The Manufacturers Life Insurance Company Raises Holdings in PACCAR Inc (NASDAQ:PCAR)

The Manufacturers Life Insurance Company grew its position in shares of PACCAR Inc (NASDAQ:PCAR) by 162.2% in the fourth quarter, HoldingsChannel reports. The firm owned 943,062 shares of the company’s stock after buying an additional 583,441 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in PACCAR were worth $98,097,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its position in shares of PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after purchasing an additional 193 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of PACCAR during the fourth quarter valued at about $37,000. Kestra Investment Management LLC purchased a new position in shares of PACCAR during the fourth quarter valued at about $37,000. Atala Financial Inc purchased a new position in shares of PACCAR during the fourth quarter valued at about $43,000. Finally, Regents Gate Capital LLP purchased a new position in shares of PACCAR during the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Trading Up 0.2 %

PCAR opened at $92.04 on Tuesday. The stock has a market cap of $48.32 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 2.77 and a beta of 0.96. The stock’s 50 day moving average price is $97.24 and its 200-day moving average price is $105.27. PACCAR Inc has a one year low of $85.05 and a one year high of $118.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54.

PACCAR (NASDAQ:PCAR) last released 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 net margin of 12.36% and a return on equity of 23.53%. On average, equities analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were issued a $0.33 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.43%. PACCAR’s payout ratio is presently 16.69%.

Analyst Ratings Changes

Several research firms recently commented on PCAR. Bank of America upgraded 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 report on Tuesday, January 14th. Citigroup dropped their price target on PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Morgan Stanley lowered PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target for the company. in a research report on Wednesday, April 16th. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Finally, UBS Group lowered PACCAR from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $108.59.

Insider Activity at PACCAR

In related news, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction that occurred on 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. The trade was a 62.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares of the company’s stock, valued at $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,547 shares of company stock worth $18,261,908. Company insiders own 2.02% of the company’s stock.

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.