iA Global Asset Management Inc. Cuts Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

iA Global Asset Management Inc. lessened its holdings in PACCAR Inc (NASDAQ:PCAR) by 21.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,511 shares of the company’s stock after selling 15,193 shares during the period. iA Global Asset Management Inc.’s holdings in PACCAR were worth $5,878,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Madrona Financial Services LLC raised its stake in shares of PACCAR by 1.1% in the 4th quarter. Madrona Financial Services LLC now owns 8,051 shares of the company’s stock valued at $837,000 after acquiring an additional 91 shares during the period. Global Financial Private Client LLC raised its stake in shares of PACCAR by 1.0% in the 4th quarter. Global Financial Private Client LLC now owns 9,716 shares of the company’s stock valued at $1,011,000 after acquiring an additional 97 shares during the period. PDS Planning Inc raised its stake in shares of PACCAR by 3.7% in the 4th quarter. PDS Planning Inc now owns 2,810 shares of the company’s stock valued at $292,000 after acquiring an additional 101 shares during the period. Insight Wealth Partners LLC raised its stake in shares of PACCAR by 1.4% in the 3rd quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company’s stock valued at $760,000 after acquiring an additional 104 shares during the period. Finally, Valley National Advisers Inc. raised its stake in shares of PACCAR by 0.6% in the 4th quarter. Valley National Advisers Inc. now owns 19,063 shares of the company’s stock valued at $1,982,000 after acquiring an additional 106 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the topic of a number of research reports. Melius raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday. Citigroup lowered their price target on shares of PACCAR from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Truist Financial raised their price target on shares of PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Friday, December 6th. Finally, UBS Group lowered shares of PACCAR from a “buy” rating to a “neutral” rating and lowered their price target for the company from $124.00 to $108.00 in a report on Tuesday. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR presently has an average rating of “Moderate Buy” and a consensus target price of $118.23.

Insider Activity

In other news, VP Michael K. Walton sold 6,000 shares of PACCAR stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the transaction, the vice president now directly owns 951 shares of the company’s stock, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Darrin C. Siver sold 103,671 shares of PACCAR stock in a transaction dated Friday, January 31st. The shares were 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 directly owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This trade represents a 62.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 165,547 shares of company stock valued at $18,261,908. Company insiders own 2.02% of the company’s stock.

PACCAR Price Performance

Shares of PCAR stock opened at $98.32 on Friday. The firm has a market cap of $51.60 billion, a P/E ratio of 12.43, a P/E/G ratio of 2.77 and a beta of 0.91. 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 firm has a fifty day moving average of $106.48 and a two-hundred day moving average of $106.40.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data 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 return on equity of 23.53% and a net margin of 12.36%. As a group, research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were issued a $0.33 dividend. The ex-dividend date was Wednesday, February 12th. This is a positive change from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.34%. PACCAR’s payout ratio is 16.69%.

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.