Townsquare Capital LLC Increases Position in PACCAR Inc (NASDAQ:PCAR)

Townsquare Capital LLC boosted its holdings in PACCAR Inc (NASDAQ:PCAR) by 1.8% in the fourth quarter, HoldingsChannel reports. The firm owned 11,332 shares of the company’s stock after purchasing an additional 199 shares during the period. Townsquare Capital LLC’s holdings in PACCAR were worth $1,179,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of PACCAR by 25.0% during the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock valued at $1,747,408,000 after buying an additional 3,364,650 shares during the last quarter. Geode Capital Management LLC raised its holdings in PACCAR by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company’s stock valued at $1,275,269,000 after acquiring an additional 362,637 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in PACCAR by 5.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock valued at $1,119,997,000 after acquiring an additional 572,231 shares during the last quarter. FMR LLC grew its holdings in PACCAR by 1.9% during the 4th quarter. FMR LLC now owns 8,791,660 shares of the company’s stock worth $914,509,000 after acquiring an additional 167,165 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of PACCAR in the 4th quarter worth about $526,922,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 61,005 shares in the company, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael K. Walton sold 6,000 shares of the business’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 value of $636,780.00. Following the sale, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,547 shares of company stock valued at $18,261,908. 2.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PCAR shares. Citigroup decreased their price target on PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. UBS Group lowered PACCAR from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Melius Research set a $120.00 price target on PACCAR in a research report on Tuesday, March 18th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Finally, Truist Financial dropped their target price on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, PACCAR presently has an average rating of “Hold” and an average target price of $108.59.

PACCAR Trading Up 1.6 %

Shares of NASDAQ:PCAR opened at $88.17 on Friday. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average price is $99.45 and its 200 day moving average price is $105.82. The company has a market cap of $46.28 billion, a PE ratio of 11.15, a P/E/G ratio of 2.77 and a beta of 0.96. PACCAR Inc has a fifty-two week low of $85.10 and a fifty-two week high of $118.81.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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%. Sell-side analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Wednesday, February 12th. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s payout ratio is 16.69%.

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.