PACCAR Inc (NASDAQ:PCAR) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 32.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,980 shares of the company’s stock after buying an additional 7,833 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in PACCAR were worth $3,313,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PCAR. Golden State Wealth Management LLC purchased a new stake in shares of PACCAR in the fourth quarter valued at about $37,000. Kestra Investment Management LLC purchased a new position in PACCAR during the fourth quarter worth about $37,000. Atala Financial Inc purchased a new position in PACCAR during the fourth quarter worth about $43,000. Regents Gate Capital LLP purchased a new position in PACCAR during the fourth quarter worth about $44,000. Finally, OFI Invest Asset Management purchased a new position in PACCAR during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on PCAR shares. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research note on Friday, December 6th. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research note on Tuesday. Melius Research raised shares of PACCAR to a “strong-buy” rating in a research report on Tuesday. Finally, UBS Group cut shares of PACCAR from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $124.00 to $108.00 in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.23.

Insider Buying and Selling at PACCAR

In other PACCAR news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value 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 represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock worth $18,261,908 over the last three months. Insiders own 2.02% of the company’s stock.

PACCAR Stock Down 0.9 %

Shares of NASDAQ:PCAR opened at $100.21 on Wednesday. The firm’s 50 day moving average price is $106.86 and its 200 day moving average price is $106.50. The stock has a market cap of $52.59 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. 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 earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate 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, equities research analysts predict that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $3.00 dividend. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is currently 16.69%.

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.