Geode Capital Management LLC Increases Holdings in PACCAR Inc (NASDAQ:PCAR)

Geode Capital Management LLC boosted its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,242,288 shares of the company's stock after purchasing an additional 362,637 shares during the quarter. Geode Capital Management LLC owned about 2.33% of PACCAR worth $1,275,269,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PCAR. Principal Financial Group Inc. grew its stake in shares of PACCAR by 5.6% in the 3rd 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 last quarter. Townsquare Capital LLC grew its stake in shares of PACCAR by 36.1% in the third quarter. Townsquare Capital LLC now owns 11,133 shares of the company's stock worth $1,099,000 after acquiring an additional 2,951 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of PACCAR by 13.4% during the third quarter. Public Sector Pension Investment Board now owns 22,850 shares of the company's stock valued at $2,255,000 after acquiring an additional 2,700 shares in the last quarter. Verition Fund Management LLC raised its position in shares of PACCAR by 41.2% in the 3rd quarter. Verition Fund Management LLC now owns 28,960 shares of the company's stock worth $2,858,000 after purchasing an additional 8,457 shares during the last quarter. Finally, Hilltop Holdings Inc. raised its position in shares of PACCAR by 49.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 8,266 shares of the company's stock worth $816,000 after purchasing an additional 2,728 shares during the last quarter. Institutional investors own 64.90% of the company's stock.

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Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and raised their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Citigroup lowered their price objective on PACCAR from $112.00 to $105.00 and set a "neutral" rating on the stock in a research report on Monday. JPMorgan Chase & Co. reduced their target price on PACCAR from $132.00 to $121.00 and set an "overweight" rating for the company in a report on Tuesday, March 18th. Finally, Melius Research set a $120.00 price target on PACCAR in a report on Tuesday, March 18th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PACCAR presently has an average rating of "Moderate Buy" and a consensus target price of $117.54.

Insider Buying and Selling

In other news, CFO Harrie Schippers sold 28,676 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares of the company's stock, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now owns 5,463 shares of the company's stock, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by company insiders.

PACCAR Stock Performance

NASDAQ:PCAR traded down $1.48 on Friday, hitting $90.88. The stock had a trading volume of 6,326,890 shares, compared to its average volume of 2,671,814. The business's 50-day simple moving average is $104.12 and its two-hundred day simple moving average is $106.61. The stock has a market cap of $47.71 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 52-week low of $81.60 and a 52-week high of $123.20. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (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, research analysts predict that PACCAR Inc will post 7.57 earnings per share 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 $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.45%. This is a positive change from PACCAR's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR's dividend payout ratio is 16.69%.

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.