2,448,096 Shares in PACCAR Inc (NASDAQ:PCAR) Bought by Madison Investment Advisors LLC

Madison Investment Advisors LLC bought a new position in PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,448,096 shares of the company’s stock, valued at approximately $254,651,000. PACCAR makes up 2.9% of Madison Investment Advisors LLC’s portfolio, making the stock its 3rd largest holding. Madison Investment Advisors LLC owned about 0.47% of PACCAR as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PCAR. Principal Financial Group Inc. lifted its stake in PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after purchasing an additional 178,813 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in PACCAR in the third quarter worth $52,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of PACCAR by 1.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,304,807 shares of the company’s stock valued at $128,758,000 after acquiring an additional 20,155 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of PACCAR by 1.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 79,485 shares of the company’s stock valued at $7,844,000 after acquiring an additional 1,249 shares during the last quarter. Finally, Peak Asset Management LLC raised its stake in shares of PACCAR by 0.9% during the third quarter. Peak Asset Management LLC now owns 138,976 shares of the company’s stock valued at $13,714,000 after acquiring an additional 1,219 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Michael K. Walton sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now owns 951 shares in the company, valued at $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is currently owned by company insiders.

PACCAR Price Performance

Shares of PCAR opened at $98.42 on Friday. The stock has a market cap of $51.65 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The firm’s 50-day simple moving average is $107.29 and its two-hundred day simple moving average is $106.24.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is 16.69%.

Analysts Set New Price Targets

Several brokerages have recently commented on PCAR. JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Evercore ISI lowered their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Citigroup lowered their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.77.

PACCAR Company 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.