Aviva PLC Buys 124,996 Shares of PACCAR Inc (NASDAQ:PCAR)

Aviva PLC raised its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 65.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 315,286 shares of the company’s stock after acquiring an additional 124,996 shares during the period. Aviva PLC’s holdings in PACCAR were worth $32,796,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its position in shares of PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after acquiring an additional 193 shares during the period. Golden State Wealth Management LLC bought a new position in PACCAR during the fourth quarter valued at $37,000. Kestra Investment Management LLC purchased a new stake in PACCAR in the fourth quarter worth $37,000. OFI Invest Asset Management bought a new stake in shares of PACCAR in the fourth quarter valued at $43,000. Finally, Atala Financial Inc purchased a new position in shares of PACCAR during the 4th quarter valued at $43,000. Institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. UBS Group downgraded PACCAR from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $124.00 to $108.00 in a research report on Tuesday, March 18th. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Truist Financial increased their price objective on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Finally, Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.54.

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction dated 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 owns 951 shares of the company’s stock, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 in the last quarter. 2.02% of the stock is owned by insiders.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $90.88 on Monday. The company’s fifty day moving average price is $103.74 and its 200-day moving average price is $106.71. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The firm has a market capitalization of $47.71 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a one year low of $86.74 and a one year high of $123.20.

PACCAR (NASDAQ:PCAR) last released 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%. On average, equities research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a $0.33 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.45%. PACCAR’s payout ratio 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.