PACCAR Inc. $PCAR Shares Purchased by American Century Companies Inc.

American Century Companies Inc. boosted its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 235.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,540,688 shares of the company’s stock after purchasing an additional 1,784,236 shares during the period. American Century Companies Inc. owned approximately 0.48% of PACCAR worth $249,801,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in PACCAR by 0.8% in the third quarter. Vanguard Group Inc. now owns 63,111,444 shares of the company’s stock valued at $6,205,117,000 after acquiring an additional 485,678 shares during the last quarter. State Street Corp raised its holdings in shares of PACCAR by 1.0% in the 2nd quarter. State Street Corp now owns 22,534,596 shares of the company’s stock worth $2,142,139,000 after purchasing an additional 218,188 shares during the period. Geode Capital Management LLC lifted its stake in shares of PACCAR by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 12,455,453 shares of the company’s stock valued at $1,184,112,000 after purchasing an additional 159,632 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of PACCAR by 25.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock worth $551,211,000 after purchasing an additional 1,165,443 shares during the period. Finally, Invesco Ltd. increased its position in PACCAR by 5.0% during the 2nd quarter. Invesco Ltd. now owns 5,212,386 shares of the company’s stock worth $495,489,000 after purchasing an additional 246,410 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PCAR has been the topic of a number of recent research reports. Truist Financial lifted their price target on shares of PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday, January 28th. Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a report on Tuesday. Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Morgan Stanley set a $109.00 price target on PACCAR and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Finally, Wells Fargo & Company set a $119.00 price objective on PACCAR and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $116.50.

Insider Activity

In other news, CFO Brice J. Poplawski sold 2,200 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $130.41, for a total value of $286,902.00. Following the completion of the sale, the chief financial officer directly owned 903 shares in the company, valued at approximately $117,760.23. The trade was a 70.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kevin D. Baney sold 9,672 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $126.53, for a total value of $1,223,798.16. Following the transaction, the executive vice president owned 12,592 shares in the company, valued at $1,593,265.76. This trade represents a 43.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 133,105 shares of company stock valued at $16,869,046 over the last three months. Company insiders own 2.02% of the company’s stock.

PACCAR Stock Up 1.6%

Shares of NASDAQ:PCAR opened at $126.09 on Friday. The firm has a market cap of $66.31 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 1.06 and a beta of 1.03. The company has a fifty day simple moving average of $120.95 and a 200 day simple moving average of $107.77. The company has a current ratio of 2.98, a quick ratio of 2.79 and a debt-to-equity ratio of 0.55. PACCAR Inc. has a 12-month low of $84.65 and a 12-month high of $131.88.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.06 billion. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The firm’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period last year, the business earned $1.66 EPS. On average, equities research analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s payout ratio is currently 29.27%.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.