The Manufacturers Life Insurance Company Acquires 63,117 Shares of Paccar (PCAR)

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The Manufacturers Life Insurance Company raised its holdings in Paccar (NASDAQ:PCAR) by 17.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 421,916 shares of the company’s stock after buying an additional 63,117 shares during the period. The Manufacturers Life Insurance Company owned about 0.12% of Paccar worth $27,918,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Northern Trust Corp lifted its stake in shares of Paccar by 2.6% in the first quarter. Northern Trust Corp now owns 4,159,962 shares of the company’s stock valued at $275,264,000 after buying an additional 107,373 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Paccar by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 4,104,838 shares of the company’s stock valued at $291,223,000 after buying an additional 266,591 shares in the last quarter. Boston Partners lifted its stake in shares of Paccar by 26.7% in the first quarter. Boston Partners now owns 3,417,116 shares of the company’s stock valued at $226,111,000 after buying an additional 721,100 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Paccar by 14.2% in the fourth quarter. Deutsche Bank AG now owns 3,251,534 shares of the company’s stock valued at $231,113,000 after buying an additional 405,111 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Paccar by 3.2% in the first quarter. Victory Capital Management Inc. now owns 3,139,261 shares of the company’s stock valued at $207,725,000 after buying an additional 97,578 shares in the last quarter. 62.99% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on PCAR shares. Zacks Investment Research raised shares of Paccar from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Wednesday, April 18th. ValuEngine lowered shares of Paccar from a “hold” rating to a “sell” rating in a research report on Wednesday. BidaskClub lowered shares of Paccar from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. dropped their price target on shares of Paccar from $74.00 to $72.00 and set a “hold” rating on the stock in a research report on Tuesday, April 10th. Finally, Robert W. Baird reissued a “hold” rating and set a $80.00 price target on shares of Paccar in a research report on Tuesday, April 17th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $73.57.

In other news, insider T. Kyle Quinn sold 9,964 shares of Paccar stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $64.69, for a total value of $644,571.16. Following the completion of the transaction, the insider now owns 32,000 shares in the company, valued at $2,070,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP C Michael Dozier sold 13,348 shares of Paccar stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $63.45, for a total transaction of $846,930.60. Following the completion of the transaction, the vice president now owns 8,860 shares of the company’s stock, valued at approximately $562,167. The disclosure for this sale can be found here. 2.64% of the stock is owned by company insiders.

Paccar opened at $62.75 on Wednesday, according to Marketbeat. Paccar has a 52-week low of $60.36 and a 52-week high of $79.69. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.45 and a quick ratio of 2.29. The stock has a market cap of $22.37 billion, a P/E ratio of 14.73, a P/E/G ratio of 1.15 and a beta of 1.21.

Paccar (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 24th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.14. Paccar had a net margin of 8.99% and a return on equity of 21.26%. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter last year, the company posted $0.88 earnings per share. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. equities research analysts anticipate that Paccar will post 5.65 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 5th. Stockholders of record on Tuesday, May 15th were paid a $0.28 dividend. This is an increase from Paccar’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 14th. This represents a $1.12 annualized dividend and a dividend yield of 1.78%. Paccar’s dividend payout ratio (DPR) is presently 26.29%.

About Paccar

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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Institutional Ownership by Quarter for Paccar (NASDAQ:PCAR)

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