KBC Group NV Raises Holdings in PACCAR Inc (NASDAQ:PCAR)

KBC Group NV lifted its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 185.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 688,808 shares of the company’s stock after acquiring an additional 447,711 shares during the period. KBC Group NV owned 0.13% of PACCAR worth $71,649,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in PACCAR by 53.3% during the third quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of PACCAR by 47.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock valued at $1,006,033,000 after buying an additional 3,296,146 shares during the period. Fisher Asset Management LLC raised its position in shares of PACCAR by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after buying an additional 89,245 shares during the period. JPMorgan Chase & Co. lifted its holdings in PACCAR by 49.6% in the third 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 last quarter. Finally, Principal Financial Group Inc. grew its position in PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after acquiring an additional 178,813 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PACCAR stock opened at $109.90 on Monday. The firm’s fifty day simple moving average is $110.55 and its 200-day simple moving average is $104.35. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The stock has a market capitalization of $57.62 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 2.77 and a beta of 0.93. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a $3.00 dividend. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date was Friday, December 20th. PACCAR’s dividend payout ratio is presently 13.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PCAR shares. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Citigroup reduced their price objective on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Morgan Stanley decreased their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, PACCAR has a consensus rating of “Moderate Buy” and an average target price of $121.23.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,191 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares in the company, valued at $17,782,251.52. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.02% of the company’s stock.

PACCAR Company 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.