CANADA LIFE ASSURANCE Co Raises Stake in PACCAR Inc (NASDAQ:PCAR)

CANADA LIFE ASSURANCE Co raised its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 462,558 shares of the company's stock after acquiring an additional 37,489 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.09% of PACCAR worth $48,074,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Meeder Asset Management Inc. boosted its holdings in PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after acquiring an additional 193 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of PACCAR during the fourth quarter worth about $37,000. Kestra Investment Management LLC bought a new position in shares of PACCAR in the fourth quarter valued at approximately $37,000. OFI Invest Asset Management purchased a new position in PACCAR during the 4th quarter worth $43,000. Finally, Atala Financial Inc bought a new stake in PACCAR in the 4th quarter worth about $43,000. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Stock Performance

Shares of NASDAQ PCAR traded up $3.32 during midday trading on Thursday, reaching $92.40. The company had a trading volume of 1,146,804 shares, compared to its average volume of 2,746,392. The stock has a market cap of $48.50 billion, a P/E ratio of 11.69, 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 Inc has a 1 year low of $85.05 and a 1 year high of $118.81. The business's 50-day simple moving average is $98.11 and its 200 day simple moving average is $105.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly 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, analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Wednesday, February 12th. This is an increase from PACCAR's previous quarterly dividend of $0.30. PACCAR's dividend payout ratio is 16.69%.

Insiders Place Their Bets

In related news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the transaction, the chief financial officer now owns 114,659 shares of the company's stock, valued at approximately $12,150,414.23. This trade represents a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now directly 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 three months, insiders sold 165,547 shares of company stock worth $18,261,908. Corporate insiders own 2.02% of the company's stock.

Analyst Ratings Changes

PCAR has been the subject of several analyst reports. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. UBS Group cut shares of PACCAR from a "neutral" rating to a "sell" rating and reduced their price target for the company from $108.00 to $78.00 in a research report on Monday, April 7th. JPMorgan Chase & Co. dropped their price objective on PACCAR from $121.00 to $105.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Evercore ISI lowered their price target on PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Finally, Citigroup cut their target price 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 equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $108.59.

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.