Norges Bank bought a new position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,065,579 shares of the company's stock, valued at approximately $526,922,000. Norges Bank owned approximately 0.97% of PACCAR at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings 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 worth $1,325,678,000 after purchasing an additional 4,669,172 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in PACCAR by 12.1% during the 4th quarter. JPMorgan Chase & Co. now owns 3,941,495 shares of the company's stock worth $409,994,000 after acquiring an additional 426,311 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of 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 purchasing an additional 61,457 shares during the period. Principal Financial Group Inc. boosted its position in shares of PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock valued at $335,334,000 after purchasing an additional 178,813 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of PACCAR by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,149,396 shares of the company's stock worth $327,600,000 after buying an additional 96,497 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.
PACCAR Stock Performance
Shares of PCAR stock traded up $0.84 on Tuesday, hitting $98.21. 1,334,697 shares of the stock were exchanged, compared to its average volume of 2,648,858. PACCAR Inc has a one year low of $90.04 and a one year high of $124.39. The firm's 50 day moving average is $104.93 and its two-hundred day moving average is $106.74. The firm has a market capitalization of $51.55 billion, a PE ratio of 12.41, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.
PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Sell-side analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.
PACCAR Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.34%. This is a positive change from PACCAR's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR's payout ratio is currently 16.69%.
Insider Buying and Selling at PACCAR
In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, the vice president now owns 951 shares in the company, valued at $100,929.63. This trade represents a 86.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 61,005 shares in the company, valued at approximately $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 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 company insiders.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. UBS Group lowered PACCAR from a "buy" rating to a "neutral" rating and decreased their target price for the company from $124.00 to $108.00 in a research report on Tuesday, March 18th. Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and upped their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Truist Financial boosted their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Finally, Jefferies Financial Group cut shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $117.54.
Get Our Latest Report on PCAR
PACCAR Profile
(
Free Report)
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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