Massachusetts Financial Services Co. MA Increases Stake in PACCAR Inc (NASDAQ:PCAR)

Massachusetts Financial Services Co. MA boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 5.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 10,767,134 shares of the company’s stock after acquiring an additional 572,231 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in PACCAR were worth $1,119,997,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its holdings in shares of PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after purchasing an additional 193 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of PACCAR in the 4th quarter worth $37,000. Kestra Investment Management LLC acquired a new position in PACCAR in the fourth quarter valued at $37,000. Atala Financial Inc purchased a new stake in PACCAR during the fourth quarter valued at about $43,000. Finally, Regents Gate Capital LLP acquired a new stake in PACCAR during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

PCAR has been the topic of several research analyst reports. Melius Research set a $120.00 price objective on PACCAR in a research note on Tuesday, March 18th. UBS Group downgraded shares of PACCAR from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $124.00 to $108.00 in a research note on Tuesday, March 18th. Citigroup cut their target price on shares of PACCAR from $112.00 to $105.00 and set a “neutral” rating on the stock in a research note on Monday. Truist Financial upped their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Finally, Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research report on Friday, December 6th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $117.54.

PACCAR Trading Up 0.9 %

PCAR opened at $98.29 on Wednesday. The stock has a market capitalization of $51.60 billion, a PE ratio of 12.43, a P/E/G ratio of 2.77 and a beta of 0.91. 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 Inc has a 12-month low of $90.04 and a 12-month high of $123.20. The firm’s fifty day moving average price is $104.69 and its 200 day moving average price is $106.76.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. As a group, research analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a $0.33 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.34%. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Insider Activity

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares of the company’s stock, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by insiders.

PACCAR Company 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.