LMR Partners LLP Buys Shares of 28,476 PACCAR Inc (NASDAQ:PCAR)

LMR Partners LLP bought a new stake in shares of PACCAR Inc (NASDAQ:PCAR) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 28,476 shares of the company’s stock, valued at approximately $2,962,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of PACCAR in the 4th quarter valued at approximately $526,922,000. Kovitz Investment Group Partners LLC boosted its position in PACCAR by 370.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company’s stock worth $557,453,000 after purchasing an additional 4,219,964 shares during the period. Wellington Management Group LLP boosted its position in PACCAR by 25.0% during the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock worth $1,747,408,000 after purchasing an additional 3,364,650 shares during the period. Madison Investment Advisors LLC bought a new stake in PACCAR during the fourth quarter worth approximately $254,651,000. Finally, JPMorgan Chase & Co. boosted its position in PACCAR by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after purchasing an additional 1,164,692 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Activity at PACCAR

In related news, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the transaction, the director now directly owns 13,015 shares of the company’s stock, valued at approximately $1,168,486.70. The trade was a 62.38% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now owns 951 shares in the company, valued at $100,929.63. This trade represents a 86.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on PCAR. Royal Bank of Canada decreased their target price on PACCAR from $106.00 to $97.00 and set a “sector perform” rating for the company in a research report on Thursday, May 8th. Melius Research set a $120.00 target price on PACCAR in a research report on Tuesday, March 18th. JPMorgan Chase & Co. cut PACCAR from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. Truist Financial decreased their target price on PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. Finally, Evercore ISI decreased their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and a consensus target price of $105.23.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $96.26 on Wednesday. The business has a fifty day simple moving average of $94.10 and a 200 day simple moving average of $104.08. 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 has a market capitalization of $50.53 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 2.77 and a beta of 0.96. PACCAR Inc has a one year low of $84.65 and a one year high of $118.81.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). The firm had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The business’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.27 earnings per share. Sell-side analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.37%. PACCAR’s payout ratio is 20.00%.

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.