Twin Tree Management LP Acquires 38,276 Shares of PACCAR Inc (NASDAQ:PCAR)

Twin Tree Management LP grew its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 42.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 129,306 shares of the company's stock after buying an additional 38,276 shares during the period. Twin Tree Management LP's holdings in PACCAR were worth $13,450,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP increased its stake in PACCAR by 53.3% in the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company's stock valued at $1,325,678,000 after acquiring an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of PACCAR by 47.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock valued at $1,006,033,000 after purchasing an additional 3,296,146 shares during the period. Fisher Asset Management LLC raised its holdings in shares of PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock worth $511,254,000 after buying an additional 89,245 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of PACCAR by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock worth $346,878,000 after buying an additional 1,164,692 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of PACCAR by 1.8% during the 4th quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company's stock worth $364,690,000 after buying an additional 61,457 shares during the period. Institutional investors own 64.90% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Melius raised shares of PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday. Truist Financial raised their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Jefferies Financial Group downgraded PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a report on Friday, December 6th. Citigroup dropped their price target on PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. Finally, Melius Research raised PACCAR to a "strong-buy" rating in a research note on Tuesday. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $118.23.

PACCAR Stock Down 1.2 %

Shares of NASDAQ:PCAR traded down $1.21 during trading on Friday, hitting $97.11. 8,554,751 shares of the company's stock traded hands, compared to its average volume of 2,529,508. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $106.48 and a 200-day moving average price of $106.40. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a market cap of $50.96 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, research analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were paid a $0.33 dividend. This is a boost from PACCAR's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 annualized dividend and a yield of 1.36%. PACCAR's payout ratio is presently 16.69%.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This represents a 26.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. This represents 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 in the last quarter. 2.02% of the stock is currently owned by insiders.

About PACCAR

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.