PACCAR Inc (NASDAQ:PCAR) Shares Bought by Townsquare Capital LLC

Townsquare Capital LLC lifted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 1.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,332 shares of the company’s stock after buying an additional 199 shares during the quarter. Townsquare Capital LLC’s holdings in PACCAR were worth $1,179,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of 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 purchasing an additional 178,813 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of PACCAR during the 3rd quarter worth approximately $370,000. McIlrath & Eck LLC lifted its stake in PACCAR by 16.0% in the 3rd quarter. McIlrath & Eck LLC now owns 28,064 shares of the company’s stock valued at $2,769,000 after buying an additional 3,878 shares in the last quarter. World Investment Advisors LLC acquired a new stake in PACCAR during the 3rd quarter valued at $419,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in PACCAR during the third quarter worth $269,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on PCAR. Morgan Stanley downgraded PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price objective on the stock. in a research report on Wednesday. Evercore ISI decreased their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Truist Financial lowered their price target on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. cut their price target on PACCAR from $121.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $108.59.

PACCAR Trading Up 1.6 %

Shares of PCAR opened at $88.17 on Friday. PACCAR Inc has a twelve month low of $85.10 and a twelve month high of $118.81. The firm has a market capitalization of $46.28 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock’s fifty day simple moving average is $99.45 and its 200 day simple moving average is $105.82.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data 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 year.

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.33 per share. This is an increase from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.50%. The ex-dividend date was Wednesday, February 12th. PACCAR’s payout ratio is currently 16.69%.

Insider Transactions at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Harrie Schippers sold 28,676 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 114,659 shares in the company, valued at approximately $12,150,414.23. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 over the last 90 days. Corporate 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.