Paradiem LLC Boosts Stake in PACCAR Inc (NASDAQ:PCAR)

Paradiem LLC boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 0.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 115,036 shares of the company’s stock after acquiring an additional 283 shares during the period. PACCAR makes up approximately 3.2% of Paradiem LLC’s portfolio, making the stock its 12th largest position. Paradiem LLC’s holdings in PACCAR were worth $11,966,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Wellington Management Group LLP boosted its position in PACCAR by 53.3% in 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 buying an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in PACCAR by 47.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after buying an additional 3,296,146 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in 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 acquiring an additional 1,164,692 shares during the period. Erste Asset Management GmbH acquired a new position in PACCAR in the third quarter valued at approximately $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in PACCAR by 115.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock worth $106,047,000 after purchasing an additional 576,532 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PCAR. Citigroup decreased their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Truist Financial raised their price objective on shares of PACCAR from $110.00 to $112.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. BNP Paribas upgraded shares of PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $120.13.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction on 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 in the company, valued at $17,782,251.52. The trade was a 13.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the sale, the chief financial officer now owns 105,558 shares of the company’s stock, valued at $11,287,316.94. This trade represents a 15.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock worth $6,358,552 in the last ninety days. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

NASDAQ PCAR opened at $109.84 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The firm’s fifty day moving average price is $110.84 and its two-hundred day moving average price is $104.19. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The firm has a market capitalization of $57.59 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 2.78 and a beta of 0.93.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the prior year, the company posted $2.34 earnings per share. PACCAR’s revenue was down 5.2% compared to the same quarter last year. As a group, research analysts anticipate that PACCAR Inc will post 7.93 EPS for the current year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Investors 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 positive change from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is 13.41%.

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.