3,200 Shares in PACCAR Inc (NASDAQ:PCAR) Acquired by Absolute Capital Management LLC

Absolute Capital Management LLC purchased a new position in shares of PACCAR Inc (NASDAQ:PCAR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,200 shares of the company’s stock, valued at approximately $312,000.

A number of other large investors have also added to or reduced their stakes in PCAR. Lord Abbett & CO. LLC acquired a new stake in PACCAR during the third quarter worth approximately $33,668,000. International Assets Investment Management LLC grew its position in PACCAR by 8,388.6% during the fourth quarter. International Assets Investment Management LLC now owns 376,132 shares of the company’s stock worth $36,729,000 after buying an additional 371,701 shares in the last quarter. Clarius Group LLC grew its position in PACCAR by 52.7% during the fourth quarter. Clarius Group LLC now owns 1,012,755 shares of the company’s stock worth $98,896,000 after buying an additional 349,727 shares in the last quarter. Invesco Ltd. grew its position in PACCAR by 9.9% during the third quarter. Invesco Ltd. now owns 3,645,267 shares of the company’s stock worth $309,921,000 after buying an additional 328,347 shares in the last quarter. Finally, Northern Trust Corp grew its position in PACCAR by 6.0% during the third quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock worth $471,079,000 after buying an additional 316,001 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. UBS Group raised PACCAR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Morgan Stanley started coverage on PACCAR in a report on Monday, January 8th. They issued an “overweight” rating and a $125.00 target price on the stock. JPMorgan Chase & Co. raised their target price on PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Royal Bank of Canada started coverage on PACCAR in a report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price on the stock. Finally, Truist Financial started coverage on PACCAR in a report on Thursday, March 14th. They issued a “hold” rating and a $117.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $113.08.

PACCAR Stock Down 0.6 %

Shares of PCAR opened at $111.96 on Friday. PACCAR Inc has a 52 week low of $68.40 and a 52 week high of $125.50. The stock has a market capitalization of $58.67 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.68 and a beta of 0.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. The stock has a fifty day moving average of $116.58 and a 200-day moving average of $101.87.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s payout ratio is 12.31%.

Insider Activity

In other PACCAR news, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the transaction, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at approximately $493,675,224.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total value of $7,578,189.71. Following the transaction, the chairman now directly owns 4,843,277 shares in the company, valued at $493,675,224.61. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,293 shares of company stock worth $14,581,337. Insiders own 2.02% of the company’s stock.

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.