PACCAR Inc (NASDAQ:PCAR) Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 11.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,180 shares of the company’s stock after purchasing an additional 439 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in PACCAR were worth $435,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Principal Financial Group Inc. raised its stake in shares of PACCAR by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after acquiring an additional 178,813 shares during the period. Ashton Thomas Securities LLC acquired a new stake in PACCAR in the 3rd quarter valued at $52,000. Sumitomo Mitsui Trust Group Inc. raised its position in PACCAR by 1.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,304,807 shares of the company’s stock valued at $128,758,000 after purchasing an additional 20,155 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of PACCAR by 1.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 79,485 shares of the company’s stock worth $7,844,000 after purchasing an additional 1,249 shares in the last quarter. Finally, Peak Asset Management LLC boosted its position in shares of PACCAR by 0.9% in the third quarter. Peak Asset Management LLC now owns 138,976 shares of the company’s stock worth $13,714,000 after buying an additional 1,219 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Wall Street Analysts Forecast Growth

PCAR has been the topic of several recent research reports. Truist Financial boosted their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Jefferies Financial Group cut shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. Citigroup decreased 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. Evercore ISI dropped their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $121.77.

PACCAR Stock Down 3.8 %

Shares of PACCAR stock opened at $98.42 on Friday. The business has a 50-day moving average price of $107.29 and a 200 day moving average price of $106.24. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The firm has a market cap of $51.65 billion, a P/E ratio of 12.44, a P/E/G ratio of 2.77 and a beta of 0.91. 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 posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) 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%. On average, sell-side analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

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

Insider Activity at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred 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 transaction, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. The trade was a 62.95 % 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 in the last quarter. Insiders own 2.02% of the company’s stock.

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.