PACCAR Inc (NASDAQ:PCAR) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its holdings in PACCAR Inc (NASDAQ:PCAR) by 7.3% in the 4th quarter, HoldingsChannel reports. The fund owned 7,120 shares of the company’s stock after acquiring an additional 483 shares during the period. Harvest Fund Management Co. Ltd’s holdings in PACCAR were worth $660,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. OFI Invest Asset Management bought a new position in shares of PACCAR during the third quarter worth about $26,000. AdvisorNet Financial Inc increased its stake in shares of PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the period. ST Germain D J Co. Inc. increased its stake in shares of PACCAR by 61.9% during the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock valued at $29,000 after acquiring an additional 130 shares during the period. Arlington Trust Co LLC acquired a new position in shares of PACCAR during the third quarter valued at approximately $30,000. Finally, NBC Securities Inc. acquired a new position in shares of PACCAR during the third quarter valued at approximately $34,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PACCAR

In related news, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.08, for a total value of $3,479,105.76. Following the transaction, the chief financial officer now directly owns 103,547 shares of the company’s stock, valued at approximately $10,984,265.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Harrie Schippers sold 32,797 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the sale, the chief financial officer now owns 103,547 shares of the company’s stock, valued at $10,984,265.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kevin D. Baney sold 7,203 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $103.03, for a total value of $742,125.09. Following the completion of the sale, the senior vice president now owns 6,621 shares of the company’s stock, valued at $682,161.63. The disclosure for this sale can be found here. Insiders sold a total of 153,496 shares of company stock valued at $15,834,812 in the last quarter. 2.02% of the stock is owned by insiders.

PACCAR Stock Performance

PCAR traded up $0.42 during trading on Wednesday, hitting $113.74. 2,598,097 shares of the company traded hands, compared to its average volume of 2,311,537. The firm has a market cap of $59.60 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. The stock’s fifty day moving average is $116.26 and its 200 day moving average is $101.43. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. PACCAR Inc has a one year low of $68.40 and a one year high of $125.50.

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

PACCAR Announces Dividend

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

Analyst Ratings Changes

PCAR has been the subject of a number of research reports. Truist Financial began coverage on shares of PACCAR in a research note on Thursday, March 14th. They set a “hold” rating and a $117.00 target price for the company. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $84.00 to $97.00 in a report on Friday, January 19th. Royal Bank of Canada began coverage on shares of PACCAR in a research report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 price target on the stock. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Finally, Morgan Stanley began coverage on shares of PACCAR in a research report on Monday, January 8th. They set an “overweight” rating and a $125.00 target price on the stock. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.82.

About PACCAR

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.