PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Vestcor Inc

Vestcor Inc boosted its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 14.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 20,794 shares of the company's stock after purchasing an additional 2,565 shares during the period. Vestcor Inc's holdings in PACCAR were worth $2,163,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Golden State Wealth Management LLC acquired a new position in PACCAR in the 4th quarter worth about $37,000. Kestra Investment Management LLC acquired a new position in shares of PACCAR during the 4th quarter worth approximately $37,000. OFI Invest Asset Management purchased a new position in shares of PACCAR during the 4th quarter valued at approximately $43,000. Regents Gate Capital LLP purchased a new stake in PACCAR during the 4th quarter worth approximately $44,000. Finally, Larson Financial Group LLC grew its holdings in PACCAR by 39.1% in the 4th quarter. Larson Financial Group LLC now owns 548 shares of the company's stock valued at $57,000 after buying an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company's stock.

Insider Activity

In related news, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 directly owns 61,005 shares in the company, valued at approximately $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. In the last quarter, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

PCAR has been the topic of several recent research reports. Melius Research raised shares of PACCAR to a "strong-buy" rating in a research report on Tuesday. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $132.00 to $121.00 and set an "overweight" rating for the company in a report on Tuesday. Melius upgraded PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday. Citigroup cut their target price on PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Finally, Truist Financial upped their price target on PACCAR from $112.00 to $113.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PACCAR presently has an average rating of "Moderate Buy" and a consensus target price of $118.23.

PACCAR Stock Down 0.6 %

Shares of NASDAQ PCAR traded down $0.62 during midday trading on Wednesday, hitting $99.59. The company's stock had a trading volume of 2,233,432 shares, compared to its average volume of 2,504,357. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The business's fifty day simple moving average is $106.86 and its two-hundred day simple moving average is $106.50. The firm has a market capitalization of $52.27 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly 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 return on equity of 23.53% and a net margin of 12.36%. On average, equities analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a positive change from PACCAR's previous dividend of $0.89. PACCAR's dividend payout ratio (DPR) is currently 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.