APG Asset Management N.V. Buys 234,415 Shares of PACCAR Inc (NASDAQ:PCAR)

APG Asset Management N.V. raised its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 216.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 342,500 shares of the company's stock after purchasing an additional 234,415 shares during the quarter. APG Asset Management N.V. owned approximately 0.07% of PACCAR worth $34,405,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in shares of PACCAR by 25.0% during the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock worth $1,747,408,000 after acquiring an additional 3,364,650 shares during the period. Geode Capital Management LLC boosted its stake in PACCAR by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock valued at $1,275,269,000 after purchasing an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in PACCAR by 5.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company's stock valued at $1,119,997,000 after purchasing an additional 572,231 shares during the period. FMR LLC grew its holdings in PACCAR by 1.9% in the 4th quarter. FMR LLC now owns 8,791,660 shares of the company's stock valued at $914,509,000 after buying an additional 167,165 shares in the last quarter. Finally, Norges Bank bought a new position in PACCAR during the 4th quarter worth $526,922,000. Institutional investors and hedge funds own 64.90% of the company's stock.

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PACCAR Price Performance

PCAR traded down $0.64 during trading on Monday, reaching $89.83. The stock had a trading volume of 739,949 shares, compared to its average volume of 2,733,339. The business has a 50-day moving average of $100.92 and a 200-day moving average of $106.21. PACCAR Inc has a one year low of $85.10 and a one year high of $121.75. 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 stock has a market cap of $47.15 billion, a PE ratio of 11.36, a PEG ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, equities research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from PACCAR's previous quarterly dividend of $0.30. PACCAR's dividend payout ratio is currently 16.69%.

Insider Activity at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the firm's 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 $6,805,717.80. This trade represents a 62.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO R Preston Feight sold 25,200 shares of the firm'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 completion of the transaction, the chief executive officer now owns 206,129 shares in the company, valued at approximately $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. Insiders have sold 165,547 shares of company stock worth $18,261,908 over the last 90 days. 2.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PCAR. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and raised their price target for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $121.00 to $105.00 and set an "overweight" rating on the stock in a report on Friday. Evercore ISI cut their price target on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Citigroup decreased their price objective 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. Finally, Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $112.13.

About PACCAR

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.