PACCAR Inc (NASDAQ:PCAR) Shares Bought by Korea Investment CORP

Korea Investment CORP grew its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 52.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 343,238 shares of the company’s stock after acquiring an additional 117,913 shares during the period. Korea Investment CORP’s holdings in PACCAR were worth $35,704,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PCAR. Golden State Wealth Management LLC purchased a new stake in shares of PACCAR in the 4th quarter worth about $37,000. Kestra Investment Management LLC purchased a new stake in shares of PACCAR in the fourth quarter valued at about $37,000. Atala Financial Inc purchased a new stake in shares of PACCAR in the fourth quarter valued at about $43,000. Regents Gate Capital LLP purchased a new position in shares of PACCAR during the 4th quarter worth approximately $44,000. Finally, OFI Invest Asset Management purchased a new position in shares of PACCAR during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the topic of a number of analyst reports. Evercore ISI lowered their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. UBS Group lowered PACCAR from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $124.00 to $108.00 in a research note on Tuesday, March 18th. Citigroup cut their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Friday, December 6th. Finally, Melius Research set a $120.00 price target on shares of PACCAR in a report on Tuesday, March 18th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, PACCAR presently has an average rating of “Moderate Buy” and a consensus price target of $118.38.

PACCAR Trading Down 1.3 %

PCAR stock opened at $96.91 on Friday. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The company has a market cap of $50.87 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 2.77 and a beta of 0.91. The business has a fifty day simple moving average of $105.19 and a 200-day simple moving average of $106.55. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $124.39.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, equities research analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were given a $0.33 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a yield of 1.36%. PACCAR’s dividend payout ratio (DPR) is 16.69%.

Insider Activity

In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR 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 transaction, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the transaction, the executive vice president now owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,547 shares of company stock worth $18,261,908 over the last 90 days. Company insiders own 2.02% of the company’s stock.

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.