Xponance Inc. Has $6.80 Million Stake in PACCAR Inc (NASDAQ:PCAR)

Xponance Inc. increased its position in PACCAR Inc (NASDAQ:PCAR) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,671 shares of the company’s stock after buying an additional 1,146 shares during the period. Xponance Inc.’s holdings in PACCAR were worth $6,803,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Federated Hermes Inc. increased its stake in shares of PACCAR by 125.5% during the 4th quarter. Federated Hermes Inc. now owns 8,643 shares of the company’s stock worth $844,000 after purchasing an additional 4,810 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in PACCAR by 23.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 70,988 shares of the company’s stock worth $7,124,000 after buying an additional 13,258 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in PACCAR by 5.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 73,204 shares of the company’s stock valued at $7,148,000 after buying an additional 3,691 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PACCAR by 3.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 208,488 shares of the company’s stock worth $20,359,000 after buying an additional 6,558 shares during the last quarter. Finally, SVB Wealth LLC boosted its stake in shares of PACCAR by 31.1% during the 4th quarter. SVB Wealth LLC now owns 4,138 shares of the company’s stock worth $404,000 after acquiring an additional 981 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of PCAR stock opened at $111.19 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21. The stock’s fifty day simple moving average is $115.97 and its 200 day simple moving average is $100.85. PACCAR Inc has a one year low of $68.40 and a one year high of $125.50. The firm has a market cap of $58.26 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 1.71 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.45. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. During the same quarter in the prior year, the firm earned $1.76 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, analysts expect that PACCAR Inc will post 8.21 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 annualized dividend and a yield of 0.97%. PACCAR’s payout ratio is 12.31%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PCAR shares. The Goldman Sachs Group raised their price objective on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday. Royal Bank of Canada assumed coverage on shares of PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price objective for the company. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $84.00 to $97.00 in a report on Friday, January 19th. UBS Group upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and upped their price target for the company from $104.00 to $136.00 in a report on Friday, March 15th. Finally, Morgan Stanley began coverage on PACCAR in a research note on Monday, January 8th. They issued an “overweight” rating and a $125.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.82.

Insiders Place Their Bets

In related news, VP Todd R. Hubbard sold 4,829 shares of PACCAR stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the completion of the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at $584,739.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the transaction, the vice president now directly owns 5,726 shares in the company, valued at approximately $607,814.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd R. Hubbard sold 4,829 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 153,496 shares of company stock valued at $15,834,812. 2.02% of the stock is currently owned by corporate insiders.

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.