First Trust Direct Indexing L.P. Grows Stock Position in PACCAR Inc (NASDAQ:PCAR)

First Trust Direct Indexing L.P. boosted its stake in PACCAR Inc (NASDAQ:PCAR) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,135 shares of the company’s stock after buying an additional 1,001 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in PACCAR were worth $1,185,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PCAR. Raymond James Financial Services Advisors Inc. grew its position in PACCAR by 18.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company’s stock worth $10,450,000 after purchasing an additional 16,360 shares during the last quarter. abrdn plc grew its holdings in PACCAR by 50.9% during the 4th quarter. abrdn plc now owns 264,756 shares of the company’s stock valued at $25,853,000 after purchasing an additional 89,359 shares in the last quarter. Aigen Investment Management LP acquired a new position in PACCAR during the 3rd quarter worth $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of PACCAR by 42.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company’s stock worth $47,518,000 after purchasing an additional 166,628 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of PACCAR by 29.6% in the 4th quarter. Pacer Advisors Inc. now owns 71,727 shares of the company’s stock valued at $7,004,000 after purchasing an additional 16,390 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Insider Transactions at PACCAR

In other 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 value of $212,300.00. Following the transaction, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Todd R. Hubbard sold 2,000 shares of the business’s 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 sale, the vice president now owns 5,726 shares of the company’s stock, valued at approximately $607,814.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Harrie Schippers sold 32,797 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.08, for a total transaction of $3,479,105.76. Following the completion of the sale, the chief financial officer now owns 103,547 shares in the company, valued at approximately $10,984,265.76. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by company insiders.

PACCAR Stock Down 1.0 %

PCAR stock traded down $1.06 during trading on Friday, reaching $105.40. The stock had a trading volume of 445,899 shares, compared to its average volume of 2,413,164. PACCAR Inc has a 1-year low of $68.40 and a 1-year high of $125.50. The company has a current ratio of 1.69, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $55.23 billion, a P/E ratio of 11.04, a PEG ratio of 1.60 and a beta of 0.96. The firm has a fifty day moving average price of $116.54 and a 200 day moving average price of $102.39.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.07. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same period last year, the company earned $2.25 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts anticipate that PACCAR Inc will post 8.23 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th will be given a $0.30 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.14%. PACCAR’s dividend payout ratio is presently 11.20%.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several research reports. Bank of America upgraded shares of PACCAR from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $84.00 to $97.00 in a research report on Friday, January 19th. Evercore ISI upped their target price on shares of PACCAR from $94.00 to $101.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Royal Bank of Canada began coverage on shares of PACCAR in a research note on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 price objective on the stock. JPMorgan Chase & Co. reduced their price target on PACCAR from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their target price for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of “Moderate Buy” and an average price target of $112.62.

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.