Burney Co. Sells 6,206 Shares of PACCAR Inc (NASDAQ:PCAR)

Burney Co. decreased its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 16.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,550 shares of the company's stock after selling 6,206 shares during the quarter. Burney Co.'s holdings in PACCAR were worth $3,178,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. CVA Family Office LLC lifted its holdings in shares of PACCAR by 13.3% during the 3rd quarter. CVA Family Office LLC now owns 827 shares of the company's stock valued at $82,000 after buying an additional 97 shares during the last quarter. Global Financial Private Client LLC raised its position in PACCAR by 1.0% during the fourth quarter. Global Financial Private Client LLC now owns 9,716 shares of the company's stock valued at $1,011,000 after acquiring an additional 97 shares in the last quarter. Omnia Family Wealth LLC grew its position in PACCAR by 2.5% in the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company's stock worth $394,000 after acquiring an additional 98 shares in the last quarter. Grove Bank & Trust grew its position in PACCAR by 28.4% in the third quarter. Grove Bank & Trust now owns 466 shares of the company's stock worth $46,000 after acquiring an additional 103 shares in the last quarter. Finally, Insight Wealth Partners LLC increased its stake in shares of PACCAR by 1.4% during the 3rd quarter. Insight Wealth Partners LLC now owns 7,700 shares of the company's stock worth $760,000 after purchasing an additional 104 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Price Performance

NASDAQ PCAR traded down $0.15 during trading hours on Thursday, reaching $109.48. 1,891,396 shares of the company's stock were exchanged, compared to its average volume of 2,178,950. The firm has a fifty day moving average of $111.24 and a 200-day moving average of $103.93. PACCAR Inc has a one year low of $90.04 and a one year high of $125.50. The stock has a market cap of $57.40 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 1.72 and a beta of 0.93. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54.

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

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a dividend of $3.00 per share. This is a boost from PACCAR's previous dividend of $0.89. The ex-dividend date of this dividend was Friday, December 20th. PACCAR's dividend payout ratio is 13.41%.

Insider Activity at PACCAR

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PCAR. Jefferies Financial Group cut shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a report on Friday, December 6th. Truist Financial upped their price target on PACCAR from $110.00 to $112.00 and gave the stock a "hold" rating in a research note on Thursday. BNP Paribas raised PACCAR to a "hold" rating in a research note on Wednesday, October 16th. Morgan Stanley decreased their target price on PACCAR from $135.00 to $126.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $120.13.

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.