UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 132,469 Shares of PACCAR Inc (NASDAQ:PCAR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in PACCAR Inc (NASDAQ:PCAR) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,490,375 shares of the company’s stock after selling 132,469 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.47% of PACCAR worth $245,750,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Security National Bank increased its holdings in PACCAR by 4.2% in the second quarter. Security National Bank now owns 2,328 shares of the company’s stock worth $240,000 after purchasing an additional 93 shares in the last quarter. Brookstone Capital Management grew its position in shares of PACCAR by 4.1% during the 2nd quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock worth $258,000 after buying an additional 94 shares during the period. CVA Family Office LLC increased its stake in shares of PACCAR by 13.3% in the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company’s stock valued at $82,000 after acquiring an additional 97 shares in the last quarter. Omnia Family Wealth LLC lifted its position in shares of PACCAR by 2.5% during the 3rd quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock valued at $394,000 after acquiring an additional 98 shares during the period. Finally, Grove Bank & Trust boosted its stake in PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after acquiring an additional 103 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Price Performance

PCAR opened at $117.00 on Friday. The firm’s fifty day moving average price is $107.64 and its two-hundred day moving average price is $103.35. The company has a market capitalization of $61.34 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 1.82 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. PACCAR Inc has a 1 year low of $90.04 and a 1 year high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.34 EPS. As a group, analysts anticipate that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on PCAR shares. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $99.00 to $129.00 in a research note on Wednesday, November 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. JPMorgan Chase & Co. reduced their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Citigroup upped their target price on PACCAR from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Finally, Truist Financial lifted their price target on shares of PACCAR from $103.00 to $107.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $117.64.

Insider Buying and Selling

In other news, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at $11,287,316.94. This trade represents a 15.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Todd R. Hubbard sold 3,230 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the transaction, the vice president now directly owns 3,061 shares in the company, valued at $328,353.47. This trade represents a 51.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,315 shares of company stock worth $6,358,552. 2.02% of the stock is owned by company 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.