Capital Research Global Investors Has $313.30 Million Holdings in PACCAR Inc (NASDAQ:PCAR)

Capital Research Global Investors grew its position in PACCAR Inc (NASDAQ:PCAR) by 21.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,011,888 shares of the company’s stock after purchasing an additional 534,609 shares during the period. Capital Research Global Investors’ holdings in PACCAR were worth $313,297,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its position in PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after purchasing an additional 178,813 shares in the last quarter. Morse Asset Management Inc purchased a new position in shares of PACCAR during the third quarter valued at $370,000. McIlrath & Eck LLC raised its position in PACCAR by 16.0% during the third quarter. McIlrath & Eck LLC now owns 28,064 shares of the company’s stock valued at $2,769,000 after buying an additional 3,878 shares during the period. World Investment Advisors LLC purchased a new stake in PACCAR in the 3rd quarter worth about $419,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in PACCAR in the 3rd quarter worth about $269,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Up 1.6 %

Shares of PCAR stock opened at $88.17 on Friday. The stock’s 50 day simple moving average is $99.09 and its 200 day simple moving average is $105.81. PACCAR Inc has a twelve month low of $85.10 and a twelve month high of $118.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The company has a market capitalization of $46.28 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last released its quarterly 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%. As a group, research analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.50%. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s dividend payout ratio is 16.69%.

Insider Activity

In other news, CFO Harrie Schippers sold 28,676 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at $12,150,414.23. The trade was a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the sale, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PCAR. Melius Research set a $120.00 target price on PACCAR in a report on Tuesday, March 18th. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Truist Financial dropped their price target on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Citigroup lowered their target price on PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus target price of $108.59.

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.