Meeder Asset Management Inc. Boosts Holdings in PACCAR Inc. $PCAR

Meeder Asset Management Inc. lifted its stake in shares of PACCAR Inc. (NASDAQ:PCAR) by 13,936.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,685 shares of the company’s stock after buying an additional 9,616 shares during the quarter. Meeder Asset Management Inc.’s holdings in PACCAR were worth $952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Citizens Financial Group Inc. RI boosted its position in PACCAR by 12.2% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 5,418 shares of the company’s stock valued at $533,000 after acquiring an additional 587 shares in the last quarter. Bayforest Capital Ltd bought a new stake in shares of PACCAR during the third quarter valued at approximately $140,000. ORG Partners LLC grew its stake in PACCAR by 7,030.0% in the third quarter. ORG Partners LLC now owns 31,087 shares of the company’s stock worth $3,056,000 after purchasing an additional 30,651 shares during the period. MASTERINVEST Kapitalanlage GmbH bought a new position in PACCAR in the third quarter worth $209,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in PACCAR by 19.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 86,645 shares of the company’s stock worth $8,519,000 after purchasing an additional 13,808 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Brice J. Poplawski sold 3,369 shares of the stock in a transaction on Monday, October 27th. The stock was 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 $47,338.20. This trade represents a 87.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.02% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Citigroup reissued a “neutral” rating and set a $115.00 price target (up from $105.00) on shares of PACCAR in a research report on Thursday, December 11th. Truist Financial upped their price objective on shares of PACCAR from $97.00 to $108.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. UBS Group set a $103.00 target price on shares of PACCAR and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Wolfe Research raised PACCAR from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, PACCAR has an average rating of “Moderate Buy” and an average target price of $111.04.

PACCAR Trading Up 0.5%

Shares of NASDAQ PCAR opened at $118.80 on Monday. The firm’s 50 day moving average price is $106.78 and its 200-day moving average price is $101.21. PACCAR Inc. has a 52-week low of $84.65 and a 52-week high of $119.21. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 3.12. The company has a market cap of $62.39 billion, a PE ratio of 23.25, a P/E/G ratio of 14.78 and a beta of 1.01.

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 analysts’ consensus estimates of $1.14 by ($0.02). The firm had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $6.23 billion. PACCAR had a return on equity of 16.01% and a net margin of 9.11%.PACCAR’s revenue was down 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.85 earnings per share. On average, equities research analysts expect that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The firm 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. The ex-dividend date is Wednesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.1%. PACCAR’s payout ratio is currently 25.83%.

PACCAR Company Profile

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.