61,880 Shares in PACCAR Inc (NASDAQ:PCAR) Bought by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR bought a new stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 61,880 shares of the company's stock, valued at approximately $6,437,000.

Several other hedge funds also recently modified their holdings of PCAR. Everence Capital Management Inc. purchased a new stake in PACCAR in the 4th quarter valued at about $1,984,000. Cullen Frost Bankers Inc. increased its position in shares of PACCAR by 8.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock valued at $8,916,000 after acquiring an additional 6,494 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company's stock worth $2,962,000 after acquiring an additional 5,871 shares during the period. Insight Wealth Strategies LLC boosted its position in PACCAR by 21.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company's stock worth $4,061,000 after purchasing an additional 6,936 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock valued at $511,254,000 after purchasing an additional 89,245 shares during the period. Hedge funds and other institutional investors own 64.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Jefferies Financial Group cut PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a research note on Friday, December 6th. UBS Group cut shares of PACCAR from a "buy" rating to a "neutral" rating and dropped their target price for the company from $124.00 to $108.00 in a research note on Tuesday, March 18th. Melius Research upgraded shares of PACCAR to a "strong-buy" rating in a research note on Tuesday, March 18th. Truist Financial upped their price objective on PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Finally, Citigroup decreased their target price on PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.23.

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PACCAR Price Performance

Shares of PCAR stock traded down $1.21 during trading hours on Friday, reaching $97.11. The stock had a trading volume of 8,554,751 shares, compared to its average volume of 2,530,736. The stock's fifty day simple moving average is $106.29 and its 200 day simple moving average is $106.48. 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 firm has a market capitalization of $50.96 billion, a PE ratio of 12.28, a PEG ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50.

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 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%. On average, equities research analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were issued a $0.33 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. This is a boost from PACCAR's previous quarterly dividend of $0.30. PACCAR's dividend payout ratio (DPR) is presently 16.69%.

Insider Activity

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction 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 transaction, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by insiders.

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.