Corient Private Wealth LLC Sells 98,837 Shares of PACCAR Inc (NASDAQ:PCAR)

Corient Private Wealth LLC trimmed its position in PACCAR Inc (NASDAQ:PCAR - Free Report) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,282,014 shares of the company's stock after selling 98,837 shares during the quarter. Corient Private Wealth LLC owned 0.44% of PACCAR worth $237,376,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Gitterman Wealth Management LLC bought a new stake in shares of PACCAR during the fourth quarter worth $353,000. one8zero8 LLC bought a new stake in shares of PACCAR during the fourth quarter worth $2,882,000. Natixis Advisors LLC grew its stake in shares of PACCAR by 20.8% during the fourth quarter. Natixis Advisors LLC now owns 1,042,761 shares of the company's stock worth $108,468,000 after buying an additional 179,577 shares during the last quarter. Frank Rimerman Advisors LLC grew its stake in shares of PACCAR by 1.4% during the fourth quarter. Frank Rimerman Advisors LLC now owns 37,040 shares of the company's stock worth $3,853,000 after buying an additional 511 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new stake in shares of PACCAR during the fourth quarter worth $996,000. 64.90% of the stock is owned by institutional investors.

Insider Transactions at PACCAR

In other news, EVP Darrin C. Siver sold 103,671 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $111.56, for a total transaction of $11,565,536.76. Following the completion of the sale, the executive vice president now directly owns 61,005 shares of the company's stock, valued at $6,805,717.80. The trade was a 62.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael K. Walton sold 6,000 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the sale, the vice president now directly owns 951 shares of the company's stock, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 165,547 shares of company stock valued at $18,261,908 over the last three months. Corporate insiders own 2.02% of the company's stock.

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PACCAR Stock Down 1.3 %

PCAR traded down $1.27 during midday trading on Thursday, hitting $98.32. The company had a trading volume of 2,483,324 shares, compared to its average volume of 2,505,775. 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 2.54 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $51.60 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 2.77 and a beta of 0.91. The stock's 50 day moving average price is $106.68 and its 200 day moving average price is $106.45.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly 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 net margin of 12.36% and a return on equity of 23.53%. On average, research analysts anticipate that PACCAR Inc will post 7.57 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 20th. This is an increase from PACCAR's previous dividend of $0.89. PACCAR's payout ratio is presently 16.69%.

Wall Street Analyst Weigh In

PCAR has been the topic of a number of research reports. Jefferies Financial Group cut shares of PACCAR from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a research note on Friday, December 6th. Truist Financial boosted their target price on shares of PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $132.00 to $121.00 and set an "overweight" rating on the stock in a research note on Tuesday. Citigroup cut their price target 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, Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $118.23.

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.