Madison Investment Advisors LLC Takes Position in PACCAR Inc (NASDAQ:PCAR)

Madison Investment Advisors LLC acquired a new stake in shares of PACCAR Inc (NASDAQ:PCAR) during the fourth quarter, HoldingsChannel reports. The fund acquired 2,448,096 shares of the company’s stock, valued at approximately $254,651,000. PACCAR accounts for 2.9% of Madison Investment Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PCAR. Principal Financial Group Inc. lifted its position in PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after purchasing an additional 178,813 shares during the period. Ashton Thomas Securities LLC bought a new position in PACCAR during the third quarter valued at approximately $52,000. Sumitomo Mitsui Trust Group Inc. lifted its position in PACCAR by 1.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,304,807 shares of the company’s stock valued at $128,758,000 after purchasing an additional 20,155 shares during the period. Oppenheimer Asset Management Inc. lifted its position in PACCAR by 1.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 79,485 shares of the company’s stock valued at $7,844,000 after purchasing an additional 1,249 shares during the period. Finally, Peak Asset Management LLC raised its position in PACCAR by 0.9% in the third quarter. Peak Asset Management LLC now owns 138,976 shares of the company’s stock worth $13,714,000 after acquiring an additional 1,219 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the transaction, the chief executive officer now directly owns 206,129 shares of the company’s stock, valued at approximately $22,876,196.42. This trade represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,547 shares of company stock valued at $18,261,908. Corporate insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on PCAR shares. Evercore ISI decreased their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Jefferies Financial Group downgraded shares of 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. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Citigroup decreased their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $121.77.

PACCAR Stock Down 3.8 %

Shares of PCAR stock opened at $98.42 on Friday. The company has a market capitalization of $51.65 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 2.77 and a beta of 0.91. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The company’s fifty day moving average price is $107.29 and its 200-day moving average price is $106.24. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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 expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

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.