CIBC Asset Management Inc Has $18.73 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

CIBC Asset Management Inc increased its position in PACCAR Inc (NASDAQ:PCAR) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,027 shares of the company’s stock after buying an additional 17,444 shares during the period. CIBC Asset Management Inc’s holdings in PACCAR were worth $18,726,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in PACCAR by 53.3% in the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after acquiring an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of PACCAR by 47.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after purchasing an additional 3,296,146 shares in the last quarter. Fisher Asset Management LLC grew its position in PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after purchasing an additional 89,245 shares during the period. JPMorgan Chase & Co. increased its stake in PACCAR by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after purchasing an additional 1,164,692 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after buying an additional 178,813 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the sale, the chief executive officer now directly owns 206,129 shares in the company, valued at $22,876,196.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,871 shares of company stock valued at $14,586,333. 2.02% of the stock is owned by insiders.

PACCAR Stock Performance

NASDAQ PCAR opened at $105.96 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.39 and a current ratio of 1.67. The company has a market capitalization of $55.55 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 2.79 and a beta of 0.92. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The company has a 50-day simple moving average of $108.32 and a 200 day simple moving average of $104.89.

PACCAR (NASDAQ:PCAR) last posted 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 return on equity of 23.53% and a net margin of 12.36%. On average, research analysts predict that PACCAR Inc will post 7.6 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a dividend of $3.00 per share. This is an increase from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio is presently 15.17%.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a research note on Monday, November 4th. 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 research report on Tuesday, January 14th. Morgan Stanley lowered their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Evercore ISI upgraded shares of PACCAR from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.95.

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.