Neuberger Berman Group LLC Grows Stake in PACCAR Inc (NASDAQ:PCAR)

Neuberger Berman Group LLC grew its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 1,626.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 605,883 shares of the company's stock after buying an additional 570,793 shares during the period. Neuberger Berman Group LLC owned approximately 0.12% of PACCAR worth $63,012,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PCAR. Meeder Asset Management Inc. raised its holdings in PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after acquiring an additional 193 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of PACCAR in the fourth quarter worth $37,000. Kestra Investment Management LLC purchased a new position in shares of PACCAR in the fourth quarter worth $37,000. OFI Invest Asset Management bought a new position in shares of PACCAR during the fourth quarter valued at $43,000. Finally, Atala Financial Inc purchased a new stake in shares of PACCAR during the fourth quarter valued at $43,000. Institutional investors own 64.90% of the company's stock.

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 stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the sale, the chief financial officer now directly owns 114,659 shares of the company's stock, valued at $12,150,414.23. This represents a 20.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the transaction, the executive vice president now owns 61,005 shares of the company's stock, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock worth $18,261,908 in the last 90 days. 2.02% of the stock is currently owned by corporate insiders.

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Analyst Ratings Changes

PCAR has been the topic of several research analyst reports. Truist Financial lowered their target price on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and raised their target price for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $121.00 to $105.00 and set an "overweight" rating for the company in a research note on Friday. UBS Group downgraded PACCAR from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. Finally, Melius Research set a $120.00 price objective on PACCAR in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $112.13.

PACCAR Price Performance

Shares of NASDAQ:PCAR traded down $0.96 during trading on Tuesday, hitting $88.59. 1,015,304 shares of the company's stock were exchanged, compared to its average volume of 2,738,023. The business's 50-day simple moving average is $100.57 and its 200 day simple moving average is $106.15. The company has a market cap of $46.50 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 52-week low of $85.10 and a 52-week high of $121.75. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, equities analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business 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 an increase from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR's payout ratio is currently 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.