SageView Advisory Group LLC Makes New $320,000 Investment in PACCAR Inc (NASDAQ:PCAR)

SageView Advisory Group LLC acquired a new stake in PACCAR Inc (NASDAQ:PCARFree Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 3,136 shares of the company’s stock, valued at approximately $320,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in PACCAR in the fourth quarter worth about $448,288,000. International Assets Investment Management LLC grew its position in shares of 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 buying an additional 371,701 shares during the period. Clarius Group LLC raised its stake in shares of PACCAR by 52.7% during the fourth quarter. Clarius Group LLC now owns 1,012,755 shares of the company’s stock worth $98,896,000 after buying an additional 349,727 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in PACCAR by 40.1% in the fourth quarter. Panagora Asset Management Inc. now owns 1,196,277 shares of the company’s stock valued at $116,816,000 after buying an additional 342,212 shares during the period. Finally, Invesco Ltd. boosted its stake in PACCAR by 9.9% in 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. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Stock Performance

PCAR opened at $109.43 on Tuesday. The company has a market capitalization of $57.36 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 1.69 and a beta of 0.96. The business’s 50-day moving average price is $114.23 and its two-hundred day moving average price is $105.40. PACCAR Inc has a 1 year low of $68.40 and a 1 year high of $125.50. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49.

PACCAR (NASDAQ:PCARGet Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. PACCAR’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.25 EPS. Equities analysts expect that PACCAR Inc will post 8.26 EPS for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be given a $0.30 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.10%. This is an increase from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio (DPR) is 12.45%.

Analysts Set New Price Targets

PCAR has been the subject of several recent research reports. Truist Financial reiterated a “hold” rating and set a $121.00 target price (up previously from $117.00) on shares of PACCAR in a research report on Thursday, May 2nd. Royal Bank of Canada initiated coverage on PACCAR in a research note on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price on the stock. The Goldman Sachs Group boosted their target price on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. cut their price target on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $104.00 to $136.00 in a report on Friday, March 15th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and an average price target of $112.62.

Read Our Latest Research Report on PCAR

Insider Buying and Selling at PACCAR

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

PACCAR Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

Receive News & Ratings for PACCAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR and related companies with MarketBeat.com's FREE daily email newsletter.