Generali Asset Management SPA SGR Buys Shares of 61,880 PACCAR Inc (NASDAQ:PCAR)

Generali Asset Management SPA SGR bought a new stake in shares of PACCAR Inc (NASDAQ:PCAR) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 61,880 shares of the company’s stock, valued at approximately $6,437,000.

Several other hedge funds have also recently added to or reduced their stakes in PCAR. Principal Financial Group Inc. increased its holdings in PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock valued at $335,334,000 after acquiring an additional 178,813 shares in the last quarter. Quest Partners LLC increased its holdings in PACCAR by 45,433.3% during the 3rd quarter. Quest Partners LLC now owns 2,732 shares of the company’s stock valued at $270,000 after acquiring an additional 2,726 shares in the last quarter. Caprock Group LLC grew its holdings in shares of PACCAR by 18.4% during the third quarter. Caprock Group LLC now owns 24,728 shares of the company’s stock worth $2,440,000 after buying an additional 3,835 shares in the last quarter. LGT Capital Partners LTD. grew its holdings in shares of PACCAR by 32.0% during the third quarter. LGT Capital Partners LTD. now owns 574,965 shares of the company’s stock worth $56,738,000 after buying an additional 139,270 shares in the last quarter. Finally, Banque Cantonale Vaudoise grew its holdings in shares of PACCAR by 73.9% during the third quarter. Banque Cantonale Vaudoise now owns 10,291 shares of the company’s stock worth $1,016,000 after buying an additional 4,372 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on PCAR. Evercore ISI lowered their price target on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Truist Financial lifted their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. UBS Group downgraded shares of PACCAR from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $124.00 to $108.00 in a report on Tuesday. Jefferies Financial Group downgraded shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Friday, December 6th. Finally, Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $118.23.

Insider Buying and Selling at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the sale, the vice president now owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the sale, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,547 shares of company stock valued at $18,261,908 over the last ninety days. Corporate insiders own 2.02% of the company’s stock.

PACCAR Price Performance

PCAR opened at $100.21 on Wednesday. The stock has a market capitalization of $52.59 billion, a PE ratio of 12.67, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50. The company’s 50 day simple moving average is $106.86 and its 200 day simple moving average is $106.50.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, sell-side analysts expect that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a dividend of $3.00 per share. This is a boost from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s payout ratio is 16.69%.

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.