Connor Clark & Lunn Investment Management Ltd. boosted its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 2,259.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,511 shares of the company's stock after acquiring an additional 57,946 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in PACCAR were worth $6,294,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Principal Financial Group Inc. grew its position in PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock worth $335,334,000 after buying an additional 178,813 shares during the period. KBC Group NV increased its stake in PACCAR by 50.4% during the 3rd quarter. KBC Group NV now owns 241,097 shares of the company's stock worth $23,792,000 after buying an additional 80,749 shares during the period. Metis Global Partners LLC increased its stake in PACCAR by 1.8% during the 3rd quarter. Metis Global Partners LLC now owns 16,751 shares of the company's stock worth $1,653,000 after buying an additional 300 shares during the period. CIBC Asset Management Inc increased its position in shares of PACCAR by 5.7% in the 3rd quarter. CIBC Asset Management Inc now owns 162,583 shares of the company's stock worth $16,044,000 after purchasing an additional 8,834 shares during the last quarter. Finally, Empirical Finance LLC grew its position in shares of PACCAR by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 17,996 shares of the company's stock valued at $1,776,000 after buying an additional 371 shares during the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. Citigroup decreased their target price on shares of PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Bank of America raised shares of PACCAR from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, Evercore ISI dropped their target price on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $118.23.
View Our Latest Stock Analysis on PACCAR
PACCAR Stock Down 0.6 %
PACCAR stock traded down $0.62 during mid-day trading on Wednesday, hitting $99.59. The company had a trading volume of 2,233,432 shares, compared to its average volume of 2,504,357. 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's 50 day moving average price is $106.86 and its two-hundred day moving average price is $106.50. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a market capitalization of $52.27 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.
PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, sell-side analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.
PACCAR Increases Dividend
The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a dividend of $3.00 per share. This is an increase from PACCAR's previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR's dividend payout ratio (DPR) is presently 16.69%.
Insider Buying and Selling at PACCAR
In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the transaction, the executive vice president now owns 61,005 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by corporate insiders.
About PACCAR
(
Free Report)
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.
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