PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund increased its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 115.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,074,653 shares of the company's stock after acquiring an additional 576,532 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.20% of PACCAR worth $106,047,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PCAR. Quadrature Capital Ltd purchased a new stake in shares of PACCAR during the first quarter worth approximately $534,000. Janus Henderson Group PLC raised its position in shares of PACCAR by 0.4% in the first quarter. Janus Henderson Group PLC now owns 68,188 shares of the company's stock valued at $8,445,000 after buying an additional 301 shares during the last quarter. Tidal Investments LLC raised its position in shares of PACCAR by 19.5% in the first quarter. Tidal Investments LLC now owns 21,616 shares of the company's stock valued at $2,678,000 after buying an additional 3,526 shares during the last quarter. Comerica Bank lifted its stake in shares of PACCAR by 8.7% in the first quarter. Comerica Bank now owns 162,864 shares of the company's stock worth $20,177,000 after buying an additional 13,075 shares in the last quarter. Finally, WealthPlan Investment Management LLC acquired a new position in PACCAR during the first quarter worth about $216,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PCAR has been the topic of a number of research reports. Truist Financial raised their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a "hold" rating in a research note on Wednesday, October 23rd. Citigroup lifted their price objective on PACCAR from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 20th. Morgan Stanley dropped their target price on PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. BNP Paribas raised PACCAR to a "hold" rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $117.64.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the company's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 13.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Harrie Schippers sold 20,000 shares of the business's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the transaction, the chief financial officer now directly owns 105,558 shares of the company's stock, valued at approximately $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,315 shares of company stock worth $6,358,552. Corporate insiders own 2.02% of the company's stock.

PACCAR Trading Up 0.3 %

NASDAQ PCAR traded up $0.36 on Wednesday, reaching $116.18. The stock had a trading volume of 1,685,361 shares, compared to its average volume of 2,612,256. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average price of $106.55 and a two-hundred day moving average price of $103.09. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50. The firm has a market capitalization of $60.91 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 1.83 and a beta of 0.89.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The company's quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.34 EPS. As a group, sell-side analysts forecast that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR's payout ratio is 13.41%.

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.