Massachusetts Financial Services Co. MA Boosts Position in PACCAR Inc (NASDAQ:PCAR)

Massachusetts Financial Services Co. MA grew its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 5.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,767,134 shares of the company's stock after purchasing an additional 572,231 shares during the period. Massachusetts Financial Services Co. MA owned approximately 2.05% of PACCAR worth $1,119,997,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PCAR. Principal Financial Group Inc. raised its position in PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock worth $335,334,000 after acquiring an additional 178,813 shares in the last quarter. Townsquare Capital LLC increased 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 valued at $1,099,000 after purchasing an additional 2,951 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in shares of PACCAR by 13.4% in the third quarter. Public Sector Pension Investment Board now owns 22,850 shares of the company's stock valued at $2,255,000 after purchasing an additional 2,700 shares during the period. Verition Fund Management LLC lifted its stake in shares of PACCAR by 41.2% in the third quarter. Verition Fund Management LLC now owns 28,960 shares of the company's stock valued at $2,858,000 after purchasing an additional 8,457 shares during the period. Finally, Hilltop Holdings Inc. boosted its holdings in PACCAR by 49.3% during the third quarter. Hilltop Holdings Inc. now owns 8,266 shares of the company's stock worth $816,000 after buying an additional 2,728 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Jefferies Financial Group cut shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a report on Friday, December 6th. UBS Group lowered PACCAR from a "buy" rating to a "neutral" rating and lowered their target price for the company from $124.00 to $108.00 in a report on Tuesday, March 18th. Bank of America raised PACCAR from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Evercore ISI lowered their price objective on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Finally, Truist Financial raised their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Eight equities research 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 data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $117.54.

PACCAR Trading Down 1.6 %

PCAR stock traded down $1.48 during midday trading 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 company's 50-day moving average price is $104.12 and its 200 day moving average price is $106.61. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The firm has a market cap of $47.71 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 12-month low of $81.60 and a 12-month high of $123.20.

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 the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, equities research analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were issued a $0.33 dividend. This is a boost from PACCAR's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a yield of 1.45%. PACCAR's payout ratio is 16.69%.

Insider Activity

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares of the company's stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of PACCAR 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 owns 951 shares in the company, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 in the last 90 days. 2.02% of the stock is currently owned by insiders.

PACCAR 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.