in PACCAR by 12.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 5,364 shares of the company's stock valued at $558,000 after buying an additional 602 shares during the period. DnB Asset Management AS raised its stake in PACCAR by 11.8% in the fourth quarter. DnB Asset Management AS now owns 213,225 shares of the company's stock valued at $22,180,000 after buying an additional 22,506 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of PACCAR by 125.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 397,236 shares of the company's stock valued at $41,320,000 after buying an additional 221,410 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in shares of PACCAR during the 4th quarter worth approximately $4,508,000. 64.90% of the stock is owned by institutional investors.

PACCAR Price Performance

PACCAR stock traded up $0.92 during mid-day trading on Tuesday, reaching $98.29. 2,193,917 shares of the company were exchanged, compared to its average volume of 2,651,727. The firm has a market cap of $51.60 billion, a PE ratio of 12.43, a PEG ratio of 2.77 and a beta of 0.91. 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 company has a fifty day simple moving average of $104.93 and a 200-day simple moving average of $106.74. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $124.39.

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

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were issued a $0.33 dividend. This is a positive change from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.34%. The ex-dividend date was Wednesday, February 12th. PACCAR's dividend payout ratio (DPR) is currently 16.69%.

Analyst Ratings Changes

PCAR has been the topic of a number of research analyst reports. Citigroup dropped their price target on PACCAR from $112.00 to $105.00 and set a "neutral" rating on the stock in a research note on Monday. Truist Financial raised their target price on shares of PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Jefferies Financial Group cut shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a report on Friday, December 6th. Finally, Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $117.54.

Insider Activity

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the business's stock in a transaction that occurred 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 directly owns 114,659 shares in the company, valued at $12,150,414.23. The trade was a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Darrin C. Siver sold 103,671 shares of the company's stock in a transaction 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 owns 61,005 shares of the company's stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by corporate insiders.

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.