PACCAR Inc. $PCAR Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its holdings in shares of PACCAR Inc. (NASDAQ:PCAR) by 235.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,540,688 shares of the company’s stock after buying an additional 1,784,236 shares during the period. American Century Companies Inc.’s holdings in PACCAR were worth $249,801,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in PACCAR by 0.8% in the third quarter. Vanguard Group Inc. now owns 63,111,444 shares of the company’s stock valued at $6,205,117,000 after acquiring an additional 485,678 shares during the period. State Street Corp lifted its holdings in shares of PACCAR by 1.0% in the 2nd quarter. State Street Corp now owns 22,534,596 shares of the company’s stock worth $2,142,139,000 after purchasing an additional 218,188 shares during the last quarter. Geode Capital Management LLC boosted its position in PACCAR by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 12,455,453 shares of the company’s stock valued at $1,184,112,000 after purchasing an additional 159,632 shares during the period. JPMorgan Chase & Co. grew its stake in PACCAR by 25.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,798,439 shares of the company’s stock worth $551,211,000 after buying an additional 1,165,443 shares during the last quarter. Finally, Invesco Ltd. increased its position in PACCAR by 5.0% in the second quarter. Invesco Ltd. now owns 5,212,386 shares of the company’s stock worth $495,489,000 after buying an additional 246,410 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Buying and Selling

In other news, EVP C Michael Dozier sold 79,076 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the completion of the sale, the executive vice president directly owned 34,656 shares of the company’s stock, valued at $4,433,195.52. This trade represents a 69.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kevin D. Baney sold 9,672 shares of PACCAR stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $126.53, for a total value of $1,223,798.16. Following the completion of the transaction, the executive vice president owned 12,592 shares in the company, valued at $1,593,265.76. The trade was a 43.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 133,105 shares of company stock valued at $16,869,046 in the last three months. Insiders own 2.02% of the company’s stock.

PACCAR Stock Up 1.6%

PCAR opened at $126.09 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98. The company has a market capitalization of $66.31 billion, a PE ratio of 27.96, a P/E/G ratio of 1.06 and a beta of 1.03. The stock’s fifty day moving average is $120.95 and its 200-day moving average is $107.77. PACCAR Inc. has a one year low of $84.65 and a one year high of $131.88.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, hitting the consensus estimate of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.06 billion. During the same period in the previous year, the business earned $1.66 earnings per share. PACCAR’s revenue for the quarter was down 15.1% compared to the same quarter last year. On average, equities analysts predict that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be given a $0.33 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.0%. PACCAR’s payout ratio is 29.27%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PCAR shares. Truist Financial upped their price target on shares of PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, January 28th. Wall Street Zen upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Wells Fargo & Company set a $119.00 price target on PACCAR and gave the company an “equal weight” rating in a report on Friday, January 23rd. Zacks Research raised PACCAR from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Finally, JPMorgan Chase & Co. raised their target price on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $116.50.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.