Ilmarinen Mutual Pension Insurance Co Increases Position in PACCAR Inc (NASDAQ:PCAR)

Ilmarinen Mutual Pension Insurance Co raised its position in shares of PACCAR Inc (NASDAQ:PCAR) by 76.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,500 shares of the company’s stock after purchasing an additional 40,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in PACCAR were worth $9,622,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PCAR. Norges Bank purchased a new stake in shares of PACCAR in the 4th quarter valued at $526,922,000. Wellington Management Group LLP boosted its position in PACCAR by 25.0% during the fourth 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 during the period. Madison Investment Advisors LLC bought a new position in shares of PACCAR during the fourth quarter valued at about $254,651,000. JPMorgan Chase & Co. increased its holdings in shares of PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after buying an additional 1,164,692 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of PACCAR by 5.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock valued at $1,119,997,000 after acquiring an additional 572,231 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the transaction, the vice president now directly owns 951 shares in the company, valued at $100,929.63. This trade represents a 86.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s 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 sale, the executive vice president now owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 over the last three months. 2.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PCAR. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Citigroup cut their price target on shares of PACCAR from $112.00 to $105.00 and set a “neutral” rating on the stock in a report on Monday, March 31st. UBS Group downgraded shares of PACCAR from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $124.00 to $108.00 in a research note on Tuesday, March 18th. Finally, Melius raised PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $117.54.

PACCAR Trading Down 1.6 %

NASDAQ:PCAR opened at $90.88 on Friday. PACCAR Inc has a 52 week low of $89.67 and a 52 week high of $123.20. The stock has a market cap of $47.71 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 2.77 and a beta of 0.96. The company’s 50 day moving average price is $103.74 and its 200-day moving average price is $106.63. 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 posted its 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, equities research analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders 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 dividend yield of 1.45%. The ex-dividend date was Wednesday, February 12th. This is an increase from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

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.