Aviva PLC Has $32.80 Million Holdings in PACCAR Inc (NASDAQ:PCAR)

Aviva PLC boosted its position in shares of PACCAR Inc (NASDAQ:PCAR) by 65.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 315,286 shares of the company’s stock after buying an additional 124,996 shares during the period. Aviva PLC owned approximately 0.06% of PACCAR worth $32,796,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PCAR. Principal Financial Group Inc. increased 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 valued at $335,334,000 after acquiring an additional 178,813 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of PACCAR by 3.0% in the 3rd quarter. Janus Henderson Group PLC now owns 65,511 shares of the company’s stock valued at $6,464,000 after purchasing an additional 1,900 shares during the last quarter. IHT Wealth Management LLC acquired a new position in shares of PACCAR during the 3rd quarter worth $297,000. Morse Asset Management Inc acquired a new stake in PACCAR in the third quarter valued at about $370,000. Finally, Stifel Financial Corp grew its position in PACCAR by 6.4% in the third quarter. Stifel Financial Corp now owns 211,861 shares of the company’s stock valued at $20,906,000 after acquiring an additional 12,807 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PCAR. Citigroup reduced 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, March 31st. Evercore ISI dropped their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Melius raised PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. JPMorgan Chase & Co. cut their price target on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Finally, Bank of America raised 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. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.54.

PACCAR Price Performance

PCAR stock opened at $90.88 on Monday. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The firm has a market cap of $47.71 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 2.77 and a beta of 0.96. The company’s fifty day simple moving average is $103.74 and its 200 day simple moving average is $106.71. PACCAR Inc has a 12-month low of $86.74 and a 12-month high of $123.20.

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 analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. On average, analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.45%. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s dividend payout ratio is presently 16.69%.

Insider Transactions at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the company’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 transaction, the executive vice president now owns 61,005 shares in the company, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The sale 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 firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 in the last quarter. 2.02% of the stock is currently owned by company insiders.

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.