Harvest Fund Management Co. Ltd Raises Stake in PACCAR Inc (NASDAQ:PCAR)

Harvest Fund Management Co. Ltd raised its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 32.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,980 shares of the company's stock after purchasing an additional 7,833 shares during the period. Harvest Fund Management Co. Ltd's holdings in PACCAR were worth $3,313,000 at the end of the most recent quarter.

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

PACCAR Stock Down 1.2 %

NASDAQ:PCAR traded down $1.21 during trading hours on Friday, reaching $97.11. The company had a trading volume of 8,554,751 shares, compared to its average volume of 2,530,736. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $125.50. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The firm has a market cap of $50.96 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 2.77 and a beta of 0.91. The business's 50-day simple moving average is $106.29 and its two-hundred day simple moving average is $106.48.

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PACCAR (NASDAQ:PCAR - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate 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 analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This is a boost from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Wednesday, February 12th. PACCAR's dividend payout ratio (DPR) is currently 16.69%.

Insider Transactions at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the 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 of the company's stock, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the transaction, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 over the last three months. Corporate insiders own 2.02% of the company's stock.

Wall Street Analyst Weigh In

PCAR has been the topic of several recent research reports. Citigroup lowered their target price on shares of PACCAR from $125.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. UBS Group lowered PACCAR from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $124.00 to $108.00 in a research note on Tuesday, March 18th. Evercore ISI cut their target price on PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Jefferies Financial Group cut PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. dropped their price target on PACCAR from $132.00 to $121.00 and set an "overweight" rating for the company in a research note on Tuesday, March 18th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.23.

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.