PACCAR Inc (NASDAQ:PCAR) Position Boosted by Capital Research Global Investors

Capital Research Global Investors grew its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 21.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,011,888 shares of the company's stock after buying an additional 534,609 shares during the period. Capital Research Global Investors owned approximately 0.57% of PACCAR worth $313,297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Meeder Asset Management Inc. lifted its position in PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after acquiring an additional 193 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of PACCAR during the 4th quarter worth about $37,000. Kestra Investment Management LLC acquired a new stake in shares of PACCAR in the fourth quarter valued at approximately $37,000. OFI Invest Asset Management acquired a new position in shares of PACCAR in the fourth quarter valued at $43,000. Finally, Atala Financial Inc bought a new position in PACCAR in the 4th quarter valued at about $43,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $121.00 to $105.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and increased their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Evercore ISI dropped their price target on shares of PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Citigroup decreased their target price on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, Melius Research set a $120.00 price objective on PACCAR in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $108.59.

PACCAR Stock Performance

NASDAQ PCAR traded up $0.52 during mid-day trading on Wednesday, reaching $89.08. 2,799,060 shares of the stock were exchanged, compared to its average volume of 2,752,541. The business's 50 day moving average is $98.44 and its 200-day moving average is $105.61. The company has a market capitalization of $46.76 billion, a P/E ratio of 11.26, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 1 year low of $85.05 and a 1 year high of $118.81. 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 announced its quarterly 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 net margin of 12.36% and a return on equity of 23.53%. On average, equities research analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost from PACCAR's previous quarterly dividend of $0.30. PACCAR's dividend payout ratio is currently 16.69%.

Insider Transactions at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares in the company, valued at $100,929.63. This represents a 86.32 % 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. Corporate 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.