Korea Investment CORP Has $35.70 Million Holdings in PACCAR Inc (NASDAQ:PCAR)

Korea Investment CORP grew its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 52.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 343,238 shares of the company's stock after buying an additional 117,913 shares during the period. Korea Investment CORP owned approximately 0.07% of PACCAR worth $35,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Financial Engines Advisors L.L.C. increased its position in shares of PACCAR by 61.0% during the fourth quarter. Financial Engines Advisors L.L.C. now owns 6,031 shares of the company's stock worth $627,000 after acquiring an additional 2,284 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in PACCAR by 106.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 17,893 shares of the company's stock worth $1,861,000 after purchasing an additional 9,227 shares during the last quarter. First American Trust FSB bought a new position in shares of PACCAR in the 4th quarter valued at about $3,327,000. TIAA Trust National Association grew its stake in PACCAR by 19.1% in the fourth quarter. TIAA Trust National Association now owns 3,479 shares of the company's stock valued at $362,000 after purchasing an additional 558 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC grew its stake in shares of PACCAR by 0.7% in the fourth quarter. Zevenbergen Capital Investments LLC now owns 23,445 shares of the company's stock valued at $2,439,000 after buying an additional 170 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

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Insider Buying and Selling at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were 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 owns 5,463 shares of the company's stock, valued at $612,129.15. This represents a 26.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael K. Walton sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the sale, the vice president now 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. Insiders have sold a total of 165,547 shares of company stock worth $18,261,908 over the last 90 days. Insiders own 2.02% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Jefferies Financial Group lowered PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a research note on Friday, December 6th. Evercore ISI reduced their target price on PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and increased their price target for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, Melius Research set a $120.00 price target on PACCAR in a report on Tuesday, March 18th. Eight equities 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 MarketBeat, PACCAR currently has an average rating of "Moderate Buy" and a consensus price target of $117.54.

PACCAR Price Performance

PACCAR stock traded up $0.25 during trading hours on Tuesday, reaching $97.62. 1,178,995 shares of the stock were exchanged, compared to its average volume of 2,647,883. 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 Inc has a twelve month low of $90.04 and a twelve month high of $124.39. The company has a market cap of $51.24 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The stock has a 50 day moving average of $104.93 and a two-hundred day moving average of $106.74.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) 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%. Equities analysts expect that PACCAR Inc will post 7.57 EPS 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. The ex-dividend date was Wednesday, February 12th. This is a positive change from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.35%. PACCAR's dividend payout ratio (DPR) is 16.69%.

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.