Alliancebernstein L.P. Increases Stake in PACCAR Inc (NASDAQ:PCAR)

Alliancebernstein L.P. boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,200,694 shares of the company’s stock after buying an additional 63,648 shares during the period. Alliancebernstein L.P. owned 0.61% of PACCAR worth $332,936,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Everence Capital Management Inc. purchased a new position in shares of PACCAR in the 4th quarter valued at approximately $1,984,000. Cullen Frost Bankers Inc. lifted its position in PACCAR by 8.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after buying an additional 6,494 shares during the period. Sanctuary Advisors LLC grew its position in shares of PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after buying an additional 5,871 shares during the period. Insight Wealth Strategies LLC grew its position in shares of PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock worth $4,061,000 after buying an additional 6,936 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of PACCAR by 19.3% in the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the company’s stock worth $138,000 after acquiring an additional 214 shares in the last quarter. 64.90% of the stock is owned by institutional investors.

Insider Activity

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares of the company’s stock, valued at approximately $612,129.15. This represents a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the sale, the executive vice president now directly owns 61,005 shares of the company’s stock, valued at approximately $6,805,717.80. The trade was a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 in the last quarter. 2.02% of the stock is currently owned by insiders.

PACCAR Stock Up 0.5 %

PCAR opened at $97.37 on Tuesday. The stock has a market capitalization of $51.11 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 2.77 and a beta of 0.91. The firm has a 50 day moving average price of $104.93 and a 200-day moving average price of $106.74. PACCAR Inc has a twelve month low of $90.04 and a twelve month high of $124.39. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

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

PACCAR Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Truist Financial upped their price objective on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Melius Research set a $120.00 price objective on PACCAR in a research report on Tuesday, March 18th. JPMorgan Chase & Co. cut their target price on PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Melius raised PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Finally, Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.54.

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.