Harvest Fund Management Co. Ltd Increases Stock Position in PACCAR Inc (NASDAQ:PCAR)

Harvest Fund Management Co. Ltd lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 32.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,980 shares of the company’s stock after acquiring an additional 7,833 shares during the period. Harvest Fund Management Co. Ltd’s holdings in PACCAR were worth $3,313,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Xponance Inc. grew its position in shares of PACCAR by 3.9% during the fourth quarter. Xponance Inc. now owns 74,319 shares of the company’s stock worth $7,731,000 after acquiring an additional 2,769 shares during the last quarter. Generali Asset Management SPA SGR purchased a new position in PACCAR in the 4th quarter valued at $6,437,000. Horizon Investments LLC grew its position in PACCAR by 1.9% in the 4th quarter. Horizon Investments LLC now owns 15,955 shares of the company’s stock valued at $1,660,000 after buying an additional 297 shares during the last quarter. Advisors Asset Management Inc. grew its position in PACCAR by 18.5% in the 4th quarter. Advisors Asset Management Inc. now owns 61,628 shares of the company’s stock valued at $6,411,000 after buying an additional 9,641 shares during the last quarter. Finally, Kennondale Capital Management LLC purchased a new position in PACCAR in the 4th quarter valued at $1,623,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Harrie Schippers sold 28,676 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the transaction, the chief financial officer now directly owns 114,659 shares of the company’s stock, valued at $12,150,414.23. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PCAR shares. Melius Research upgraded shares of PACCAR to a “strong-buy” rating in a research report on Tuesday. Truist Financial lifted their price objective on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research report on Friday, December 6th. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Evercore ISI lowered their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.23.

PACCAR Trading Down 0.9 %

NASDAQ:PCAR opened at $100.21 on Wednesday. The company has a market capitalization of $52.59 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The stock has a fifty day simple moving average of $106.86 and a 200-day simple moving average of $106.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (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 research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a $3.00 dividend. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is presently 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.