PACCAR Inc (NASDAQ:PCAR) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 46.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,276 shares of the company's stock after selling 54,984 shares during the period. Assenagon Asset Management S.A.'s holdings in PACCAR were worth $6,478,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Blair William & Co. IL increased its position in shares of PACCAR by 5.0% in the second quarter. Blair William & Co. IL now owns 27,322 shares of the company's stock valued at $2,813,000 after acquiring an additional 1,289 shares during the period. Ieq Capital LLC raised its holdings in shares of PACCAR by 8.0% during the second quarter. Ieq Capital LLC now owns 20,958 shares of the company's stock valued at $2,157,000 after acquiring an additional 1,555 shares in the last quarter. AE Wealth Management LLC boosted its holdings in PACCAR by 33.7% in the second quarter. AE Wealth Management LLC now owns 3,887 shares of the company's stock valued at $400,000 after acquiring an additional 980 shares in the last quarter. Pacer Advisors Inc. increased its position in PACCAR by 2.7% during the 2nd quarter. Pacer Advisors Inc. now owns 68,222 shares of the company's stock valued at $7,023,000 after purchasing an additional 1,776 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in PACCAR by 34.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 151,067 shares of the company's stock worth $15,550,000 after purchasing an additional 38,373 shares in the last quarter. 64.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares of the company's stock, valued at approximately $17,782,251.52. This represents a 13.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the sale, the chief financial officer now directly owns 105,558 shares of the company's stock, valued at approximately $11,287,316.94. This trade represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,315 shares of company stock worth $6,358,552. Company insiders own 2.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of PACCAR from $122.00 to $125.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Evercore ISI raised PACCAR from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $99.00 to $129.00 in a research report on Wednesday, November 13th. Truist Financial raised their price objective on PACCAR from $110.00 to $112.00 and gave the company a "hold" rating in a research report on Thursday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $119.00 price target on shares of PACCAR in a research note on Monday, November 4th. Finally, Citigroup cut their target price on shares of PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, PACCAR presently has a consensus rating of "Hold" and an average target price of $120.13.

PACCAR Stock Up 0.8 %

Shares of PCAR opened at $110.33 on Monday. The stock has a market capitalization of $57.85 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.72 and a beta of 0.93. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The stock has a 50 day moving average price of $111.10 and a 200 day moving average price of $104.06. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.03 and a current ratio of 1.25.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm's revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.34 earnings per share. Equities research analysts forecast that PACCAR Inc will post 7.92 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued 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 dividend payout ratio is currently 13.41%.

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.