PACCAR Inc (NASDAQ:PCAR) Stock Position Raised by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 2,259.1% during the fourth quarter, Holdings Channel reports. The firm owned 60,511 shares of the company’s stock after purchasing an additional 57,946 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in PACCAR were worth $6,294,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PCAR. Golden State Wealth Management LLC acquired a new stake in PACCAR during the 4th quarter worth about $37,000. Kestra Investment Management LLC purchased a new position in shares of PACCAR in the fourth quarter worth approximately $37,000. OFI Invest Asset Management acquired a new stake in shares of PACCAR during the fourth quarter valued at approximately $43,000. Regents Gate Capital LLP purchased a new stake in shares of PACCAR in the 4th quarter valued at approximately $44,000. Finally, Larson Financial Group LLC boosted its stake in PACCAR by 39.1% in the 4th quarter. Larson Financial Group LLC now owns 548 shares of the company’s stock worth $57,000 after purchasing an additional 154 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PCAR shares. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a report on Friday, December 6th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Evercore ISI dropped their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Truist Financial raised their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Finally, Citigroup dropped their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $120.35.

PACCAR Stock Performance

Shares of PCAR opened at $99.21 on Friday. The firm has a market cap of $52.07 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company’s fifty day moving average is $107.17 and its 200-day moving average is $106.35. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities analysts expect that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a dividend of $3.00 per share. 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 presently 16.69%.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the sale, the chief executive officer now directly owns 206,129 shares in the company, valued at $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Harrie Schippers sold 28,676 shares of PACCAR stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.97, for a total value of $3,038,795.72. Following the completion of the transaction, the chief financial officer now owns 114,659 shares in the company, valued at $12,150,414.23. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock worth $18,261,908 over the last 90 days. Insiders own 2.02% of the company’s stock.

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.