Geode Capital Management LLC Has $1.28 Billion Position in PACCAR Inc (NASDAQ:PCAR)

Geode Capital Management LLC grew its stake in PACCAR Inc (NASDAQ:PCAR) by 3.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,242,288 shares of the company’s stock after acquiring an additional 362,637 shares during the period. Geode Capital Management LLC’s holdings in PACCAR were worth $1,275,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of PCAR. Principal Financial Group Inc. boosted its holdings in shares of PACCAR by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after acquiring an additional 178,813 shares during the period. Townsquare Capital LLC lifted its holdings in PACCAR by 36.1% during the 3rd quarter. Townsquare Capital LLC now owns 11,133 shares of the company’s stock worth $1,099,000 after purchasing an additional 2,951 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in PACCAR by 13.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 22,850 shares of the company’s stock valued at $2,255,000 after purchasing an additional 2,700 shares during the period. Verition Fund Management LLC grew its holdings in PACCAR by 41.2% in the 3rd quarter. Verition Fund Management LLC now owns 28,960 shares of the company’s stock valued at $2,858,000 after buying an additional 8,457 shares in the last quarter. Finally, Hilltop Holdings Inc. increased its position in PACCAR by 49.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 8,266 shares of the company’s stock worth $816,000 after buying an additional 2,728 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of PACCAR 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 transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael K. Walton sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now directly owns 951 shares of the company’s stock, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock valued at $18,261,908 in the last ninety days. 2.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PCAR has been the topic of several research reports. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research note on Friday, December 6th. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Truist Financial lifted their price target on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Melius raised PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Finally, Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $117.54.

PACCAR Stock Up 0.9 %

Shares of NASDAQ:PCAR opened at $98.29 on Wednesday. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $123.20. The company has a market capitalization of $51.60 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The company has a fifty day moving average of $104.69 and a 200-day moving average of $106.76.

PACCAR (NASDAQ:PCAR) last issued its earnings results 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 return on equity of 23.53% and a net margin of 12.36%. On average, equities analysts predict that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

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

PACCAR 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.