Bank of Montreal Can Buys 55,962 Shares of PACCAR Inc (NASDAQ:PCAR)

Bank of Montreal Can raised its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 622,795 shares of the company's stock after purchasing an additional 55,962 shares during the quarter. Bank of Montreal Can owned approximately 0.12% of PACCAR worth $64,783,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in PACCAR in the fourth quarter valued at approximately $526,922,000. Wellington Management Group LLP raised its holdings in PACCAR by 25.0% during the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock valued at $1,747,408,000 after buying an additional 3,364,650 shares in the last quarter. Madison Investment Advisors LLC bought a new stake in shares of PACCAR during the 4th quarter worth about $254,651,000. JPMorgan Chase & Co. lifted its holdings in PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock worth $346,878,000 after purchasing an additional 1,164,692 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in PACCAR by 5.6% during the fourth 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 last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now directly owns 951 shares of the company's stock, valued at $100,929.63. This represents a 86.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the sale, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % 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 in the last three months. Insiders own 2.02% of the company's stock.

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PACCAR Price Performance

PCAR traded down $0.49 during trading on Tuesday, hitting $89.06. The company's stock had a trading volume of 750,440 shares, compared to its average volume of 2,736,916. 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 stock has a market capitalization of $46.75 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The firm's 50 day moving average price is $100.57 and its two-hundred day moving average price is $106.15. PACCAR Inc has a 12 month low of $85.10 and a 12 month high of $121.75.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Sell-side analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal 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 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 1.48%. The ex-dividend date was Wednesday, February 12th. PACCAR's dividend payout ratio is currently 16.69%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PCAR shares. JPMorgan Chase & Co. dropped 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. Truist Financial dropped their price objective on PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. UBS Group downgraded PACCAR from a "neutral" rating to a "sell" rating and decreased their target price for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Citigroup dropped their price target on PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Melius Research set a $120.00 price objective on PACCAR in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, seven have given 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 company presently has an average rating of "Moderate Buy" and an average target price of $112.13.

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.