Fmr LLC Has $851.07 Million Holdings in PACCAR Inc (NASDAQ:PCAR)

FMR LLC lessened its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 31.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,624,495 shares of the company's stock after selling 4,014,955 shares during the quarter. FMR LLC owned about 1.64% of PACCAR worth $851,065,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PCAR. Janus Henderson Group PLC lifted its position in PACCAR by 0.4% during the 1st quarter. Janus Henderson Group PLC now owns 68,188 shares of the company's stock worth $8,445,000 after acquiring an additional 301 shares during the last quarter. Tidal Investments LLC boosted its stake in PACCAR by 19.5% during the 1st quarter. Tidal Investments LLC now owns 21,616 shares of the company's stock valued at $2,678,000 after purchasing an additional 3,526 shares during the period. New Covenant Trust Company N.A. acquired a new stake in PACCAR in the 1st quarter valued at approximately $27,000. Citizens Financial Group Inc. RI bought a new position in PACCAR in the 1st quarter worth approximately $400,000. Finally, Virtu Financial LLC acquired a new position in shares of PACCAR during the first quarter worth approximately $1,359,000. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Price Performance

NASDAQ:PCAR traded up $0.36 during mid-day trading on Thursday, reaching $116.18. 1,685,361 shares of the company were exchanged, compared to its average volume of 2,612,256. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a market cap of $60.91 billion, a PE ratio of 12.98, a PEG ratio of 1.83 and a beta of 0.89. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The company has a fifty day moving average of $107.28 and a 200 day moving average of $103.28.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to analysts' expectations of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. PACCAR's revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.34 EPS. On average, research analysts anticipate that PACCAR Inc will post 7.98 EPS for the current fiscal year.

PACCAR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR's dividend payout ratio (DPR) is presently 13.41%.

Analysts Set New Price Targets

PCAR has been the topic of several research reports. Truist Financial boosted their price target on PACCAR from $103.00 to $107.00 and gave the company a "hold" rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their target price on PACCAR from $125.00 to $122.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Morgan Stanley decreased their price target on shares of PACCAR from $135.00 to $126.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Citigroup upped their target price on shares of PACCAR from $110.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, November 20th. Finally, BNP Paribas raised PACCAR to a "hold" rating in a report on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, PACCAR has a consensus rating of "Hold" and an average target price of $117.64.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares in the company, valued at approximately $328,353.47. This trade represents a 51.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock worth $6,358,552 over the last 90 days. Insiders own 2.02% of the company's stock.

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.