Vest Financial LLC Buys 35,635 Shares of PACCAR Inc (NASDAQ:PCAR)

Vest Financial LLC lifted its position in PACCAR Inc (NASDAQ:PCAR) by 13.1% during the 4th quarter, HoldingsChannel reports. The firm owned 308,356 shares of the company’s stock after acquiring an additional 35,635 shares during the quarter. Vest Financial LLC’s holdings in PACCAR were worth $32,075,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PCAR. Wellington Management Group LLP raised its holdings in shares of PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after acquiring an additional 4,669,172 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position 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 worth $1,006,033,000 after purchasing an additional 3,296,146 shares during the last quarter. Fisher Asset Management LLC raised its stake in 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 purchasing an additional 89,245 shares in the last quarter. JPMorgan Chase & Co. lifted its position in PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after purchasing an additional 1,164,692 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after buying an additional 178,813 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, 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 value of $11,565,536.76. Following the completion of the transaction, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 130,871 shares of company stock worth $14,586,333 in the last three months. 2.02% of the stock is owned by insiders.

PACCAR Stock Performance

PACCAR stock opened at $106.02 on Friday. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The company has a market capitalization of $55.59 billion, a PE ratio of 13.40, a P/E/G ratio of 2.79 and a beta of 0.92. The company has a 50 day moving average price of $109.49 and a 200-day moving average price of $104.55. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.67.

PACCAR (NASDAQ:PCAR) 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 net margin of 12.36% and a return on equity of 23.53%. As a group, equities analysts forecast that PACCAR Inc will post 7.6 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 15.17%.

Analyst Upgrades and Downgrades

PCAR has been the topic of several recent research reports. JPMorgan Chase & Co. upped 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. Morgan Stanley lowered their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. BNP Paribas upgraded PACCAR to a “hold” rating in a report on Wednesday, October 16th. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a report on Friday, December 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $121.95.

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.