MetLife Investment Management LLC Raises Stake in PACCAR Inc (NASDAQ:PCAR)

MetLife Investment Management LLC grew its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 138,594 shares of the company’s stock after acquiring an additional 2,459 shares during the quarter. MetLife Investment Management LLC’s holdings in PACCAR were worth $14,417,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PCAR. Meeder Asset Management Inc. raised its position in PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after purchasing an additional 193 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of PACCAR in the fourth quarter worth about $37,000. Kestra Investment Management LLC bought a new stake in shares of PACCAR in the 4th quarter valued at about $37,000. Atala Financial Inc purchased a new stake in PACCAR during the 4th quarter valued at about $43,000. Finally, Regents Gate Capital LLP purchased a new stake in PACCAR during the 4th quarter valued at about $44,000. 64.90% of the stock is currently owned by institutional investors.

Insider Transactions at PACCAR

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction dated 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 approximately $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. This trade represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock valued at $18,261,908 in the last ninety days. 2.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PCAR has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective on PACCAR from $121.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Melius Research set a $120.00 price target on shares of PACCAR in a research report on Tuesday, March 18th. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, Evercore ISI reduced their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $108.59.

PACCAR Trading Up 1.6 %

NASDAQ PCAR opened at $88.17 on Monday. The firm has a market capitalization of $46.28 billion, a PE ratio of 11.15, a P/E/G ratio of 2.77 and a beta of 0.96. The stock’s 50 day moving average is $99.09 and its 200 day moving average is $105.84. PACCAR Inc has a twelve month low of $85.10 and a twelve month high of $118.81. 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 (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.50%. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

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.