Magnetar Financial LLC Acquires Shares of 5,066 PACCAR Inc (NASDAQ:PCAR)

Magnetar Financial LLC bought a new position in PACCAR Inc (NASDAQ:PCAR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,066 shares of the company's stock, valued at approximately $527,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Madrona Financial Services LLC lifted its stake in shares of PACCAR by 1.1% in the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company's stock worth $837,000 after buying an additional 91 shares in the last quarter. Global Financial Private Client LLC raised its holdings in shares of PACCAR by 1.0% during the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company's stock valued at $1,011,000 after purchasing an additional 97 shares during the last quarter. PDS Planning Inc raised its stake in PACCAR by 3.7% during the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company's stock valued at $292,000 after buying an additional 101 shares during the last quarter. Insight Wealth Partners LLC lifted its holdings in shares of PACCAR by 1.4% during the 3rd quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company's stock valued at $760,000 after buying an additional 104 shares during the period. Finally, Valley National Advisers Inc. boosted its stake in shares of PACCAR by 0.6% in the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company's stock worth $1,982,000 after buying an additional 106 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

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PACCAR Price Performance

Shares of PACCAR stock traded up $0.60 during trading hours on Tuesday, hitting $99.24. The company's stock had a trading volume of 1,956,717 shares, compared to its average volume of 2,530,405. 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 12-month low of $90.04 and a 12-month high of $125.50. The business has a 50 day moving average price of $105.88 and a two-hundred day moving average price of $106.65. The company has a market cap of $52.09 billion, a PE ratio of 12.55, a PEG ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted 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 return on equity of 23.53% and a net margin of 12.36%. Analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.33%. 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 (DPR) is presently 16.69%.

Analyst Upgrades and Downgrades

PCAR has been the topic of a number of recent research reports. Jefferies Financial Group downgraded PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a report on Friday, December 6th. Citigroup dropped their price objective on shares of PACCAR from $125.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. Bank of America raised shares of PACCAR from a "neutral" rating to a "buy" rating and upped their target price for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Melius Research upgraded shares of PACCAR to a "strong-buy" rating in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. reduced their price objective on PACCAR from $132.00 to $121.00 and set an "overweight" rating for the company in a research note on Tuesday, March 18th. Eight research 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $118.23.

Insider Buying and Selling at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total value 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 approximately $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 can be accessed through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares of the company's stock, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 165,547 shares of company stock worth $18,261,908. Insiders own 2.02% of the company's stock.

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.