Advisors Asset Management Inc. Acquires 9,641 Shares of PACCAR Inc (NASDAQ:PCAR)

Advisors Asset Management Inc. lifted its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 18.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,628 shares of the company's stock after buying an additional 9,641 shares during the quarter. Advisors Asset Management Inc.'s holdings in PACCAR were worth $6,411,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in PACCAR in the 4th quarter worth approximately $37,000. Kestra Investment Management LLC purchased a new stake in shares of PACCAR in the fourth quarter worth $37,000. OFI Invest Asset Management bought a new stake in PACCAR during the fourth quarter valued at $43,000. Atala Financial Inc purchased a new position in PACCAR during the fourth quarter worth about $43,000. Finally, Regents Gate Capital LLP bought a new position in PACCAR in the 4th quarter worth about $44,000. 64.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PCAR has been the subject of several recent analyst reports. Bank of America raised 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. UBS Group lowered shares of PACCAR from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $124.00 to $108.00 in a report on Tuesday, March 18th. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Truist Financial increased their target price on PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Finally, Citigroup dropped their price target on PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $118.23.

Remove Ads

Insider Transactions at PACCAR

In related news, VP Michael K. Walton sold 6,000 shares of the 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 directly owns 951 shares in the company, valued at $100,929.63. This trade represents a 86.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction that occurred on 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 transaction, 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 valued at $18,261,908. Company insiders own 2.02% of the company's stock.

PACCAR Trading Down 1.2 %

Shares of NASDAQ PCAR traded down $1.21 during trading hours on Friday, hitting $97.11. The company's stock had a trading volume of 8,554,751 shares, compared to its average volume of 2,530,736. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a market cap of $50.96 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The business has a 50-day simple moving average of $106.29 and a 200-day simple moving average of $106.48.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. On average, analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were issued a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. 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 1.36%. PACCAR's dividend payout ratio is 16.69%.

PACCAR Company 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.