Russell Investments Group Ltd. Buys 45,211 Shares of PACCAR Inc (NASDAQ:PCAR)

Russell Investments Group Ltd. grew its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 13.3% in the 4th quarter, HoldingsChannel reports. The fund owned 384,314 shares of the company’s stock after purchasing an additional 45,211 shares during the quarter. Russell Investments Group Ltd.’s holdings in PACCAR were worth $37,534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. AdvisorNet Financial Inc boosted its position in shares of PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of PACCAR in the third quarter valued at approximately $26,000. ST Germain D J Co. Inc. raised its stake in shares of PACCAR by 61.9% during the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after acquiring an additional 130 shares during the last quarter. Arlington Trust Co LLC bought a new position in shares of PACCAR during the third quarter worth about $30,000. Finally, ORG Partners LLC lifted its holdings in PACCAR by 6,200.0% in the fourth quarter. ORG Partners LLC now owns 378 shares of the company’s stock valued at $37,000 after buying an additional 372 shares during the period. 64.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 4,829 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction of $493,137.48. Following the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Todd R. Hubbard sold 4,829 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO R Preston Feight sold 27,320 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the completion of the sale, the chief executive officer now directly owns 145,495 shares of the company’s stock, valued at $15,010,719.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,946 shares of company stock worth $7,003,148. Corporate insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PCAR. TD Cowen boosted their price objective on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. Evercore ISI boosted their target price on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Royal Bank of Canada assumed coverage on PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price on the stock. The Goldman Sachs Group lifted their price target on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $113.08.

PACCAR Trading Up 1.5 %

Shares of PCAR stock opened at $113.64 on Tuesday. PACCAR Inc has a 52-week low of $68.40 and a 52-week high of $125.50. The business’s fifty day moving average is $116.69 and its 200 day moving average is $102.18. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. The company has a market capitalization of $59.55 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 1.68 and a beta of 0.92.

PACCAR Dividend Announcement

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

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.