PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Headlands Technologies LLC

Headlands Technologies LLC boosted its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 96.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,189 shares of the company's stock after purchasing an additional 4,025 shares during the quarter. Headlands Technologies LLC's holdings in PACCAR were worth $852,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings 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 acquiring an additional 3,364,650 shares during the last quarter. Geode Capital Management LLC grew its position in shares of PACCAR by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock valued at $1,275,269,000 after purchasing an additional 362,637 shares during the period. Norges Bank purchased a new stake in shares of PACCAR in the fourth quarter valued at $526,922,000. JPMorgan Chase & Co. increased its stake in PACCAR by 12.1% in the fourth quarter. JPMorgan Chase & Co. now owns 3,941,495 shares of the company's stock valued at $409,994,000 after purchasing an additional 426,311 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in PACCAR by 1.8% during the fourth quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company's stock worth $364,690,000 after buying an additional 61,457 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

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PACCAR Stock Down 1.6 %

Shares of PACCAR stock traded down $1.48 during trading on Friday, reaching $90.88. The company had a trading volume of 6,326,890 shares, compared to its average volume of 2,674,904. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a fifty-two week low of $81.60 and a fifty-two week high of $123.20. The firm's fifty day moving average is $103.74 and its 200-day moving average is $106.57. The company 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 (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 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, analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.45%. This is a boost 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%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Jefferies Financial Group cut PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a report on Friday, December 6th. Evercore ISI lowered their target price on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Citigroup dropped their price target on shares of PACCAR from $112.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday. Melius Research set a $120.00 price target on shares of PACCAR in a report on Tuesday, March 18th. Finally, Truist Financial boosted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PACCAR currently has an average rating of "Moderate Buy" and a consensus price target of $117.54.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the 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 sale, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. This represents a 26.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the transaction, the vice president now owns 951 shares of the company's stock, valued at approximately $100,929.63. The trade was a 86.32 % 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 worth $18,261,908. 2.02% of the stock is currently owned by insiders.

PACCAR Company 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.