5,066 Shares in PACCAR Inc (NASDAQ:PCAR) Purchased by Magnetar Financial LLC

Magnetar Financial LLC acquired a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the fourth quarter, Holdings Channel.com reports. The fund acquired 5,066 shares of the company’s stock, valued at approximately $527,000.

A number of other institutional investors have also added to or reduced their stakes in PCAR. Principal Financial Group Inc. lifted its holdings in PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after purchasing an additional 178,813 shares in the last quarter. Quest Partners LLC raised its holdings in shares of PACCAR by 45,433.3% in the 3rd quarter. Quest Partners LLC now owns 2,732 shares of the company’s stock valued at $270,000 after acquiring an additional 2,726 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of PACCAR in the 3rd quarter valued at about $2,157,000. Commerce Bank raised its holdings in shares of PACCAR by 3.7% in the 3rd quarter. Commerce Bank now owns 27,202 shares of the company’s stock valued at $2,684,000 after acquiring an additional 981 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of PACCAR by 80.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 51,987 shares of the company’s stock valued at $5,130,000 after acquiring an additional 23,116 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of PACCAR stock opened at $97.11 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The business’s 50 day simple moving average is $106.29 and its two-hundred day simple moving average is $106.40. The stock has a market capitalization of $50.96 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS 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%. Analysts forecast that PACCAR Inc will post 7.57 EPS for the current 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 paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. PACCAR’s payout ratio is 16.69%.

Insider Activity

In other news, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the transaction, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the transaction, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,547 shares of company stock valued at $18,261,908. Company insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PCAR. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and raised their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price target on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a report on Tuesday. Melius raised PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research report on Friday, December 6th. Finally, Citigroup reduced their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.23.

PACCAR Company Profile

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.