Parcion Private Wealth LLC raised its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 268,617 shares of the company's stock after acquiring an additional 2,512 shares during the period. PACCAR makes up 2.1% of Parcion Private Wealth LLC's portfolio, making the stock its 13th biggest holding. Parcion Private Wealth LLC owned approximately 0.05% of PACCAR worth $27,942,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP raised its stake in PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company's stock valued at $1,325,678,000 after purchasing an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of PACCAR by 47.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock worth $1,006,033,000 after purchasing an additional 3,296,146 shares during the period. Fisher Asset Management LLC raised its position in shares of PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock valued at $511,254,000 after buying an additional 89,245 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock valued at $346,878,000 after buying an additional 1,164,692 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock valued at $335,334,000 after buying an additional 178,813 shares during the period. 64.90% of the stock is currently owned by institutional investors.
Insider Activity
In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now 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 filing with the SEC, which can be accessed through the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the sale, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several equities analysts have commented on the company. Truist Financial upped their price target on 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 target price for the company. in a research note on Friday, December 6th. Citigroup decreased their price target on shares of PACCAR from $125.00 to $115.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. Royal Bank of Canada restated a "sector perform" rating and issued a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of PACCAR from $125.00 to $132.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, PACCAR presently has a consensus rating of "Moderate Buy" and an average target price of $121.77.
Check Out Our Latest Stock Report on PACCAR
PACCAR Price Performance
PCAR stock traded down $2.00 during trading on Friday, hitting $104.46. 2,978,755 shares of the stock traded hands, compared to its average volume of 2,311,501. The stock has a market cap of $54.77 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 2.79 and a beta of 0.92. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company has a current ratio of 1.67, a quick ratio of 1.39 and a debt-to-equity ratio of 0.54. The company has a 50 day simple moving average of $107.67 and a 200 day simple moving average of $105.07.
PACCAR (NASDAQ:PCAR - Get Free Report) last posted its earnings results 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 announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR's previous dividend of $0.89. PACCAR's dividend payout ratio is presently 16.69%.
About PACCAR
(
Free Report)
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.
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