15,425 Shares in PACCAR Inc (NASDAQ:PCAR) Acquired by Allstate Corp

Allstate Corp purchased a new stake in shares of PACCAR Inc (NASDAQ:PCAR) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 15,425 shares of the company’s stock, valued at approximately $1,605,000.

Several other institutional investors also recently bought and sold shares of PCAR. Norges Bank purchased a new position in shares of PACCAR in the 4th quarter valued at $526,922,000. Wellington Management Group LLP raised its position in PACCAR by 53.3% in the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after purchasing an additional 4,669,172 shares during the period. Madison Investment Advisors LLC acquired a new position in shares of PACCAR during the fourth quarter worth about $254,651,000. JPMorgan Chase & Co. boosted its position in shares of PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after buying an additional 1,164,692 shares during the period. Finally, Erste Asset Management GmbH acquired a new stake in shares of PACCAR in the third quarter valued at about $63,186,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PACCAR

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. The trade was a 86.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was 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 owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock worth $18,261,908 in the last 90 days. 2.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PCAR has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price target on PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Melius Research set a $120.00 target price on shares of PACCAR in a research note on Tuesday, March 18th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Evercore ISI lowered their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, 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. Eight 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.38.

PACCAR Stock Down 1.3 %

PCAR stock opened at $96.91 on Monday. The firm has a market cap of $50.87 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $124.39. The firm has a fifty day moving average price of $105.19 and a two-hundred day moving average price of $106.72. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data 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 return on equity of 23.53% and a net margin of 12.36%. Research analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were issued a $0.33 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.36%. PACCAR’s dividend payout ratio (DPR) is 16.69%.

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.