Massachusetts Financial Services Co. MA Boosts Stake in PACCAR Inc (NASDAQ:PCAR)

Massachusetts Financial Services Co. MA lifted its position in PACCAR Inc (NASDAQ:PCAR) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,767,134 shares of the company’s stock after purchasing an additional 572,231 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.05% of PACCAR worth $1,119,997,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PCAR. Madrona Financial Services LLC increased its stake in PACCAR by 1.1% in the fourth quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock valued at $837,000 after purchasing an additional 91 shares during the period. Global Financial Private Client LLC increased its position in PACCAR by 1.0% in the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock valued at $1,011,000 after acquiring an additional 97 shares during the period. PDS Planning Inc raised its stake in PACCAR by 3.7% during the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock valued at $292,000 after acquiring an additional 101 shares during the last quarter. Valley National Advisers Inc. lifted its position in PACCAR by 0.6% during the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock worth $1,982,000 after acquiring an additional 106 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of PACCAR by 14.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company’s stock valued at $88,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling

In other PACCAR news, EVP Darrin C. Siver sold 103,671 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s 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 completion of the transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,547 shares of company stock worth $18,261,908. 2.02% of the stock is owned by corporate insiders.

PACCAR Stock Performance

Shares of PCAR opened at $98.29 on Wednesday. The company has a 50-day moving average of $104.69 and a two-hundred day moving average of $106.76. The stock has a market cap of $51.60 billion, a P/E ratio of 12.43, a PEG ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $123.20. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last issued 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%. As a group, research analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.34%. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. UBS Group cut PACCAR from a “buy” rating to a “neutral” rating and cut their price target for the stock from $124.00 to $108.00 in a research note on Tuesday, March 18th. Evercore ISI reduced their target price 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 dropped their price target on shares of PACCAR from $112.00 to $105.00 and set a “neutral” rating on the stock in a research note on Monday. 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 report on Friday, December 6th. Finally, JPMorgan Chase & Co. dropped their target price on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.54.

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.