Northern Trust Corp Has $749.19 Million Stock Position in PACCAR Inc (NASDAQ:PCAR)

Northern Trust Corp raised its holdings in PACCAR Inc (NASDAQ:PCAR) by 8.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,202,358 shares of the company’s stock after acquiring an additional 565,967 shares during the period. Northern Trust Corp’s holdings in PACCAR were worth $749,189,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its holdings in shares of PACCAR by 162.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 943,062 shares of the company’s stock worth $98,097,000 after purchasing an additional 583,441 shares in the last quarter. Optiver Holding B.V. bought a new stake in shares of PACCAR during the fourth quarter valued at approximately $67,000. Bellwether Advisors LLC bought a new stake in shares of PACCAR during the fourth quarter valued at approximately $62,000. Johnson Financial Group Inc. increased its position in shares of PACCAR by 145.2% during the fourth quarter. Johnson Financial Group Inc. now owns 33,417 shares of the company’s stock valued at $3,705,000 after purchasing an additional 19,791 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of PACCAR during the fourth quarter valued at approximately $32,643,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of PCAR stock opened at $92.04 on Tuesday. The stock’s fifty day moving average is $97.24 and its 200-day moving average is $105.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The stock has a market capitalization of $48.32 billion, a PE ratio of 11.64, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 52 week low of $85.05 and a 52 week high of $118.81.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Equities research analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is presently 16.69%.

Insider Activity

In other news, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through 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 transaction, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 over the last 90 days. 2.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PCAR shares. Truist Financial lowered their price objective on PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. lowered their price objective on PACCAR from $121.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Morgan Stanley cut 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, April 16th. Finally, Melius Research set a $120.00 price target on PACCAR in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $108.59.

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.