Flputnam Investment Management Co. Sells 8,705 Shares of PACCAR Inc (NASDAQ:PCAR)

Flputnam Investment Management Co. cut its position in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,533 shares of the company's stock after selling 8,705 shares during the quarter. Flputnam Investment Management Co.'s holdings in PACCAR were worth $9,417,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PCAR. abrdn plc increased its position in shares of PACCAR by 7.4% during the third quarter. abrdn plc now owns 247,516 shares of the company's stock valued at $24,283,000 after purchasing an additional 17,084 shares during the period. First Trust Direct Indexing L.P. increased its holdings in PACCAR by 9.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 17,423 shares of the company's stock valued at $1,719,000 after buying an additional 1,508 shares during the period. Pinnacle Associates Ltd. increased its holdings in PACCAR by 3.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 11,619 shares of the company's stock valued at $1,135,000 after buying an additional 386 shares during the period. Norris Perne & French LLP MI raised its stake in shares of PACCAR by 64.8% in the 3rd quarter. Norris Perne & French LLP MI now owns 156,499 shares of the company's stock valued at $15,443,000 after buying an additional 61,540 shares in the last quarter. Finally, Pacific Sage Partners LLC lifted its holdings in shares of PACCAR by 3.3% during the 3rd quarter. Pacific Sage Partners LLC now owns 18,017 shares of the company's stock worth $1,778,000 after acquiring an additional 576 shares during the period. 64.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other PACCAR news, 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 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 trade represents a 26.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael K. Walton sold 6,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the completion of the sale, the vice president now directly owns 951 shares of the company's stock, valued at approximately $100,929.63. This trade represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 165,547 shares of company stock valued at $18,261,908. Company insiders own 2.02% of the company's stock.

PACCAR Trading Down 2.7 %

Shares of NASDAQ PCAR traded down $2.87 during midday trading on Tuesday, hitting $102.15. The stock had a trading volume of 1,901,913 shares, compared to its average volume of 2,480,410. The firm has a market cap of $53.61 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 2.77 and a beta of 0.92. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The company's 50-day simple moving average is $107.25 and its 200 day simple moving average is $105.88.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts' consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Research analysts anticipate that PACCAR Inc will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR's previous dividend of $0.89. PACCAR's dividend payout ratio (DPR) is presently 16.69%.

Analyst Ratings Changes

Several research firms recently issued reports on PCAR. Citigroup dropped their price target on shares of PACCAR from $125.00 to $115.00 and set a "neutral" rating for the company in a research report on Tuesday, January 14th. Royal Bank of Canada reissued a "sector perform" rating and issued a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. JPMorgan Chase & Co. raised their target price on PACCAR from $125.00 to $132.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and upped their price target for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. Finally, Evercore ISI cut their price objective on PACCAR from $129.00 to $127.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $121.77.

PACCAR 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.