PACCAR Inc (NASDAQ:PCAR) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. grew its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 125.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,643 shares of the company’s stock after acquiring an additional 4,810 shares during the quarter. Federated Hermes Inc.’s holdings in PACCAR were worth $844,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PCAR. Lord Abbett & CO. LLC acquired a new position in PACCAR during the 3rd quarter worth $33,668,000. International Assets Investment Management LLC boosted its position in PACCAR by 8,388.6% during the 4th quarter. International Assets Investment Management LLC now owns 376,132 shares of the company’s stock worth $36,729,000 after acquiring an additional 371,701 shares during the period. Clarius Group LLC boosted its position in PACCAR by 52.7% during the 4th quarter. Clarius Group LLC now owns 1,012,755 shares of the company’s stock worth $98,896,000 after acquiring an additional 349,727 shares during the period. Invesco Ltd. boosted its position in PACCAR by 9.9% during the 3rd quarter. Invesco Ltd. now owns 3,645,267 shares of the company’s stock worth $309,921,000 after acquiring an additional 328,347 shares during the period. Finally, Northern Trust Corp boosted its position in PACCAR by 6.0% during the 3rd quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock worth $471,079,000 after acquiring an additional 316,001 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Up 0.2 %

Shares of PACCAR stock opened at $106.34 on Thursday. The stock’s fifty day moving average is $116.62 and its 200-day moving average is $102.36. The firm has a market capitalization of $55.72 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.71 and a beta of 0.92. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. PACCAR Inc has a 12-month low of $68.40 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. PACCAR’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.25 earnings per share. Equities analysts anticipate that PACCAR Inc will post 8.21 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.30 per share. This is an increase from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. PACCAR’s payout ratio is currently 12.31%.

Insider Activity

In other news, CEO R Preston Feight sold 27,320 shares of PACCAR stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $103.17, for a total transaction of $2,818,604.40. Following the transaction, the chief executive officer now owns 145,495 shares in the company, valued at $15,010,719.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Harrie Schippers sold 32,797 shares of PACCAR stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the transaction, the chief financial officer now owns 103,547 shares in the company, valued at $10,984,265.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R Preston Feight sold 27,320 shares of PACCAR stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $103.17, for a total value of $2,818,604.40. Following the transaction, the chief executive officer now owns 145,495 shares in the company, valued at approximately $15,010,719.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,117 shares of company stock worth $6,510,010. 2.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PCAR has been the subject of a number of analyst reports. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Truist Financial began coverage on PACCAR in a research note on Thursday, March 14th. They issued a “hold” rating and a $117.00 price objective on the stock. TD Cowen boosted their price objective on PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. Morgan Stanley began coverage on PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 price objective on the stock. Finally, Evercore ISI boosted their price objective on PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $112.31.

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.