Canada Post Corp Registered Pension Plan Invests $2.75 Million in PACCAR Inc (NASDAQ:PCAR)

Canada Post Corp Registered Pension Plan bought a new position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 26,430 shares of the company's stock, valued at approximately $2,749,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in PACCAR during the fourth quarter worth approximately $526,922,000. Wellington Management Group LLP raised its position in PACCAR by 25.0% in the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock valued at $1,747,408,000 after purchasing an additional 3,364,650 shares during the last quarter. Madison Investment Advisors LLC purchased a new position in PACCAR during the 4th quarter worth $254,651,000. JPMorgan Chase & Co. increased its stake in PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock valued at $346,878,000 after purchasing an additional 1,164,692 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of PACCAR by 5.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company's stock worth $1,119,997,000 after buying an additional 572,231 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Trading Up 1.6 %

Shares of PACCAR stock traded up $1.36 during mid-day trading on Friday, hitting $88.17. 2,444,557 shares of the stock were exchanged, compared to its average volume of 2,747,296. The company has a 50-day simple moving average of $99.09 and a 200 day simple moving average of $105.84. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $46.28 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. PACCAR Inc has a twelve month low of $85.10 and a twelve month high of $118.81.

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 net margin of 12.36% and a return on equity of 23.53%. Research analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.50%. This is an increase from PACCAR's previous quarterly dividend of $0.30. PACCAR's dividend payout ratio is currently 16.69%.

Analysts Set New Price Targets

Several equities analysts have issued reports on PCAR shares. Morgan Stanley cut shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price objective on the stock. in a research note on Wednesday. Evercore ISI lowered their price objective on PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Citigroup decreased their price target on PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Finally, Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $108.59.

Insider Buying and Selling

In other PACCAR 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 transaction of $636,780.00. Following the completion of the sale, the vice president now directly owns 951 shares in the company, valued at $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. 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 PACCAR stock in a transaction dated 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 transaction, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,547 shares of company stock valued at $18,261,908. Insiders own 2.02% of the company's stock.

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.