Heritage Investors Management Corp Has $17.75 Million Stake in PACCAR Inc (NASDAQ:PCAR)

Heritage Investors Management Corp reduced its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,626 shares of the company’s stock after selling 963 shares during the period. Heritage Investors Management Corp’s holdings in PACCAR were worth $17,749,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PCAR. Wellington Management Group LLP increased 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 valued at $1,325,678,000 after acquiring an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in PACCAR by 47.8% during 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 period. Fisher Asset Management LLC grew its holdings 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 during the last quarter. JPMorgan Chase & Co. raised its position in shares of 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 purchasing an additional 1,164,692 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of PACCAR by 1.8% in the fourth quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company’s stock worth $364,690,000 after buying an additional 61,457 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling

In other news, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. This represents a 86.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This trade represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 over the last quarter. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Performance

PCAR opened at $106.03 on Thursday. The stock’s 50 day simple moving average is $107.24 and its 200-day simple moving average is $105.53. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a market cap of $55.64 billion, a PE ratio of 13.40, a P/E/G ratio of 2.77 and a beta of 0.92. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced 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 net margin of 12.36% and a return on equity of 23.53%. Sell-side analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm 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. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is presently 16.69%.

Analyst Ratings Changes

A number of research analysts recently issued reports on PCAR shares. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Jefferies Financial Group downgraded PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a research report on Monday, November 4th. Truist Financial increased their target price on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Finally, Citigroup dropped their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and a consensus price target of $121.77.

About PACCAR

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.