PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,398,193 shares of the company's stock after purchasing an additional 178,813 shares during the period. Principal Financial Group Inc. owned 0.65% of PACCAR worth $335,334,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PCAR. Quarry LP purchased a new stake in PACCAR in the second quarter valued at approximately $26,000. New Covenant Trust Company N.A. purchased a new position in shares of PACCAR in the 1st quarter worth $27,000. Meeder Asset Management Inc. boosted its holdings in PACCAR by 269.7% in the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company's stock valued at $29,000 after acquiring an additional 205 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in PACCAR during the second quarter valued at about $36,000. Finally, Fortitude Family Office LLC increased its stake in PACCAR by 200.0% during the second quarter. Fortitude Family Office LLC now owns 366 shares of the company's stock worth $38,000 after acquiring an additional 244 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PACCAR

In other news, VP Todd R. Hubbard sold 3,230 shares of PACCAR stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the sale, the vice president now owns 3,061 shares of the company's stock, valued at approximately $328,353.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now owns 171,776 shares of the company's stock, valued at approximately $17,782,251.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the company's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now directly owns 3,061 shares of the company's stock, valued at approximately $328,353.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock valued at $6,358,552 in the last ninety days. Company insiders own 2.02% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PCAR. Citigroup boosted their target price on PACCAR from $100.00 to $108.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. StockNews.com upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a report on Wednesday, July 24th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $119.00 price target on shares of PACCAR in a report on Monday. Deutsche Bank Aktiengesellschaft decreased their target price on PACCAR from $121.00 to $109.00 and set a "buy" rating for the company in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. dropped their target price on PACCAR from $125.00 to $122.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $113.82.

PACCAR Stock Performance

Shares of PCAR stock traded up $2.09 on Friday, hitting $114.81. 940,096 shares of the stock traded hands, compared to its average volume of 2,634,088. PACCAR Inc has a 1-year low of $85.77 and a 1-year high of $125.50. The company's fifty day moving average is $101.21 and its 200 day moving average is $102.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The company has a market capitalization of $60.19 billion, a PE ratio of 12.59, a PEG ratio of 1.64 and a beta of 0.89.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business's revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $2.34 EPS. On average, equities research analysts predict that PACCAR Inc will post 8 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.05%. PACCAR's dividend payout ratio is presently 13.41%.

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.