PACCAR Inc (NASDAQ:PCAR) Shares Purchased by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC boosted its holdings in PACCAR Inc (NASDAQ:PCAR) by 31.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,762 shares of the company’s stock after buying an additional 1,602 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in PACCAR were worth $703,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PCAR. Wellington Management Group LLP grew its position in PACCAR by 53.3% in the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after buying an additional 4,669,172 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in PACCAR by 47.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after buying an additional 3,296,146 shares during the last quarter. JPMorgan Chase & Co. grew its position in PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after buying an additional 1,164,692 shares during the last quarter. Erste Asset Management GmbH acquired a new position in PACCAR in the third quarter worth approximately $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in PACCAR by 115.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock worth $106,047,000 after buying an additional 576,532 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PCAR. JPMorgan Chase & Co. lifted their price objective on shares of PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. BNP Paribas raised PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Finally, Citigroup reduced their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.23.

PACCAR Stock Down 0.1 %

PCAR opened at $109.90 on Monday. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The business has a 50-day moving average of $110.55 and a 200-day moving average of $104.35. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The company has a market capitalization of $57.62 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.93.

PACCAR Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a dividend of $3.00 per share. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio is currently 14.75%.

Insider Activity

In other news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the transaction, the chief executive officer now owns 171,776 shares of the company’s stock, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.02% of the stock is currently owned by insiders.

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.