Amalgamated Bank Sells 7,521 Shares of PACCAR Inc (NASDAQ:PCAR)

Amalgamated Bank lowered its position in PACCAR Inc (NASDAQ:PCAR) by 6.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 104,926 shares of the company’s stock after selling 7,521 shares during the period. Amalgamated Bank’s holdings in PACCAR were worth $10,914,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings 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 buying an additional 4,669,172 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in PACCAR by 47.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company’s stock worth $1,006,033,000 after buying an additional 3,296,146 shares during the period. Fisher Asset Management LLC boosted its holdings in PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock worth $511,254,000 after buying an additional 89,245 shares during the period. JPMorgan Chase & Co. boosted its holdings in PACCAR by 49.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company’s stock worth $346,878,000 after buying an additional 1,164,692 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in PACCAR by 1.8% in the 4th quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company’s stock worth $364,690,000 after buying an additional 61,457 shares during the period. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Up 0.3 %

Shares of NASDAQ PCAR opened at $106.58 on Wednesday. The firm’s 50-day moving average price is $107.28 and its 200-day moving average price is $105.53. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $55.93 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 2.77 and a beta of 0.92. PACCAR Inc has a 12-month low of $90.04 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. On average, equities research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current fiscal year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a $3.00 dividend. This is a positive change from PACCAR’s previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR’s dividend payout ratio is 16.69%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PCAR. Truist Financial upped their target price on shares of PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Evercore ISI dropped their price objective on shares of PACCAR from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and increased their price objective for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, PACCAR has an average rating of “Moderate Buy” and an average target price of $121.77.

Insider Buying and Selling

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