25,741 Shares in PACCAR Inc (NASDAQ:PCAR) Bought by Allianz SE

Allianz SE acquired a new stake in shares of PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 25,741 shares of the company’s stock, valued at approximately $2,667,000.

Several other institutional investors have also modified their holdings of PCAR. Everence Capital Management Inc. purchased a new position in PACCAR in the 4th quarter valued at about $1,984,000. Cullen Frost Bankers Inc. lifted its position in shares of PACCAR by 8.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after acquiring an additional 6,494 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of PACCAR by 24.3% in the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after acquiring an additional 5,871 shares during the last quarter. Insight Wealth Strategies LLC raised its stake in PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after purchasing an additional 6,936 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in PACCAR by 19.3% in the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the company’s stock valued at $138,000 after purchasing an additional 214 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Buying and Selling at PACCAR

In related news, VP Todd R. Hubbard sold 2,000 shares of PACCAR 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 completion of the transaction, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the sale, the chief executive officer now owns 206,129 shares in the company, valued at approximately $22,876,196.42. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 in the last three months. 2.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Melius Research set a $120.00 target price on shares of PACCAR in a research report on Tuesday, March 18th. Evercore ISI cut their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. UBS Group cut PACCAR from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $124.00 to $108.00 in a report on Tuesday, March 18th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Truist Financial boosted their price objective on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.38.

PACCAR Price Performance

PACCAR stock opened at $96.91 on Friday. The company’s 50 day simple moving average is $105.19 and its 200-day simple moving average is $106.64. 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 1 year low of $90.04 and a 1 year high of $124.39. The company has a market capitalization of $50.87 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, equities research analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.36%. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s dividend payout ratio (DPR) is 16.69%.

PACCAR 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.