Generali Asset Management Acquires Stake in PACCAR Inc

Generali Asset Management SPA SGR has recently made a significant investment in PACCAR Inc (NASDAQ:PCAR), as disclosed in its latest 13F filing with the Securities and Exchange Commission (SEC). In the fourth quarter, the firm purchased a total of 61,880 shares of PACCAR's stock, which is valued at approximately $6,437,000.

Several other hedge funds have also either increased or decreased their investments in PACCAR. For instance, Principal Financial Group Inc. raised its stake in PACCAR by 5.6% during the third quarter, bringing its total holdings to 3,398,193 shares valued at $335,334,000 after acquiring an additional 178,813 shares. Similarly, Quest Partners LLC massively increased their investment by 45,433.3%, now owning 2,732 shares worth $270,000 after an additional purchase of 2,726 shares.

Other notable hedge funds that expanded their holdings in PACCAR during the third quarter include Caprock Group LLC, which grew its stake by 18.4%, now holding 24,728 shares valued at $2,440,000, and LGT Capital Partners LTD, which increased its holdings by 32.0%, now owning 574,965 shares worth $56,738,000 after buying an additional 139,270 shares. Banque Cantonale Vaudoise also increased its investment by 73.9%, acquiring 10,291 shares valued at $1,016,000 after purchasing 4,372 new shares. Currently, 64.90% of PACCAR's stock is owned by hedge funds and other institutional investors.

Recent Analyst Ratings

Analysts have recently surveyed PACCAR, with some providing updates on their price targets. For example, Evercore ISI adjusted its price target down from $129.00 to $127.00 while maintaining an “outperform” rating. Truist Financial also lifted their price target from $112.00 to $113.00, assigning a “hold” rating. Meanwhile, UBS Group downgraded PACCAR from a “buy” to a “neutral” rating and decreased its price target from $124.00 to $108.00. Jefferies Financial Group similarly downgraded their rating from “buy” to “hold” with a price target set at $120.00. In contrast, Melius upgraded PACCAR from “hold” to “buy.” A total of eight analysts have issued hold ratings, while seven have recommended buying the stock, leading to an average rating of “Hold” with a price target of $118.23 based on MarketBeat data.

Insider Transactions

Further details reveal some insider trading activity at PACCAR. On January 31st, Vice President Todd R. Hubbard sold 2,000 shares at an average price of $112.05, totaling $224,100. Following this transaction, he retains 5,463 shares valued at approximately $612,129. Similarly, CEO R Preston Feight sold 25,200 shares for $2,796,696 on the same day, which decreased his ownership by 10.89%. Over the last ninety days, insiders have sold a total of 165,547 shares, amounting to $18,261,908, and corporate insiders currently hold 2.02% of the company's stock.

PACCAR Stock Performance and Dividends

As of Wednesday, PACCAR shares opened at $100.21. The company has a market capitalization of approximately $52.59 billion, with a P/E ratio of 12.67 and a P/E/G ratio of 2.77. Furthermore, PACCAR recorded a debt-to-equity ratio of 0.56, a quick ratio of 1.39, and a current ratio of 2.54. Over the past year, the stock has seen a low of $90.04 and a high of $125.50, while maintaining a 50-day simple moving average of $106.86.

PACCAR recently announced its dividend payment of $3.00 per share, a notable increase from the previous $0.89. This payment was made to shareholders of record on December 20th, with the ex-dividend date also set for the same day. The company's current payout ratio stands at 16.69%.

Company Overview

PACCAR Inc is engaged in the design, manufacture, and distribution of light, medium, and heavy-duty commercial trucks. The company operates in several markets, including the United States, Canada, Europe, Mexico, South America, and Australia. Its operations are divided into three segments: Truck, Parts, and Financial Services, with the Truck segment focusing on the production of vehicles for both over-the-road and off-highway transport.

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