PACCAR Inc (NASDAQ:PCAR) Shares Bought by American Century Companies Inc.

American Century Companies Inc. increased its holdings in PACCAR Inc (NASDAQ:PCAR) by 15.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 631,369 shares of the company’s stock after buying an additional 86,215 shares during the period. American Century Companies Inc.’s holdings in PACCAR were worth $65,675,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PCAR. Principal Financial Group Inc. boosted its stake in PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after acquiring an additional 178,813 shares during the period. Quest Partners LLC grew its stake in PACCAR by 45,433.3% during the 3rd quarter. Quest Partners LLC now owns 2,732 shares of the company’s stock worth $270,000 after buying an additional 2,726 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in PACCAR in the third quarter worth $334,000. Daiwa Securities Group Inc. lifted its stake in PACCAR by 11.9% in the third quarter. Daiwa Securities Group Inc. now owns 99,145 shares of the company’s stock valued at $9,784,000 after buying an additional 10,570 shares during the last quarter. Finally, DRW Securities LLC bought a new stake in PACCAR in the third quarter valued at $659,000. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the transaction, the executive vice president now owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,547 shares of company stock valued at $18,261,908. Corporate insiders own 2.02% of the company’s stock.

PACCAR Trading Up 0.6 %

Shares of PACCAR stock opened at $99.24 on Wednesday. The business has a fifty day simple moving average of $105.88 and a 200-day simple moving average of $106.65. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The firm has a market cap of $52.09 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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 analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were given a $0.33 dividend. This is a positive change 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 annualized dividend and a yield of 1.33%. PACCAR’s payout ratio is 16.69%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PCAR shares. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a report on Friday, December 6th. Citigroup dropped their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Melius raised PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Finally, Truist Financial lifted their target price on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $118.23.

About PACCAR

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.