Elo Mutual Pension Insurance Co Reduces Stock Holdings in PACCAR Inc (NASDAQ:PCAR)

Elo Mutual Pension Insurance Co lowered its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 21.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,322 shares of the company's stock after selling 9,946 shares during the quarter. Elo Mutual Pension Insurance Co's holdings in PACCAR were worth $3,778,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in shares of PACCAR by 53.3% during the 3rd quarter. Wellington Management Group LLP now owns 13,434,115 shares of the company's stock valued at $1,325,678,000 after buying an additional 4,669,172 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of PACCAR by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 3,515,184 shares of the company's stock worth $346,878,000 after purchasing an additional 1,164,692 shares during the period. Bank of New York Mellon Corp increased its stake in shares of PACCAR by 1.8% in the fourth quarter. Bank of New York Mellon Corp now owns 3,505,964 shares of the company's stock worth $364,690,000 after purchasing an additional 61,457 shares in the last quarter. Principal Financial Group Inc. increased its stake 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 worth $335,334,000 after purchasing an additional 178,813 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of PACCAR by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,149,396 shares of the company's stock valued at $327,600,000 after purchasing an additional 96,497 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of equities research analysts have issued reports on PCAR shares. Citigroup cut their price target on PACCAR from $112.00 to $105.00 and set a "neutral" rating for the company in a research note on Monday. Jefferies Financial Group downgraded 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. Melius Research set a $120.00 price target on PACCAR in a research note on Tuesday, March 18th. UBS Group lowered shares of PACCAR from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $124.00 to $108.00 in a research report on Tuesday, March 18th. Finally, Truist Financial lifted their target price on PACCAR from $112.00 to $113.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PACCAR currently has a consensus rating of "Moderate Buy" and an average price target of $117.54.

PACCAR Trading Up 0.7 %

Shares of PACCAR stock traded up $0.69 on Tuesday, hitting $98.06. 1,239,248 shares of the company traded hands, compared to its average volume of 2,648,284. PACCAR Inc has a 52 week low of $90.04 and a 52 week high of $124.39. The company has a market cap of $51.48 billion, a PE ratio of 12.38, a PEG ratio of 2.77 and a beta of 0.91. The stock's 50 day moving average price is $104.93 and its 200-day moving average price is $106.74. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 EPS 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%. Equities research analysts predict that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were issued a $0.33 dividend. This is a positive change from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Wednesday, February 12th. PACCAR's payout ratio is currently 16.69%.

Insider Transactions at PACCAR

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $112.05, for a total transaction of $224,100.00. Following the transaction, the vice president now owns 5,463 shares in the company, valued at approximately $612,129.15. This represents a 26.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of PACCAR stock in a transaction on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the sale, the chief executive officer now owns 206,129 shares of the company's stock, valued at $22,876,196.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,547 shares of company stock valued at $18,261,908. Corporate 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.