Federated Hermes Inc. Sells 16,619 Shares of PACCAR Inc (NASDAQ:PCAR)

Federated Hermes Inc. trimmed its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 91.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,505 shares of the company's stock after selling 16,619 shares during the quarter. Federated Hermes Inc.'s holdings in PACCAR were worth $157,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Everence Capital Management Inc. bought a new position in PACCAR during the fourth quarter worth $1,984,000. Cullen Frost Bankers Inc. increased its stake in shares of PACCAR by 8.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company's stock worth $8,916,000 after purchasing an additional 6,494 shares during the period. LPL Financial LLC boosted its stake in PACCAR by 6.1% in the 4th quarter. LPL Financial LLC now owns 212,405 shares of the company's stock valued at $22,094,000 after purchasing an additional 12,143 shares during the period. Insight Wealth Strategies LLC grew its holdings in PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company's stock valued at $4,061,000 after buying an additional 6,936 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in PACCAR by 19.3% during the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the company's stock worth $138,000 after buying an additional 214 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR Price Performance

Shares of PACCAR stock traded up $0.13 during midday trading on Wednesday, hitting $88.69. 1,323,824 shares of the company traded hands, compared to its average volume of 2,745,547. The stock has a market cap of $46.56 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The firm's fifty day moving average price is $98.44 and its 200-day moving average price is $105.61. PACCAR Inc has a 12 month low of $85.05 and a 12 month high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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, sell-side analysts forecast that PACCAR Inc will post 7.57 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were given a $0.33 dividend. The ex-dividend date was Wednesday, February 12th. This is an increase from PACCAR's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.49%. PACCAR's dividend payout ratio (DPR) is currently 16.69%.

Insider Transactions at PACCAR

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total value of $636,780.00. Following the sale, the vice president now owns 951 shares in the company, valued at approximately $100,929.63. The trade was a 86.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of the firm'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 transaction, the vice president now owns 5,463 shares of the company's stock, valued at $612,129.15. This trade represents a 26.80 % 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 worth $18,261,908. Insiders own 2.02% of the company's stock.

Wall Street Analysts Forecast Growth

PCAR has been the subject of a number of recent research reports. Morgan Stanley cut shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price for the company. in a research report on Wednesday, April 16th. Bank of America upgraded shares of PACCAR from a "neutral" rating to a "buy" rating and increased their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Melius Research set a $120.00 price target on shares of PACCAR in a research report on Tuesday, March 18th. Truist Financial cut their price target on PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. dropped their price objective on PACCAR from $121.00 to $105.00 and set an "overweight" rating for the company in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $108.59.

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.