PACCAR Inc (NASDAQ:PCAR) Stock Position Raised by abrdn plc

abrdn plc lifted its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 50.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 264,756 shares of the company’s stock after acquiring an additional 89,359 shares during the quarter. abrdn plc owned 0.05% of PACCAR worth $25,853,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PCAR. Raymond James Financial Services Advisors Inc. boosted its position in shares of PACCAR by 18.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock worth $10,450,000 after buying an additional 16,360 shares during the period. Aigen Investment Management LP acquired a new stake in shares of PACCAR in the third quarter worth $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of PACCAR by 42.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company’s stock worth $47,518,000 after buying an additional 166,628 shares during the period. Pacer Advisors Inc. boosted its position in shares of PACCAR by 29.6% in the fourth quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock worth $7,004,000 after buying an additional 16,390 shares during the period. Finally, Nilsine Partners LLC acquired a new stake in shares of PACCAR in the fourth quarter worth $1,337,000. 64.90% of the stock is owned by institutional investors.

PACCAR Trading Up 0.7 %

PACCAR stock opened at $113.32 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. The business’s 50-day simple moving average is $116.26 and its 200-day simple moving average is $101.43. The firm has a market capitalization of $59.38 billion, a PE ratio of 12.92, a PEG ratio of 1.69 and a beta of 0.92. PACCAR Inc has a 52 week low of $68.40 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The firm had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. During the same period in the previous year, the company posted $1.76 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts forecast that PACCAR Inc will post 8.21 earnings per share for the current year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were paid a $0.27 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.95%. PACCAR’s dividend payout ratio is currently 12.31%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Truist Financial assumed coverage on PACCAR in a research report on Thursday, March 14th. They issued a “hold” rating and a $117.00 target price for the company. The Goldman Sachs Group lifted their price objective on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Royal Bank of Canada assumed coverage on PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price objective for the company. Morgan Stanley assumed coverage on PACCAR in a research report on Monday, January 8th. They set an “overweight” rating and a $125.00 price objective for the company. Finally, TD Cowen lifted their price objective on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a research report on Wednesday, January 24th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, PACCAR has a consensus rating of “Moderate Buy” and an average price target of $110.82.

Insider Activity

In related news, Chairman Mark C. Pigott sold 74,347 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the sale, the chairman now directly owns 4,843,277 shares in the company, valued at approximately $493,675,224.61. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the transaction, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Mark C. Pigott sold 74,347 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total value of $7,578,189.71. Following the completion of the transaction, the chairman now directly owns 4,843,277 shares in the company, valued at approximately $493,675,224.61. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 153,496 shares of company stock worth $15,834,812. Company insiders own 2.02% of the company’s stock.

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.