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:PCARFree Report) 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.

Get Our Latest Stock Analysis on PCAR

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:PCARGet Free Report) 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

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PCAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PACCAR Inc (NASDAQ:PCARFree Report).

Institutional Ownership by Quarter for PACCAR (NASDAQ:PCAR)

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