Massachusetts Financial Services Co. MA Has $1.12 Billion Position in PACCAR Inc. $PCAR

Massachusetts Financial Services Co. MA cut its position in shares of PACCAR Inc. (NASDAQ:PCAR) by 1.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,366,547 shares of the company’s stock after selling 176,609 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.16% of PACCAR worth $1,117,559,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after acquiring an additional 290 shares in the last quarter. Focus Partners Wealth boosted its holdings in PACCAR by 15.4% during the first quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock worth $1,324,000 after purchasing an additional 1,812 shares during the last quarter. Baader Bank Aktiengesellschaft grew its position in PACCAR by 77.2% in the second quarter. Baader Bank Aktiengesellschaft now owns 4,095 shares of the company’s stock valued at $389,000 after purchasing an additional 1,784 shares in the last quarter. Swedbank AB increased its stake in PACCAR by 3.7% in the 2nd quarter. Swedbank AB now owns 370,125 shares of the company’s stock valued at $35,184,000 after buying an additional 13,240 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in PACCAR by 3.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 400,127 shares of the company’s stock worth $39,076,000 after buying an additional 11,570 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In related news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,338.20. This represents a 87.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.02% of the company’s stock.

PACCAR Stock Down 0.5%

PCAR stock opened at $121.36 on Friday. PACCAR Inc. has a 1-year low of $84.65 and a 1-year high of $122.65. The business’s 50 day simple moving average is $108.94 and its 200 day simple moving average is $102.02. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $63.74 billion, a PE ratio of 23.75, a PEG ratio of 14.96 and a beta of 1.01.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The business had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same period in the prior year, the business earned $1.85 EPS. The company’s revenue for the quarter was down 20.7% compared to the same quarter last year. As a group, research analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.1%. PACCAR’s payout ratio is presently 25.83%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PCAR shares. Zacks Research upgraded PACCAR from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Jefferies Financial Group restated a “hold” rating and issued a $90.00 price target on shares of PACCAR in a research note on Tuesday, October 21st. JPMorgan Chase & Co. boosted their price target on PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group set a $103.00 price objective on PACCAR and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Truist Financial raised their target price on shares of PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.33.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.