Natixis Takes $8.95 Million Position in PACCAR Inc (NASDAQ:PCAR)

Natixis purchased a new position in PACCAR Inc (NASDAQ:PCAR) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 86,075 shares of the company’s stock, valued at approximately $8,954,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its holdings in shares of PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after buying an additional 193 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of PACCAR in the 4th quarter valued at about $37,000. Kestra Investment Management LLC purchased a new stake in shares of PACCAR in the fourth quarter worth approximately $37,000. OFI Invest Asset Management acquired a new stake in shares of PACCAR during the fourth quarter worth approximately $43,000. Finally, Atala Financial Inc purchased a new position in PACCAR during the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of PACCAR from $121.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Morgan Stanley downgraded PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target for the company. in a research note on Wednesday, April 16th. Citigroup lowered 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. Truist Financial reduced their target price on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday, April 8th. Finally, Melius Research set a $120.00 price target on shares of PACCAR in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, PACCAR currently has an average rating of “Hold” and a consensus target price of $108.59.

Insider Activity

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now owns 206,129 shares of the company’s stock, valued at $22,876,196.42. This represents a 10.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael K. Walton sold 6,000 shares of PACCAR 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 $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 90 days, insiders sold 165,547 shares of company stock valued at $18,261,908. Insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $88.17 on Monday. The company has a market cap of $46.28 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 2.77 and a beta of 0.96. The business has a 50 day moving average price of $99.09 and a 200 day moving average price of $105.84. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a twelve month low of $85.10 and a twelve month high of $118.81.

PACCAR (NASDAQ:PCAR) last announced 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 return on equity of 23.53% and a net margin of 12.36%. Research analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This is an increase from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.50%. PACCAR’s payout ratio is presently 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.