LPL Financial LLC Has $22.09 Million Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

LPL Financial LLC lifted its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 212,405 shares of the company's stock after purchasing an additional 12,143 shares during the quarter. LPL Financial LLC's holdings in PACCAR were worth $22,094,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. lifted its stake 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 purchasing an additional 178,813 shares during the period. Townsquare Capital LLC raised its holdings in shares of PACCAR by 36.1% in the 3rd quarter. Townsquare Capital LLC now owns 11,133 shares of the company's stock worth $1,099,000 after buying an additional 2,951 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of PACCAR by 13.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 22,850 shares of the company's stock worth $2,255,000 after buying an additional 2,700 shares during the period. Verition Fund Management LLC boosted its stake in PACCAR by 41.2% in the 3rd quarter. Verition Fund Management LLC now owns 28,960 shares of the company's stock valued at $2,858,000 after buying an additional 8,457 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in PACCAR in the third quarter valued at $63,186,000. 64.90% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several research analysts have recently commented on PCAR shares. Citigroup reduced their target price on PACCAR from $112.00 to $105.00 and set a "neutral" rating on the stock in a report on Monday. UBS Group cut PACCAR from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $124.00 to $108.00 in a report on Tuesday, March 18th. 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. 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 report on Wednesday, January 29th. Finally, Melius Research set a $120.00 price objective on PACCAR in a research report on Tuesday, March 18th. 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $117.54.

PACCAR Trading Up 0.9 %

Shares of NASDAQ:PCAR traded up $0.92 during mid-day trading on Tuesday, reaching $98.29. The stock had a trading volume of 2,193,917 shares, compared to its average volume of 2,656,908. The firm has a market cap of $51.60 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The firm has a 50 day simple moving average of $104.93 and a two-hundred day simple moving average of $106.74. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $123.20.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced 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 return on equity of 23.53% and a net margin of 12.36%. On average, research analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal 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 paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.34%. This is a boost from PACCAR's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. PACCAR's payout ratio is presently 16.69%.

Insiders Place Their Bets

In other news, CFO Harrie Schippers sold 28,676 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the transaction, the chief financial officer now owns 114,659 shares in the company, valued at $12,150,414.23. This 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 the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares of the company's stock, valued at $6,805,717.80. This represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 over the last ninety days. 2.02% of the stock is currently owned by corporate 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.