UBS Asset Management Americas Inc. raised its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,274,143 shares of the company’s stock after acquiring an additional 46,547 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.37% of PACCAR worth $109,933,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PCAR. Price T Rowe Associates Inc. MD raised its position in shares of PACCAR by 1.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,196,071 shares of the company’s stock worth $793,408,000 after acquiring an additional 150,093 shares in the last quarter. Principal Financial Group Inc. raised its holdings in PACCAR by 5.2% in the fourth quarter. Principal Financial Group Inc. now owns 3,672,559 shares of the company’s stock worth $316,869,000 after purchasing an additional 182,352 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of PACCAR by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,335,675 shares of the company’s stock valued at $287,790,000 after buying an additional 24,970 shares during the last quarter. Boston Partners lifted its position in shares of PACCAR by 1.1% during the fourth quarter. Boston Partners now owns 1,903,949 shares of the company’s stock valued at $164,273,000 after buying an additional 21,145 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of PACCAR by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,591,245 shares of the company’s stock valued at $137,293,000 after buying an additional 17,821 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.
Shares of PCAR opened at $92.47 on Thursday. The business’s 50-day moving average is $94.16 and its two-hundred day moving average is $90.40. The company has a market capitalization of $32.10 billion, a P/E ratio of 22.55, a P/E/G ratio of 1.62 and a beta of 1.00. PACCAR Inc has a fifty-two week low of $64.25 and a fifty-two week high of $103.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.95 and a current ratio of 3.14.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Monday, January 25th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.05). The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.15 billion. PACCAR had a return on equity of 14.49% and a net margin of 7.39%. The firm’s revenue was down 9.0% on a year-over-year basis. During the same period last year, the business earned $1.53 earnings per share. Analysts forecast that PACCAR Inc will post 3.76 EPS for the current year.
A number of equities research analysts recently commented on PCAR shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PACCAR from $92.00 to $91.00 and set a “hold” rating for the company in a research report on Thursday, April 1st. Zacks Investment Research lowered PACCAR from a “strong-buy” rating to a “hold” rating and set a $89.00 price objective for the company. in a report on Tuesday, December 15th. Wolfe Research cut PACCAR from a “market perform” rating to an “underperform” rating in a research report on Thursday, January 7th. Vertical Research assumed coverage on PACCAR in a research report on Wednesday, January 20th. They set a “hold” rating and a $95.00 target price on the stock. Finally, Morgan Stanley raised their price target on PACCAR from $96.00 to $102.00 and gave the stock an “equal weight” rating in a report on Friday, January 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $95.43.
In other PACCAR news, CEO R Preston Feight sold 3,288 shares of the firm’s stock in a transaction that occurred on Friday, January 29th. The stock was sold at an average price of $89.81, for a total value of $295,295.28. Following the sale, the chief executive officer now directly owns 21,606 shares of the company’s stock, valued at $1,940,434.86. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Michael K. Walton sold 1,688 shares of the business’s stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $97.22, for a total value of $164,107.36. Following the completion of the sale, the vice president now owns 40,401 shares of the company’s stock, valued at $3,927,785.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,150 shares of company stock valued at $2,540,164. 2.18% of the stock is owned by company insiders.
PACCAR, Inc is a global technology company, which engages in the design and manufacture of light, medium, and heavy-duty trucks. It operates through the following segments: Truck, Parts and Financial Services. The Truck segment designs and manufactures heavy, medium, and light duty diesel trucks which are marketed under the Kenworth, Peterbilt, and DAF brands.
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