Adage Capital Partners GP L.L.C. Buys 145,800 Shares of PACCAR Inc (NASDAQ:PCAR)

Adage Capital Partners GP L.L.C. raised its position in shares of PACCAR Inc (NASDAQ:PCAR) by 42.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 489,898 shares of the company’s stock after purchasing an additional 145,800 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in PACCAR were worth $50,959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of PCAR. Meeder Asset Management Inc. grew its stake in shares of PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after acquiring an additional 193 shares during the period. Golden State Wealth Management LLC purchased a new stake in PACCAR during the fourth quarter valued at about $37,000. Kestra Investment Management LLC bought a new position in PACCAR during the fourth quarter worth about $37,000. OFI Invest Asset Management purchased a new position in shares of PACCAR in the fourth quarter worth about $43,000. Finally, Atala Financial Inc bought a new stake in shares of PACCAR in the fourth quarter valued at approximately $43,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Price Performance

PCAR stock opened at $92.68 on Friday. The stock has a market capitalization of $48.65 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 2.77 and a beta of 0.96. The firm’s 50-day moving average price is $97.84 and its two-hundred day moving average price is $105.43. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR Inc has a 12-month low of $85.05 and a 12-month high of $118.81.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, equities analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were paid a $0.33 dividend. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.42%. PACCAR’s dividend payout ratio (DPR) is presently 16.69%.

Insider Activity at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the sale, the vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the transaction, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock worth $18,261,908 over the last quarter. Corporate insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PCAR. Morgan Stanley downgraded shares of PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price objective for the company. in a report on Wednesday, April 16th. Citigroup decreased their price objective on PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Truist Financial reduced their target price on PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Evercore ISI lowered their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus price target of $108.59.

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.