Royal Bank of Canada Acquires 100,866 Shares of PACCAR Inc (NASDAQ:PCAR)

Royal Bank of Canada lifted its holdings in shares of PACCAR Inc (NASDAQ:PCAR) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,786,785 shares of the company’s stock after purchasing an additional 100,866 shares during the quarter. Royal Bank of Canada owned 0.34% of PACCAR worth $185,862,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its position in shares of PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after acquiring an additional 193 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of PACCAR during the 4th quarter worth approximately $37,000. Kestra Investment Management LLC acquired a new stake in shares of PACCAR during the 4th quarter worth approximately $37,000. OFI Invest Asset Management acquired a new stake in shares of PACCAR during the 4th quarter worth approximately $43,000. Finally, Atala Financial Inc acquired a new stake in shares of PACCAR during the 4th quarter worth approximately $43,000. 64.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

PCAR has been the topic of several analyst reports. Evercore ISI reduced their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Truist Financial reduced their price target on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Citigroup reduced their price target on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. cut shares of PACCAR from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $105.00 to $90.00 in a research note on Wednesday, April 30th. Finally, Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $105.23.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $96.71 on Friday. The firm has a market cap of $50.77 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. The firm’s fifty day moving average is $93.34 and its 200-day moving average is $103.86. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a 52 week low of $84.65 and a 52 week high of $118.81.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). The business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a return on equity of 23.53% and a net margin of 12.36%. PACCAR’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.27 EPS. Sell-side analysts predict that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.36%. PACCAR’s payout ratio is 20.00%.

Insider Activity at PACCAR

In related news, CFO Harrie Schippers sold 28,676 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total value of $3,038,795.72. Following the transaction, the chief financial officer now owns 114,659 shares in the company, valued at $12,150,414.23. The trade was a 20.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were 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 owns 951 shares in the company, valued at approximately $100,929.63. The trade was a 86.32% decrease in their position. The disclosure for this sale can be found here. 2.02% of the stock is owned by company insiders.

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.