Ilmarinen Mutual Pension Insurance Co Raises Position in PACCAR Inc (NASDAQ:PCAR)

Ilmarinen Mutual Pension Insurance Co lifted its stake in PACCAR Inc (NASDAQ:PCAR) by 76.2% in the 4th quarter, HoldingsChannel reports. The firm owned 92,500 shares of the company’s stock after acquiring an additional 40,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in PACCAR were worth $9,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Aviva PLC raised its stake in PACCAR by 65.7% during the 4th quarter. Aviva PLC now owns 315,286 shares of the company’s stock worth $32,796,000 after acquiring an additional 124,996 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in shares of PACCAR in the fourth quarter worth $15,958,000. World Investment Advisors raised its position in shares of PACCAR by 5.8% during the 4th quarter. World Investment Advisors now owns 4,490 shares of the company’s stock valued at $467,000 after purchasing an additional 246 shares during the period. Nicolet Advisory Services LLC boosted its holdings in PACCAR by 3.7% in the 4th quarter. Nicolet Advisory Services LLC now owns 3,502 shares of the company’s stock worth $373,000 after buying an additional 125 shares during the period. Finally, Huntington National Bank increased its stake in PACCAR by 126.8% in the 4th quarter. Huntington National Bank now owns 2,386 shares of the company’s stock worth $248,000 after buying an additional 1,334 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PCAR shares. UBS Group downgraded PACCAR from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $124.00 to $108.00 in a research report on Tuesday, March 18th. JPMorgan Chase & Co. dropped their price target on PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Evercore ISI reduced their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Truist Financial upped their target price on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Finally, Melius Research set a $120.00 price target on shares of PACCAR in a report on Tuesday, March 18th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.54.

Insider Transactions at PACCAR

In related news, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the sale, the vice president now directly owns 951 shares of the company’s stock, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the transaction, the executive vice president now 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by insiders.

PACCAR Stock Down 1.6 %

Shares of NASDAQ PCAR opened at $90.88 on Friday. The stock has a market capitalization of $47.71 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 12-month low of $89.67 and a 12-month high of $123.20. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average price is $103.74 and its 200-day moving average price is $106.63.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, equities research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.45%. This is an increase from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is currently 16.69%.

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.