New Age Alpha Advisors LLC Buys New Position in PACCAR Inc (NASDAQ:PCAR)

New Age Alpha Advisors LLC purchased a new position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 43,335 shares of the company's stock, valued at approximately $4,508,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of PACCAR by 53.3% during the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company's stock valued at $1,325,678,000 after purchasing an additional 4,669,172 shares during the period. Norges Bank purchased a new stake in PACCAR during the 4th quarter worth $526,922,000. JPMorgan Chase & Co. lifted its holdings in PACCAR by 12.1% in the 4th quarter. JPMorgan Chase & Co. now owns 3,941,495 shares of the company's stock worth $409,994,000 after buying an additional 426,311 shares in the last quarter. Bank of New York Mellon Corp boosted its position in PACCAR by 1.8% in the 4th quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company's stock valued at $364,690,000 after buying an additional 61,457 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock valued at $335,334,000 after acquiring an additional 178,813 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

Insider Activity

In related news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 61,005 shares of the company's stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,547 shares of company stock valued at $18,261,908. Insiders own 2.02% of the company's stock.

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Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of analyst reports. Citigroup reduced their price target on PACCAR from $112.00 to $105.00 and set a "neutral" rating for the company in a report on Monday. Jefferies Financial Group cut PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a research note on Friday, December 6th. UBS Group lowered shares of PACCAR from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $124.00 to $108.00 in a research note on Tuesday, March 18th. Truist Financial increased their price objective on shares of PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Finally, Melius Research set a $120.00 target price on shares of 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 given a strong buy rating to the company. According to data from MarketBeat.com, PACCAR currently has a consensus rating of "Moderate Buy" and a consensus target price of $117.54.

PACCAR Stock Performance

NASDAQ:PCAR traded up $0.90 during midday trading on Tuesday, reaching $98.27. 1,334,697 shares of the company traded hands, compared to its average volume of 2,649,011. The firm has a market capitalization of $51.58 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a fifty day moving average price of $104.93 and a 200 day moving average price of $106.74. 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 Inc has a twelve month low of $90.04 and a twelve month high of $124.39.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results 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 net margin of 12.36% and a return on equity of 23.53%. On average, analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.34%. This is a positive change from PACCAR's previous quarterly dividend of $0.30. PACCAR's dividend payout ratio (DPR) is presently 16.69%.

PACCAR Company 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.