Geode Capital Management LLC Has $1.28 Billion Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Geode Capital Management LLC increased its position in PACCAR Inc (NASDAQ:PCAR) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,242,288 shares of the company’s stock after purchasing an additional 362,637 shares during the quarter. Geode Capital Management LLC owned approximately 2.33% of PACCAR worth $1,275,269,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PCAR. Principal Financial Group Inc. grew its position in shares of PACCAR by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company’s stock worth $335,334,000 after buying an additional 178,813 shares during the period. Townsquare Capital LLC raised its position in shares of PACCAR by 36.1% during the 3rd quarter. Townsquare Capital LLC now owns 11,133 shares of the company’s stock valued at $1,099,000 after acquiring an additional 2,951 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of PACCAR by 13.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 22,850 shares of the company’s stock valued at $2,255,000 after acquiring an additional 2,700 shares during the last quarter. Verition Fund Management LLC lifted its stake in shares of PACCAR by 41.2% in the 3rd quarter. Verition Fund Management LLC now owns 28,960 shares of the company’s stock valued at $2,858,000 after purchasing an additional 8,457 shares during the period. Finally, Hilltop Holdings Inc. boosted its position in shares of PACCAR by 49.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 8,266 shares of the company’s stock worth $816,000 after purchasing an additional 2,728 shares during the last quarter. 64.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PCAR shares. UBS Group lowered PACCAR from a “buy” rating to a “neutral” rating and cut their target price for the company from $124.00 to $108.00 in a research note on Tuesday, March 18th. Citigroup cut their price target on shares of PACCAR from $112.00 to $105.00 and set a “neutral” rating on the stock in a research report on Monday. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Truist Financial increased their target price on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of PACCAR from $132.00 to $121.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $117.54.

PACCAR Price Performance

NASDAQ PCAR opened at $98.29 on Wednesday. The firm’s 50 day moving average is $104.69 and its 200-day moving average is $106.76. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $51.60 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $123.20.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. Equities research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.34%. This is an increase from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR’s dividend payout ratio (DPR) is currently 16.69%.

Insiders Place Their Bets

In other news, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the completion of the transaction, the vice president now owns 5,463 shares of the company’s stock, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael K. Walton sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now owns 951 shares in the company, valued at $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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.

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.