The Manufacturers Life Insurance Company boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 10.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362,571 shares of the company’s stock after purchasing an additional 33,653 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.10% of PACCAR worth $22,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of PACCAR in the 4th quarter worth about $283,130,000. Capital World Investors lifted its stake in PACCAR by 43.5% in the first quarter. Capital World Investors now owns 9,104,922 shares of the company’s stock worth $556,584,000 after purchasing an additional 2,759,826 shares during the last quarter. Capital International Investors purchased a new stake in PACCAR during the first quarter valued at about $57,080,000. Madison Asset Management LLC bought a new position in shares of PACCAR during the fourth quarter valued at about $51,003,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of PACCAR in the first quarter worth about $38,946,000. 61.42% of the stock is currently owned by institutional investors and hedge funds.
In other PACCAR news, CFO Harrie Schippers sold 4,000 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $68.81, for a total value of $275,240.00. Following the sale, the chief financial officer now owns 41,515 shares in the company, valued at $2,856,647.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David J. Danforth sold 1,956 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $66.36, for a total transaction of $129,800.16. Following the transaction, the vice president now directly owns 8,004 shares of the company’s stock, valued at approximately $531,145.44. The disclosure for this sale can be found here. Insiders have sold 7,387 shares of company stock valued at $505,210 in the last three months. Insiders own 2.18% of the company’s stock.
Shares of PCAR opened at $72.44 on Monday. The company has a 50-day simple moving average of $72.33 and a two-hundred day simple moving average of $71.73. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.49 and a quick ratio of 2.32. The firm has a market capitalization of $25.04 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12. PACCAR Inc has a one year low of $49.11 and a one year high of $83.41.
PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 21st. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.18). PACCAR had a return on equity of 21.76% and a net margin of 8.73%. The firm had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the prior year, the company posted $1.81 EPS. The firm’s revenue was down 22.2% on a year-over-year basis. Analysts expect that PACCAR Inc will post 2.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 12th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.77%. The ex-dividend date was Monday, May 11th. PACCAR’s dividend payout ratio is currently 18.63%.
PCAR has been the topic of several recent research reports. Goldman Sachs Group reduced their price target on PACCAR from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, March 19th. Piper Sandler cut shares of PACCAR from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $66.00 to $73.00 in a report on Tuesday, May 12th. Vertical Research raised shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Monday, March 2nd. Citigroup increased their price target on shares of PACCAR from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Finally, Wolfe Research upgraded shares of PACCAR from an “underperform” rating to a “market perform” rating in a research report on Friday, March 27th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $74.79.
PACCAR Company Profile
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
Recommended Story: Outstanding Shares
Want to see what other hedge funds are holding PCAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PACCAR Inc (NASDAQ:PCAR).
Receive News & Ratings for PACCAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR and related companies with MarketBeat.com's FREE daily email newsletter.