PACCAR Inc (NASDAQ:PCAR) Position Lessened by Fmr LLC

Fmr LLC reduced its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 31.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,624,495 shares of the company’s stock after selling 4,014,955 shares during the quarter. Fmr LLC owned about 1.64% of PACCAR worth $851,065,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its holdings in shares of PACCAR by 0.4% in the 1st quarter. Janus Henderson Group PLC now owns 68,188 shares of the company’s stock worth $8,445,000 after acquiring an additional 301 shares during the period. Tidal Investments LLC raised its holdings in shares of PACCAR by 19.5% during the first quarter. Tidal Investments LLC now owns 21,616 shares of the company’s stock valued at $2,678,000 after buying an additional 3,526 shares during the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of PACCAR during the first quarter worth approximately $27,000. Citizens Financial Group Inc. RI acquired a new stake in PACCAR in the 1st quarter valued at approximately $400,000. Finally, Virtu Financial LLC bought a new stake in PACCAR during the 1st quarter valued at $1,359,000. 64.90% of the stock is currently owned by institutional investors.

Insider Transactions at PACCAR

In related news, SVP Kevin D. Baney sold 9,894 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $107.00, for a total value of $1,058,658.00. Following the completion of the sale, the senior vice president now directly owns 7,121 shares of the company’s stock, valued at approximately $761,947. This represents a 58.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the transaction, the chief financial officer now directly owns 105,558 shares in the company, valued at approximately $11,287,316.94. This trade represents a 15.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,315 shares of company stock valued at $6,358,552 over the last quarter. Company insiders own 2.02% of the company’s stock.

PACCAR Trading Up 0.3 %

Shares of NASDAQ PCAR opened at $116.18 on Thursday. The business has a fifty day simple moving average of $106.94 and a 200-day simple moving average of $103.19. The company has a market cap of $60.91 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 1.83 and a beta of 0.89. PACCAR Inc has a 12 month low of $90.04 and a 12 month high of $125.50. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same period last year, the company posted $2.34 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. Sell-side analysts predict that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.03%. PACCAR’s payout ratio is currently 13.41%.

Wall Street Analyst Weigh In

PCAR has been the subject of several recent analyst reports. BNP Paribas raised PACCAR to a “hold” rating in a research note on Wednesday, October 16th. Morgan Stanley decreased their target price on shares of PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Truist Financial increased their price objective on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Finally, Citigroup boosted their target price on PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $117.64.

PACCAR Profile

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.