Oxford Asset Management LLP Trims Position in PACCAR Inc (NASDAQ:PCAR)

Oxford Asset Management LLP lowered its position in PACCAR Inc (NASDAQ:PCAR) by 34.6% in the fourth quarter, HoldingsChannel reports. The firm owned 2,461 shares of the company’s stock after selling 1,301 shares during the period. Oxford Asset Management LLP’s holdings in PACCAR were worth $256,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of PACCAR by 25.0% during the 4th quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock worth $1,747,408,000 after buying an additional 3,364,650 shares during the last quarter. Geode Capital Management LLC increased its stake in PACCAR by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company’s stock worth $1,275,269,000 after acquiring an additional 362,637 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in PACCAR by 5.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,767,134 shares of the company’s stock valued at $1,119,997,000 after purchasing an additional 572,231 shares during the period. FMR LLC lifted its stake in shares of PACCAR by 1.9% in the 4th quarter. FMR LLC now owns 8,791,660 shares of the company’s stock valued at $914,509,000 after purchasing an additional 167,165 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of PACCAR by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,006,859 shares of the company’s stock valued at $624,836,000 after purchasing an additional 313,292 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now owns 951 shares of the company’s stock, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Darrin C. Siver sold 103,671 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 61,005 shares of the company’s stock, valued at $6,805,717.80. This represents a 62.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 165,547 shares of company stock valued at $18,261,908 in the last ninety days. Insiders own 2.02% of the company’s stock.

Analysts Set New Price Targets

PCAR has been the topic of several research analyst reports. Melius Research set a $120.00 price objective on shares of PACCAR in a report on Tuesday, March 18th. Citigroup decreased their price objective on shares of PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. JPMorgan Chase & Co. decreased their price target on PACCAR from $121.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Finally, Bank of America raised PACCAR from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $116.00 to $121.50 in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $108.59.

PACCAR Price Performance

PCAR stock opened at $91.89 on Monday. PACCAR Inc has a 1 year low of $85.05 and a 1 year high of $118.81. The firm has a market capitalization of $48.24 billion, a P/E ratio of 11.62, a P/E/G ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The business’s 50-day moving average is $97.55 and its two-hundred day moving average is $105.37.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) 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%. 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. Shareholders of record on Wednesday, February 12th were paid a $0.33 dividend. The ex-dividend date was Wednesday, February 12th. This is a boost from PACCAR’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.44%. PACCAR’s dividend payout ratio (DPR) is currently 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.