Ethic Inc. Purchases 12,188 Shares of PACCAR Inc (NASDAQ:PCAR)

Ethic Inc. boosted its position in PACCAR Inc (NASDAQ:PCAR) by 11.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 114,662 shares of the company’s stock after acquiring an additional 12,188 shares during the period. Ethic Inc.’s holdings in PACCAR were worth $11,927,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PCAR. Wellington Management Group LLP lifted its stake in shares of PACCAR by 25.0% during the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after buying an additional 3,364,650 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of PACCAR by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company’s stock worth $1,275,269,000 after acquiring an additional 362,637 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of PACCAR by 5.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock valued at $1,119,997,000 after purchasing an additional 572,231 shares in the last quarter. FMR LLC grew its position in shares of PACCAR by 1.9% in the fourth quarter. FMR LLC now owns 8,791,660 shares of the company’s stock valued at $914,509,000 after purchasing an additional 167,165 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in PACCAR by 8.5% during the 4th quarter. Northern Trust Corp now owns 7,202,358 shares of the company’s stock worth $749,189,000 after purchasing an additional 565,967 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PCAR. UBS Group cut PACCAR from a “neutral” rating to a “sell” rating and decreased their price target for the company from $108.00 to $78.00 in a research report on Monday, April 7th. JPMorgan Chase & Co. cut shares of PACCAR from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $105.00 to $90.00 in a research note on Wednesday, April 30th. Truist Financial reduced their price target on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. Evercore ISI lowered their price objective on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, StockNews.com upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $105.23.

PACCAR Price Performance

Shares of PACCAR stock opened at $91.55 on Friday. The business’s 50-day moving average price is $94.67 and its 200-day moving average price is $104.30. The firm has a market capitalization of $48.06 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 12 month low of $84.65 and a 12 month high of $118.81. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the previous year, the business earned $2.27 earnings per share. The firm’s revenue was down 16.0% on a year-over-year basis. Sell-side analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.44%. PACCAR’s payout ratio is 20.00%.

Insider Activity

In related news, CFO Harrie Schippers sold 28,676 shares of the firm’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 transaction, the chief financial officer now directly owns 114,659 shares in the company, valued at $12,150,414.23. This trade represents a 20.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pierre R. Breber purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was bought at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the purchase, the director now directly owns 13,015 shares in the company, valued at approximately $1,168,486.70. This trade represents a 62.38 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.02% of the company’s stock.

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.