PACCAR Inc (NASDAQ:PCAR) Shares Sold by abrdn plc

abrdn plc cut its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 231,597 shares of the company's stock after selling 15,919 shares during the period. abrdn plc's holdings in PACCAR were worth $24,017,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Grove Bank & Trust lifted its holdings in PACCAR by 28.4% in the 3rd quarter. Grove Bank & Trust now owns 466 shares of the company's stock valued at $46,000 after purchasing an additional 103 shares in the last quarter. Sander Capital Advisors Inc. acquired a new position in shares of PACCAR during the 3rd quarter valued at about $50,000. Ashton Thomas Securities LLC acquired a new stake in PACCAR during the third quarter worth about $52,000. AdvisorNet Financial Inc boosted its holdings in PACCAR by 223.4% in the 4th quarter. AdvisorNet Financial Inc now owns 566 shares of the company's stock valued at $59,000 after purchasing an additional 391 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in shares of PACCAR during the 4th quarter worth approximately $76,000. Hedge funds and other institutional investors own 64.90% of the company's stock.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 25,200 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the sale, the chief executive officer now owns 206,129 shares in the company, valued at $22,876,196.42. This represents a 10.89 % 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 company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the completion of the sale, the vice president now directly owns 5,463 shares of the company's stock, valued at $612,129.15. The trade was a 26.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 130,871 shares of company stock worth $14,586,333 over the last 90 days. Corporate insiders own 2.02% of the company's stock.

PACCAR Trading Up 0.1 %

NASDAQ PCAR opened at $106.11 on Tuesday. The stock has a market capitalization of $55.63 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 2.79 and a beta of 0.92. The firm has a 50 day moving average of $109.49 and a two-hundred day moving average of $104.64. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $125.50. The company has a quick ratio of 1.39, a current ratio of 1.67 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued 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 return on equity of 23.53% and a net margin of 12.36%. As a group, research analysts expect that PACCAR Inc will post 7.6 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR's previous dividend of $0.89. PACCAR's payout ratio is 15.17%.

Wall Street Analysts Forecast Growth

PCAR has been the subject of several recent analyst reports. Evercore ISI raised PACCAR from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $99.00 to $129.00 in a research note on Wednesday, November 13th. BNP Paribas raised shares of PACCAR to a "hold" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $125.00 to $132.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Citigroup decreased their price objective on shares of PACCAR from $125.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. Finally, Jefferies Financial Group lowered PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a research report on Friday, December 6th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $121.95.

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.