Lifeworks Advisors LLC Buys 3,924 Shares of PACCAR Inc (NASDAQ:PCAR)

Lifeworks Advisors LLC lifted its position in PACCAR Inc (NASDAQ:PCAR) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,581 shares of the company’s stock after buying an additional 3,924 shares during the quarter. Lifeworks Advisors LLC’s holdings in PACCAR were worth $4,741,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PCAR. Wellington Management Group LLP increased its holdings in PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after acquiring an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of PACCAR by 47.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after purchasing an additional 3,296,146 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after purchasing an additional 1,164,692 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of PACCAR in the third quarter worth $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in PACCAR by 115.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock valued at $106,047,000 after buying an additional 576,532 shares during the period. 64.90% of the stock is currently owned by institutional investors.

PACCAR Trading Up 3.0 %

NASDAQ:PCAR opened at $110.06 on Friday. The firm has a market capitalization of $57.76 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The business has a fifty day moving average price of $107.27 and a 200-day moving average price of $106.01. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data 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%. Sell-side analysts forecast that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a $3.00 dividend. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio is presently 16.69%.

Insider Transactions at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Friday, January 31st. The stock was 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 owns 5,463 shares in the company, valued at approximately $612,129.15. This represents a 26.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total value of $2,796,696.00. Following the sale, the chief executive officer now directly owns 206,129 shares in the company, valued at approximately $22,876,196.42. This represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 over the last three months. Corporate insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the topic of a number of research analyst reports. Evercore ISI decreased their target price on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Truist Financial raised their target price on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Citigroup dropped their target price on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. increased their price target on shares of PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $116.00 to $121.50 in a report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.77.

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.