PACCAR Inc (NASDAQ:PCAR) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its stake in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 59.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,657 shares of the company's stock after selling 15,814 shares during the quarter. Edgestream Partners L.P.'s holdings in PACCAR were worth $1,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its holdings in PACCAR by 47.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock worth $1,006,033,000 after acquiring an additional 3,296,146 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of PACCAR by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,415,637 shares of the company's stock valued at $557,572,000 after acquiring an additional 171,317 shares during the period. Fisher Asset Management LLC raised its stake in PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock worth $511,254,000 after acquiring an additional 89,245 shares during the last quarter. Legal & General Group Plc grew its stake in PACCAR by 5.9% during the 2nd quarter. Legal & General Group Plc now owns 4,329,525 shares of the company's stock valued at $445,681,000 after purchasing an additional 242,435 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of PACCAR by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,398,193 shares of the company's stock valued at $335,334,000 after purchasing an additional 178,813 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley cut their price target on shares of PACCAR from $135.00 to $126.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Citigroup raised their target price on shares of PACCAR from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. cut their price target on PACCAR from $125.00 to $122.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Truist Financial boosted their price objective on PACCAR from $103.00 to $107.00 and gave the company a "hold" rating in a report on Wednesday, October 23rd. Finally, Evercore ISI upgraded PACCAR from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $117.64.

PACCAR Trading Down 0.7 %

NASDAQ PCAR traded down $0.79 during trading hours on Thursday, reaching $117.62. The company had a trading volume of 2,029,010 shares, compared to its average volume of 2,589,358. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $61.67 billion, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 1.83 and a beta of 0.91. The stock has a 50-day moving average of $108.75 and a 200 day moving average of $103.53. PACCAR Inc has a 1-year low of $90.04 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The firm had revenue of $8.24 billion during the quarter, compared to analysts' expectations of $7.66 billion. During the same quarter last year, the company posted $2.34 EPS. The firm's quarterly revenue was down 5.2% on a year-over-year basis. As a group, research analysts anticipate that PACCAR Inc will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Wednesday, November 13th. PACCAR's dividend payout ratio (DPR) is currently 13.41%.

Insider Buying and Selling

In other PACCAR news, SVP Kevin D. Baney sold 9,894 shares of the business's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $107.00, for a total transaction of $1,058,658.00. Following the completion of the transaction, the senior vice president now owns 7,121 shares in the company, valued at $761,947. The trade was a 58.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO R Preston Feight sold 27,191 shares of PACCAR 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 sale, the chief executive officer now directly owns 171,776 shares of the company's stock, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock valued at $6,358,552 in the last ninety days. Company insiders own 2.02% of the company's stock.

PACCAR Company 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.