PACCAR Inc (NASDAQ:PCAR) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd trimmed its position in PACCAR Inc (NASDAQ:PCAR) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,651 shares of the company’s stock after selling 446 shares during the quarter. Gulf International Bank UK Ltd’s holdings in PACCAR were worth $4,124,000 as of its most recent SEC filing.

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

PACCAR Price Performance

Shares of PCAR opened at $105.50 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50. The stock has a market cap of $55.37 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 2.77 and a beta of 0.92. The firm has a fifty day moving average price of $107.20 and a 200 day moving average price of $105.53.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share 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 anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a $3.00 dividend. This is an increase 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 presently 16.69%.

Insider Transactions at PACCAR

In related news, CFO Harrie Schippers sold 28,676 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the sale, the chief financial officer now owns 114,659 shares in the company, valued at $12,150,414.23. This represents a 20.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was 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 approximately $612,129.15. This represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,547 shares of company stock worth $18,261,908. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PCAR shares. 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 research note on Wednesday, February 19th. Bank of America upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $116.00 to $121.50 in a report on Tuesday, January 14th. Truist Financial upped their price target on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Citigroup reduced their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lifted their target price on PACCAR from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.77.

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.