PACCAR Inc (NASDAQ:PCAR) Holdings Increased by First Washington CORP

First Washington CORP increased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 370,889 shares of the company’s stock after purchasing an additional 18,800 shares during the quarter. PACCAR accounts for 13.6% of First Washington CORP’s portfolio, making the stock its biggest holding. First Washington CORP owned about 0.07% of PACCAR worth $38,580,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PCAR. Principal Financial Group Inc. increased its holdings in PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after buying an additional 178,813 shares during the last quarter. Morse Asset Management Inc bought a new position in PACCAR in the 3rd quarter worth $370,000. McIlrath & Eck LLC grew its holdings in PACCAR by 16.0% during the third quarter. McIlrath & Eck LLC now owns 28,064 shares of the company’s stock valued at $2,769,000 after purchasing an additional 3,878 shares during the period. World Investment Advisors LLC purchased a new stake in PACCAR in the third quarter worth about $419,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of PACCAR during the 3rd quarter valued at about $269,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on PCAR shares. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Evercore ISI lowered their target price 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. Citigroup cut their price target on PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Morgan Stanley lowered PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price objective for the company. in a research note on Wednesday. Finally, Truist Financial lowered their price target on PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $108.59.

Insider Activity

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now owns 951 shares in the company, valued at $100,929.63. This trade represents a 86.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by insiders.

PACCAR Trading Up 1.6 %

PCAR stock opened at $88.17 on Friday. The firm has a market cap of $46.28 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The firm has a fifty day moving average price of $99.09 and a 200 day moving average price of $105.76. 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 Inc has a fifty-two week low of $85.10 and a fifty-two week high of $118.81.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. Sell-side analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a $0.33 dividend. This is a boost 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 1.50%. PACCAR’s payout ratio is 16.69%.

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.