Xponance Inc. Buys 1,146 Shares of PACCAR Inc (NASDAQ:PCAR)

Xponance Inc. raised its position in shares of PACCAR Inc (NASDAQ:PCAR) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,671 shares of the company’s stock after purchasing an additional 1,146 shares during the period. Xponance Inc.’s holdings in PACCAR were worth $6,803,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. grew its position in PACCAR by 18.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock valued at $10,450,000 after acquiring an additional 16,360 shares during the last quarter. Aigen Investment Management LP bought a new stake in PACCAR in the third quarter worth $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in PACCAR by 42.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company’s stock valued at $47,518,000 after buying an additional 166,628 shares during the period. Pacer Advisors Inc. grew its stake in shares of PACCAR by 29.6% during the fourth quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock valued at $7,004,000 after buying an additional 16,390 shares during the last quarter. Finally, Nilsine Partners LLC bought a new stake in shares of PACCAR in the 4th quarter valued at about $1,337,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PCAR. The Goldman Sachs Group raised their price target on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Truist Financial began coverage on PACCAR in a research note on Thursday, March 14th. They set a “hold” rating and a $117.00 target price on the stock. Morgan Stanley started coverage on PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 price target for the company. Finally, Royal Bank of Canada assumed coverage on shares of PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR has a consensus rating of “Moderate Buy” and a consensus price target of $110.82.

PACCAR Trading Down 2.3 %

NASDAQ:PCAR opened at $111.19 on Friday. PACCAR Inc has a one year low of $68.40 and a one year high of $125.50. The company’s 50-day simple moving average is $115.97 and its 200 day simple moving average is $100.85. The firm has a market capitalization of $58.26 billion, a P/E ratio of 12.68, a PEG ratio of 1.71 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The firm had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.48 billion. During the same period in the previous year, the firm posted $1.76 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, analysts forecast that PACCAR Inc will post 8.21 EPS for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.97%. PACCAR’s payout ratio is presently 12.31%.

Insider Activity

In related news, CFO Harrie Schippers sold 5,000 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $102.27, for a total transaction of $511,350.00. Following the sale, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at approximately $10,589,751.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Harrie Schippers sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $102.27, for a total value of $511,350.00. Following the transaction, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at approximately $10,589,751.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total value of $212,300.00. Following the sale, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock worth $15,834,812 over the last three months. 2.02% of the stock is currently owned by corporate insiders.

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.