PACCAR Inc (NASDAQ:PCAR) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. increased its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,200,694 shares of the company's stock after buying an additional 63,648 shares during the period. Alliancebernstein L.P. owned about 0.61% of PACCAR worth $332,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its holdings in PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after purchasing an additional 193 shares in the last quarter. Wellington Management Group LLP raised its position in shares of PACCAR by 25.0% during the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock worth $1,747,408,000 after purchasing an additional 3,364,650 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in PACCAR by 9.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 65,398 shares of the company's stock valued at $6,803,000 after buying an additional 5,766 shares in the last quarter. Brandywine Global Investment Management LLC boosted its holdings in PACCAR by 91.2% in the 4th quarter. Brandywine Global Investment Management LLC now owns 658,861 shares of the company's stock worth $68,535,000 after buying an additional 314,299 shares during the last quarter. Finally, RWA Wealth Partners LLC increased its stake in PACCAR by 133.7% during the 4th quarter. RWA Wealth Partners LLC now owns 5,665 shares of the company's stock worth $589,000 after buying an additional 3,241 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

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PACCAR Trading Down 1.5 %

Shares of PACCAR stock traded down $1.39 during mid-day trading on Friday, hitting $90.97. The stock had a trading volume of 4,420,547 shares, compared to its average volume of 2,665,525. The firm has a market cap of $47.75 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average of $104.12 and a two-hundred day moving average of $106.61. PACCAR Inc has a 12-month low of $89.74 and a 12-month high of $123.20.

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 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%. Sell-side analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.45%. This is an increase from PACCAR's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. PACCAR's dividend payout ratio (DPR) is presently 16.69%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PCAR shares. Truist Financial raised their target price on PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and raised their price objective for the company 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 dropped their target price for the stock from $124.00 to $108.00 in a report on Tuesday, March 18th. Evercore ISI decreased their price target on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Finally, Melius Research set a $120.00 price target on shares of PACCAR in a research report on Tuesday, March 18th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, PACCAR has an average rating of "Moderate Buy" and a consensus price target of $117.54.

Insider Activity at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R Preston Feight sold 25,200 shares of the company's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 165,547 shares of company stock worth $18,261,908. Company insiders own 2.02% of the company's stock.

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.