Loomis Sayles & Co. L P Takes Position in PACCAR Inc (NASDAQ:PCAR)

Loomis Sayles & Co. L P bought a new position in PACCAR Inc (NASDAQ:PCAR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 597 shares of the company’s stock, valued at approximately $62,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in shares of PACCAR in the 4th quarter valued at $37,000. Kestra Investment Management LLC acquired a new stake in PACCAR in the fourth quarter worth $37,000. Atala Financial Inc bought a new stake in PACCAR in the fourth quarter valued at $43,000. Regents Gate Capital LLP acquired a new position in shares of PACCAR during the fourth quarter valued at about $44,000. Finally, OFI Invest Asset Management bought a new position in shares of PACCAR during the 4th quarter worth about $43,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares of the company’s stock, valued at approximately $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 165,547 shares of company stock worth $18,261,908. Insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PCAR shares. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Friday, December 6th. Truist Financial upped their target price on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. UBS Group lowered shares of PACCAR from a “buy” rating to a “neutral” rating and decreased their price target for the company from $124.00 to $108.00 in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.38.

PACCAR Stock Performance

PCAR stock opened at $96.91 on Monday. 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 firm has a market cap of $50.87 billion, a PE ratio of 12.25, a P/E/G ratio of 2.77 and a beta of 0.91. The business has a 50 day moving average of $105.19 and a 200-day moving average of $106.72. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $124.39.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share (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, sell-side analysts expect that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 12th were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a yield of 1.36%. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. PACCAR’s dividend payout ratio is presently 16.69%.

PACCAR 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.