abrdn plc Increases Stake in PACCAR Inc (NASDAQ:PCAR)

abrdn plc lifted its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 50.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 264,756 shares of the company’s stock after buying an additional 89,359 shares during the quarter. abrdn plc’s holdings in PACCAR were worth $25,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. AdvisorNet Financial Inc grew its holdings in PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the period. OFI Invest Asset Management purchased a new stake in PACCAR in the third quarter worth about $26,000. ST Germain D J Co. Inc. grew its holdings in PACCAR by 61.9% in the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after purchasing an additional 130 shares during the period. Arlington Trust Co LLC purchased a new stake in PACCAR in the third quarter worth about $30,000. Finally, ORG Partners LLC grew its holdings in PACCAR by 6,200.0% in the fourth quarter. ORG Partners LLC now owns 378 shares of the company’s stock worth $37,000 after purchasing an additional 372 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Up 0.7 %

Shares of PCAR stock opened at $113.32 on Wednesday. PACCAR Inc has a 12 month low of $68.40 and a 12 month high of $125.50. The stock has a market cap of $59.38 billion, a P/E ratio of 12.92, a P/E/G ratio of 1.69 and a beta of 0.92. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The company has a 50 day simple moving average of $116.26 and a two-hundred day simple moving average of $101.43.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same period in the prior year, the company earned $1.76 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. On average, research analysts expect that PACCAR Inc will post 8.21 earnings per share for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were issued a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 0.95%. PACCAR’s dividend payout ratio is currently 12.31%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Royal Bank of Canada assumed coverage on shares of PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Evercore ISI upped their target price on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. Finally, UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their target price for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of “Moderate Buy” and an average target price of $110.82.

Insider Buying and Selling at PACCAR

In other PACCAR news, SVP Kevin D. Baney sold 7,203 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $103.03, for a total transaction of $742,125.09. Following the completion of the sale, the senior vice president now directly owns 6,621 shares of the company’s stock, valued at $682,161.63. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Kevin D. Baney sold 7,203 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $103.03, for a total value of $742,125.09. Following the completion of the sale, the senior vice president now directly owns 6,621 shares of the company’s stock, valued at $682,161.63. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at $607,814.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 153,496 shares of company stock valued at $15,834,812. Insiders own 2.02% of the company’s stock.

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.