BI Asset Management Fondsmaeglerselskab A S Sells 16,913 Shares of PACCAR Inc (NASDAQ:PCAR)

BI Asset Management Fondsmaeglerselskab A S lessened its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 16.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,893 shares of the company's stock after selling 16,913 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in PACCAR were worth $9,143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PCAR. Meeder Asset Management Inc. grew its position in shares of PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after buying an additional 193 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of PACCAR during the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC bought a new position in PACCAR in the 4th quarter worth about $37,000. OFI Invest Asset Management purchased a new stake in PACCAR during the 4th quarter valued at $43,000. Finally, Atala Financial Inc bought a new position in PACCAR during the fourth quarter valued at approximately $43,000. Institutional investors own 64.90% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Citigroup lowered their target price on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Melius Research set a $120.00 price objective on PACCAR in a report on Tuesday, March 18th. Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Bank of America raised PACCAR from a "neutral" rating to a "buy" rating and upped their target price for the stock from $116.00 to $121.50 in a research note on Tuesday, January 14th. Finally, Truist Financial cut their price objective on PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $108.59.

PACCAR Stock Up 0.6 %

Shares of PCAR traded up $0.52 during mid-day trading on Wednesday, reaching $89.08. The company's stock had a trading volume of 2,799,060 shares, compared to its average volume of 2,752,541. The company has a market cap of $46.76 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96. PACCAR Inc has a 1 year low of $85.05 and a 1 year high of $118.81. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average of $98.44 and a 200 day moving average of $105.61.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its 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%. As a group, analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.48%. This is a positive change from PACCAR's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR's dividend payout ratio is presently 16.69%.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 25,200 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $110.98, for a total value of $2,796,696.00. Following the completion of the transaction, the chief executive officer now directly owns 206,129 shares of the company's stock, valued at approximately $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now owns 5,463 shares in the company, valued at $612,129.15. The trade was a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 165,547 shares of company stock worth $18,261,908. Insiders own 2.02% of the company's stock.

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.