PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. raised its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 42.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 489,898 shares of the company's stock after acquiring an additional 145,800 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.09% of PACCAR worth $50,959,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PCAR. Madrona Financial Services LLC grew its stake in shares of PACCAR by 1.1% during the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company's stock worth $837,000 after purchasing an additional 91 shares during the period. Global Financial Private Client LLC increased its holdings in PACCAR by 1.0% in the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company's stock valued at $1,011,000 after buying an additional 97 shares in the last quarter. PDS Planning Inc raised its position in shares of 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 acquiring an additional 101 shares during the period. Valley National Advisers Inc. boosted its stake in shares of PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company's stock worth $1,982,000 after acquiring an additional 106 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of PACCAR by 14.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company's stock valued at $88,000 after acquiring an additional 107 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the sale, the executive vice president now owns 61,005 shares of the company's stock, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Harrie Schippers sold 28,676 shares of the company's stock in a transaction that occurred on 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. In the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PCAR. Morgan Stanley cut PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective for the company. in a research report on Wednesday, April 16th. Evercore ISI reduced their price objective 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 target price on shares of PACCAR in a research report on Tuesday, March 18th. Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Finally, Citigroup decreased their price target on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $108.59.

PACCAR Trading Down 0.9 %

PCAR stock traded down $0.79 during midday trading on Friday, hitting $91.89. 2,869,209 shares of the company's stock were exchanged, compared to its average volume of 2,750,562. PACCAR Inc has a 1-year low of $85.05 and a 1-year high of $118.81. The business has a 50-day simple moving average of $97.55 and a two-hundred day simple moving average of $105.37. The stock has a market capitalization of $48.24 billion, a PE ratio of 11.62, a P/E/G ratio of 2.77 and a beta of 0.96. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

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

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. This is a positive change from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR's dividend payout ratio (DPR) is currently 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.