Massachusetts Financial Services Co. MA Has $1.12 Billion Position in PACCAR Inc. $PCAR

Massachusetts Financial Services Co. MA cut its position in PACCAR Inc. (NASDAQ:PCAR) by 1.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,366,547 shares of the company’s stock after selling 176,609 shares during the period. Massachusetts Financial Services Co. MA’s holdings in PACCAR were worth $1,117,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in PCAR. Hazlett Burt & Watson Inc. lifted its holdings in shares of PACCAR by 53.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Private Wealth Management Group LLC raised its stake in PACCAR by 293.1% in the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 211 shares in the last quarter. Hantz Financial Services Inc. raised its stake in PACCAR by 43.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock worth $42,000 after purchasing an additional 134 shares in the last quarter. Marshall & Sullivan Inc. WA bought a new stake in PACCAR in the 2nd quarter valued at about $43,000. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of PACCAR during the 2nd quarter worth approximately $62,000. Institutional investors own 64.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. UBS Group set a $103.00 price target on shares of PACCAR and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Truist Financial lifted their price objective on PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Wall Street Zen lowered PACCAR from a “hold” rating to a “sell” rating in a report on Saturday. Raymond James Financial restated a “market perform” rating on shares of PACCAR in a research report on Tuesday, October 21st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $90.00 price objective on shares of PACCAR in a research report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.33.

Insider Activity

In related news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the sale, the chief financial officer directly owned 468 shares of the company’s stock, valued at approximately $47,338.20. The trade was a 87.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.02% of the company’s stock.

PACCAR Trading Down 0.5%

Shares of PCAR opened at $121.36 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 3.12. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $122.65. The firm has a market cap of $63.74 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 14.96 and a beta of 1.01. The business’s fifty day moving average is $108.94 and its 200-day moving average is $102.02.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The business had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same quarter in the prior year, the company earned $1.85 earnings per share. PACCAR’s quarterly revenue was down 20.7% compared to the same quarter last year. Equities analysts anticipate that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, February 11th. PACCAR’s dividend payout ratio (DPR) is presently 25.83%.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.