Allianz SE Invests $2.67 Million in PACCAR Inc (NASDAQ:PCAR)

Allianz SE bought a new position in shares of PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, HoldingsChannel.com reports. The firm bought 25,741 shares of the company’s stock, valued at approximately $2,667,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of PACCAR in the 4th quarter valued at about $526,922,000. Wellington Management Group LLP boosted its holdings in shares of PACCAR by 53.3% in the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock valued at $1,325,678,000 after acquiring an additional 4,669,172 shares during the period. Madison Investment Advisors LLC purchased a new position in shares of PACCAR during the fourth quarter worth approximately $254,651,000. JPMorgan Chase & Co. increased its holdings in shares of PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after acquiring an additional 1,164,692 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in PACCAR in the 3rd quarter valued at $63,186,000. 64.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Truist Financial boosted their price target on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Citigroup decreased their price objective on PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group lowered PACCAR from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Friday, December 6th. Finally, Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.38.

Insider Transactions at PACCAR

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was 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 of the company’s stock, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the sale, the executive vice president now owns 61,005 shares in the company, valued at $6,805,717.80. This represents a 62.95 % decrease in their ownership of the stock. 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 90 days. 2.02% of the stock is currently owned by insiders.

PACCAR Stock Down 1.3 %

Shares of NASDAQ PCAR opened at $96.91 on Friday. The stock has a market capitalization of $50.87 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $124.39. The firm has a 50-day moving average price of $105.19 and a 200 day moving average price of $106.64. 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 announced its quarterly earnings results 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%. Equities research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

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

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.