PACCAR Inc (NASDAQ:PCAR) Stake Decreased by Global Retirement Partners LLC

Global Retirement Partners LLC cut its position in shares of PACCAR Inc (NASDAQ:PCAR) by 7.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,184 shares of the company’s stock after selling 389 shares during the quarter. Global Retirement Partners LLC’s holdings in PACCAR were worth $539,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in PACCAR by 53.3% in the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company’s stock worth $1,325,678,000 after purchasing an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA boosted its position in PACCAR by 47.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after purchasing an additional 3,296,146 shares during the period. JPMorgan Chase & Co. grew its stake in PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock valued at $346,878,000 after buying an additional 1,164,692 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of PACCAR in the third quarter worth about $63,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in PACCAR by 115.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,074,653 shares of the company’s stock worth $106,047,000 after buying an additional 576,532 shares during the period. Institutional investors own 64.90% of the company’s stock.

Insider Activity

In other news, EVP Darrin C. Siver sold 103,671 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $111.56, for a total value of $11,565,536.76. Following the completion of the transaction, the executive vice president now directly owns 61,005 shares in the company, valued at approximately $6,805,717.80. This represents a 62.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 165,547 shares of company stock worth $18,261,908. Corporate insiders own 2.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Truist Financial raised their price target on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a research note on Monday, November 4th. Citigroup cut their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Finally, Evercore ISI cut their target price on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.77.

PACCAR Price Performance

NASDAQ:PCAR opened at $104.46 on Monday. PACCAR Inc has a 52-week low of $90.04 and a 52-week high of $125.50. The company has a market cap of $54.82 billion, a P/E ratio of 13.21, a P/E/G ratio of 2.77 and a beta of 0.92. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The stock’s 50-day simple moving average is $107.50 and its 200 day simple moving average is $105.34.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.04). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. As a group, sell-side analysts forecast that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio is 16.69%.

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.