PACCAR Inc (NASDAQ:PCAR) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lowered its holdings in PACCAR Inc (NASDAQ:PCAR) by 1.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 209,019 shares of the company’s stock after selling 2,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in PACCAR were worth $21,516,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in PACCAR in the 4th quarter valued at about $448,288,000. Capital International Investors lifted its stake in PACCAR by 44.8% in the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after acquiring an additional 1,225,468 shares during the last quarter. TD Asset Management Inc lifted its stake in PACCAR by 112.2% in the fourth quarter. TD Asset Management Inc now owns 2,072,281 shares of the company’s stock worth $202,358,000 after acquiring an additional 1,095,894 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of PACCAR in the 4th quarter valued at approximately $87,441,000. Finally, Epoch Investment Partners Inc. raised its holdings in shares of PACCAR by 113.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,058,970 shares of the company’s stock valued at $103,408,000 after purchasing an additional 562,571 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of PACCAR stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.02% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on PCAR shares. JPMorgan Chase & Co. dropped their target price on PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their target price on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. StockNews.com raised PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Citigroup cut their price objective on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Finally, Truist Financial reduced their price objective on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $112.73.

PACCAR Stock Performance

Shares of PCAR traded up $1.18 during mid-day trading on Friday, hitting $96.46. 1,771,613 shares of the company’s stock were exchanged, compared to its average volume of 2,634,815. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. PACCAR Inc has a fifty-two week low of $80.94 and a fifty-two week high of $125.50. The business’s 50 day moving average is $100.31 and its two-hundred day moving average is $108.04. The firm has a market capitalization of $50.56 billion, a P/E ratio of 10.01, a P/E/G ratio of 1.47 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.33 earnings per share. On average, equities analysts expect that PACCAR Inc will post 8.08 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be paid a $0.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 1.24%. PACCAR’s dividend payout ratio is currently 12.45%.

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.