Rafferty Asset Management LLC Has $17.79 Million Holdings in PACCAR Inc (NASDAQ:PCAR)

Rafferty Asset Management LLC lifted its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 5.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 171,010 shares of the company’s stock after purchasing an additional 8,396 shares during the quarter. Rafferty Asset Management LLC’s holdings in PACCAR were worth $17,788,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PCAR. Norges Bank acquired a new position in shares of PACCAR during the fourth quarter worth $526,922,000. Kovitz Investment Group Partners LLC increased its holdings in shares of 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 buying an additional 4,219,964 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of 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 buying an additional 3,364,650 shares in the last quarter. Madison Investment Advisors LLC acquired a new position in shares of PACCAR during the fourth quarter worth $254,651,000. Finally, JPMorgan Chase & Co. increased its holdings in PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after purchasing an additional 1,164,692 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on PCAR shares. StockNews.com upgraded PACCAR from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Truist Financial decreased their price objective on PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. UBS Group downgraded PACCAR from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $108.00 to $78.00 in a report on Monday, April 7th. Citigroup decreased their price objective on PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. downgraded PACCAR from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $105.00 to $90.00 in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $105.23.

PACCAR Stock Performance

Shares of PACCAR stock opened at $95.97 on Friday. 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 business has a 50-day moving average price of $93.50 and a two-hundred day moving average price of $103.93. PACCAR Inc has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a market cap of $50.38 billion, a P/E ratio of 12.13, a PEG ratio of 2.77 and a beta of 0.96.

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

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a yield of 1.38%. PACCAR’s payout ratio is currently 20.00%.

Insider Transactions at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now owns 951 shares of the company’s stock, valued at $100,929.63. This represents a 86.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Pierre R. Breber acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were bought at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the transaction, the director now directly owns 13,015 shares in the company, valued at approximately $1,168,486.70. This represents a 62.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.02% of the company’s stock.

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.