PACCAR Inc (NASDAQ:PCAR) Stake Raised by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lifted its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 9.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,398 shares of the company's stock after acquiring an additional 5,766 shares during the period. O Shaughnessy Asset Management LLC's holdings in PACCAR were worth $6,803,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Golden State Wealth Management LLC purchased a new stake in PACCAR during the fourth quarter valued at about $37,000. Kestra Investment Management LLC purchased a new stake in shares of PACCAR during the 4th quarter worth about $37,000. OFI Invest Asset Management acquired a new stake in PACCAR during the 4th quarter worth approximately $43,000. Atala Financial Inc purchased a new position in PACCAR in the fourth quarter valued at approximately $43,000. Finally, Regents Gate Capital LLP purchased a new position in PACCAR in the fourth quarter valued at approximately $44,000. 64.90% of the stock is owned by institutional investors and hedge funds.

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 completion of the transaction, the chief financial officer now directly owns 114,659 shares of the company's stock, valued at approximately $12,150,414.23. This represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,547 shares of company stock valued at $18,261,908. Company insiders own 2.02% of the company's stock.

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PACCAR Stock Down 1.6 %

Shares of PCAR stock traded down $1.48 during trading hours on Friday, hitting $90.88. 6,326,890 shares of the company were exchanged, compared to its average volume of 2,680,037. The stock has a market capitalization of $47.71 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR Inc has a one year low of $89.67 and a one year high of $123.20. The business's 50-day simple moving average is $103.74 and its two-hundred day simple moving average is $106.71. 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 (NASDAQ:PCAR - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $1.66 EPS 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 predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.33 per share. This is a positive change from PACCAR's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a yield of 1.45%. PACCAR's payout ratio is presently 16.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $132.00 to $121.00 and set an "overweight" rating for the company in a research report on Tuesday, March 18th. Citigroup cut their price objective on PACCAR from $112.00 to $105.00 and set a "neutral" rating on the stock in a research report on Monday, March 31st. Melius Research set a $120.00 target price on PACCAR in a research report on Tuesday, March 18th. Truist Financial increased their target price on PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Finally, Bank of America raised 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 report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $117.54.

PACCAR 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.