Lindbrook Capital LLC Acquires 478 Shares of PACCAR Inc (NASDAQ:PCAR)

Lindbrook Capital LLC increased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 24.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,429 shares of the company’s stock after purchasing an additional 478 shares during the period. Lindbrook Capital LLC’s holdings in PACCAR were worth $237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Lord Abbett & CO. LLC bought a new position in PACCAR in the third quarter valued at approximately $33,668,000. International Assets Investment Management LLC boosted its stake in PACCAR by 8,388.6% in the 4th quarter. International Assets Investment Management LLC now owns 376,132 shares of the company’s stock worth $36,729,000 after purchasing an additional 371,701 shares during the period. Clarius Group LLC increased its holdings in PACCAR by 52.7% during the 4th quarter. Clarius Group LLC now owns 1,012,755 shares of the company’s stock worth $98,896,000 after purchasing an additional 349,727 shares in the last quarter. Invesco Ltd. raised its stake in shares of PACCAR by 9.9% in the 3rd quarter. Invesco Ltd. now owns 3,645,267 shares of the company’s stock valued at $309,921,000 after purchasing an additional 328,347 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of PACCAR by 6.0% in the third quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock valued at $471,079,000 after purchasing an additional 316,001 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Morgan Stanley initiated coverage on shares of PACCAR in a research report on Monday, January 8th. They issued an “overweight” rating and a $125.00 price objective on the stock. Truist Financial initiated coverage on shares of PACCAR in a research report on Thursday, March 14th. They issued a “hold” rating and a $117.00 target price for the company. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Finally, The Goldman Sachs Group lifted their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Eight investment analysts have rated the stock with 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.82.

PACCAR Stock Up 1.3 %

PCAR stock opened at $112.58 on Tuesday. The business’s 50 day simple moving average is $116.10 and its 200 day simple moving average is $101.25. PACCAR Inc has a 1-year low of $68.40 and a 1-year high of $125.50. The firm has a market capitalization of $58.99 billion, a PE ratio of 12.84, a PEG ratio of 1.67 and a beta of 0.92. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.25 by $0.45. The firm had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.76 earnings per share. As a group, research analysts anticipate that PACCAR Inc will post 8.21 EPS for the current year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 0.96%. PACCAR’s dividend payout ratio (DPR) is currently 12.31%.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares in the company, valued at $607,814.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Harrie Schippers sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $102.27, for a total transaction of $511,350.00. Following the transaction, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at $10,589,751.69. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock worth $15,834,812 over the last three months. Insiders own 2.02% of the company’s stock.

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.