Intech Investment Management LLC Buys 11,917 Shares of PACCAR Inc. $PCAR

Intech Investment Management LLC boosted its stake in PACCAR Inc. (NASDAQ:PCAR) by 81.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,485 shares of the company’s stock after acquiring an additional 11,917 shares during the period. Intech Investment Management LLC’s holdings in PACCAR were worth $2,604,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of PACCAR by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 63,111,444 shares of the company’s stock worth $6,205,117,000 after purchasing an additional 485,678 shares during the last quarter. State Street Corp grew its holdings in PACCAR by 1.0% during the second quarter. State Street Corp now owns 22,534,596 shares of the company’s stock valued at $2,142,139,000 after purchasing an additional 218,188 shares during the period. Geode Capital Management LLC increased its position in PACCAR by 1.3% in the second quarter. Geode Capital Management LLC now owns 12,455,453 shares of the company’s stock worth $1,184,112,000 after buying an additional 159,632 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of PACCAR by 25.2% in the second quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock valued at $551,211,000 after buying an additional 1,165,443 shares during the period. Finally, Invesco Ltd. lifted its position in shares of PACCAR by 5.0% during the 2nd quarter. Invesco Ltd. now owns 5,212,386 shares of the company’s stock valued at $495,489,000 after buying an additional 246,410 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PCAR shares. JPMorgan Chase & Co. boosted their price target on shares of PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Truist Financial boosted their target price on shares of PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, January 28th. Wells Fargo & Company set a $119.00 price target on PACCAR and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Finally, Morgan Stanley set a $109.00 price objective on PACCAR and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $116.50.

Insider Transactions at PACCAR

In other PACCAR news, CEO R Preston Feight sold 9,258 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $129.70, for a total value of $1,200,762.60. Following the completion of the sale, the chief executive officer directly owned 258,566 shares of the company’s stock, valued at $33,536,010.20. The trade was a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP C Michael Dozier sold 79,076 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total value of $10,115,401.92. Following the transaction, the executive vice president directly owned 34,656 shares in the company, valued at $4,433,195.52. This trade represents a 69.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 133,105 shares of company stock worth $16,869,046. Corporate insiders own 2.02% of the company’s stock.

PACCAR Stock Down 2.6%

PCAR opened at $121.18 on Wednesday. The business’s fifty day simple moving average is $121.37 and its 200 day simple moving average is $108.16. PACCAR Inc. has a 52 week low of $84.65 and a 52 week high of $131.88. The company has a quick ratio of 2.79, a current ratio of 2.98 and a debt-to-equity ratio of 0.55. The stock has a market cap of $63.73 billion, a PE ratio of 26.87, a P/E/G ratio of 1.04 and a beta of 1.03.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The company’s revenue was down 15.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.66 EPS. As a group, research analysts expect that PACCAR Inc. will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is 29.27%.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.