NewEdge Advisors LLC Increases Position in PACCAR Inc (NASDAQ:PCAR)

NewEdge Advisors LLC grew its holdings in PACCAR Inc (NASDAQ:PCAR - Free Report) by 21.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,890 shares of the company's stock after purchasing an additional 3,296 shares during the quarter. NewEdge Advisors LLC's holdings in PACCAR were worth $1,965,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PCAR. Wellington Management Group LLP lifted its position in PACCAR by 25.0% during the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company's stock worth $1,747,408,000 after buying an additional 3,364,650 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of PACCAR by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company's stock worth $1,275,269,000 after acquiring an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of PACCAR by 5.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company's stock valued at $1,119,997,000 after acquiring an additional 572,231 shares during the last quarter. FMR LLC grew its holdings in shares of PACCAR by 1.9% in the fourth quarter. FMR LLC now owns 8,791,660 shares of the company's stock valued at $914,509,000 after purchasing an additional 167,165 shares during the period. Finally, Norges Bank acquired a new stake in PACCAR during the fourth quarter worth about $526,922,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of PACCAR from $121.00 to $105.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Morgan Stanley downgraded PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price on the stock. in a research report on Wednesday, April 16th. Citigroup cut their price objective on PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, UBS Group cut shares of PACCAR from a "neutral" rating to a "sell" rating and decreased their target price for the company from $108.00 to $78.00 in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $108.59.

Insiders Place Their Bets

In related news, VP Michael K. Walton sold 6,000 shares of the business'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 owns 951 shares in the company, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 in the last 90 days. Corporate insiders own 2.02% of the company's stock.

PACCAR Stock Up 1.5 %

Shares of NASDAQ PCAR opened at $88.56 on Wednesday. PACCAR Inc has a 12-month low of $85.05 and a 12-month high of $118.81. The stock has a market cap of $46.49 billion, a P/E ratio of 11.20, a PEG ratio of 2.77 and a beta of 0.96. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The business's fifty day simple moving average is $98.44 and its 200-day simple moving average is $105.61.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results 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 fiscal year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a $0.33 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.49%. This is an increase from PACCAR's previous quarterly dividend of $0.30. 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.

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