5,551 Shares in PACCAR Inc (NASDAQ:PCAR) Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC purchased a new position in PACCAR Inc (NASDAQ:PCAR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,551 shares of the company’s stock, valued at approximately $542,000.

Other large investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its holdings in shares of PACCAR by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock valued at $730,116,000 after acquiring an additional 23,865 shares during the last quarter. Northern Trust Corp raised its holdings in shares of PACCAR by 6.0% during the third quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock valued at $471,079,000 after acquiring an additional 316,001 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of PACCAR by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock valued at $480,104,000 after acquiring an additional 89,984 shares during the last quarter. Norges Bank acquired a new position in shares of PACCAR during the fourth quarter valued at approximately $448,288,000. Finally, Invesco Ltd. raised its holdings in shares of PACCAR by 9.9% during the third quarter. Invesco Ltd. now owns 3,645,267 shares of the company’s stock valued at $309,921,000 after acquiring an additional 328,347 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Evercore ISI increased their target price on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Royal Bank of Canada started coverage on PACCAR in a research report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target for the company. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the company from $104.00 to $136.00 in a research report on Friday, March 15th. JPMorgan Chase & Co. dropped their price target on PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Finally, Truist Financial restated a “hold” rating and issued a $121.00 price target (up from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.62.

PACCAR Trading Up 0.5 %

Shares of PACCAR stock opened at $109.43 on Monday. The firm has a market capitalization of $57.36 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 1.69 and a beta of 0.96. PACCAR Inc has a fifty-two week low of $68.40 and a fifty-two week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.49 and a current ratio of 2.73. The stock has a 50 day moving average of $114.45 and a 200 day moving average of $105.23.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.25 billion. During the same period in the prior year, the business posted $2.25 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts predict that PACCAR Inc will post 8.26 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.30 per share. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Tuesday, May 14th. PACCAR’s dividend payout ratio (DPR) is currently 12.45%.

Insider Transactions at PACCAR

In other news, VP Brice J. Poplawski sold 2,067 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Michael K. Walton sold 9,123 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the sale, the vice president now directly owns 1,468 shares in the company, valued at $154,301.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Brice J. Poplawski sold 2,067 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. Insiders sold a total of 45,040 shares of company stock worth $4,779,241 over the last ninety days. Company insiders own 2.02% of the company’s stock.

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.