NEOS Investment Management LLC Increases Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

NEOS Investment Management LLC increased its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 25.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 68,343 shares of the company's stock after acquiring an additional 13,742 shares during the period. NEOS Investment Management LLC's holdings in PACCAR were worth $7,109,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of PACCAR by 53.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company's stock worth $1,325,678,000 after acquiring an additional 4,669,172 shares during the last quarter. Madison Investment Advisors LLC acquired a new position in PACCAR during the fourth quarter worth $254,651,000. JPMorgan Chase & Co. boosted its position in shares of PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock worth $346,878,000 after buying an additional 1,164,692 shares during the period. Erste Asset Management GmbH acquired a new stake in shares of PACCAR in the third quarter valued at $63,186,000. Finally, KBC Group NV raised its holdings in shares of PACCAR by 185.7% in the 4th quarter. KBC Group NV now owns 688,808 shares of the company's stock valued at $71,649,000 after buying an additional 447,711 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

Insider Activity at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction 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 completion of the transaction, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. 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 three months. 2.02% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PCAR shares. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Truist Financial increased their target price on shares of PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Jefferies Financial Group cut PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a research note on Friday, December 6th. Finally, Melius Research set a $120.00 target price on PACCAR in a research note 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $117.54.

PACCAR Stock Up 1.0 %

PCAR stock traded up $1.02 during midday trading on Tuesday, reaching $98.39. 611,966 shares of the company were exchanged, compared to its average volume of 2,645,770. The company has a market cap of $51.65 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. 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 1-year low of $90.04 and a 1-year high of $124.39. The stock's 50-day simple moving average is $104.93 and its 200 day simple moving average is $106.74.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 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 analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a $0.33 dividend. This is an increase from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Wednesday, February 12th. PACCAR's payout ratio is presently 16.69%.

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.