Glenmede Trust Co. NA Sells 44,788 Shares of PACCAR Inc (NASDAQ:PCAR)

Glenmede Trust Co. NA cut its holdings in shares of PACCAR Inc (NASDAQ:PCAR - Free Report) by 30.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,820 shares of the company's stock after selling 44,788 shares during the quarter. Glenmede Trust Co. NA's holdings in PACCAR were worth $10,245,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its stake in shares of PACCAR by 47.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,194,903 shares of the company's stock valued at $1,006,033,000 after buying an additional 3,296,146 shares in the last quarter. Dimensional Fund Advisors LP grew 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 increased its stake in shares of PACCAR by 1.8% during the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company's stock worth $511,254,000 after purchasing an additional 89,245 shares during the last quarter. Legal & General Group Plc lifted its stake in PACCAR by 5.9% in 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. lifted its stake in PACCAR by 5.6% in the 3rd 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 last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Morgan Stanley dropped their price target on PACCAR from $135.00 to $126.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price objective on shares of 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 lifted their target price on shares of PACCAR from $103.00 to $107.00 and gave the stock a "hold" rating in a report on Wednesday, October 23rd. Royal Bank of Canada reissued a "sector perform" rating and issued a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Finally, Citigroup boosted their price objective on PACCAR from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, November 20th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $117.64.

Insider Activity

In other news, CFO Harrie Schippers sold 20,000 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,558 shares in the company, valued at $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $103.52, for a total transaction of $2,814,812.32. Following the completion of the transaction, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,315 shares of company stock valued at $6,358,552. Insiders own 2.02% of the company's stock.

PACCAR Price Performance

NASDAQ PCAR traded up $0.82 during trading on Friday, hitting $117.00. 1,069,530 shares of the company's stock were exchanged, compared to its average volume of 2,605,578. The company has a market cap of $61.34 billion, a PE ratio of 13.07, a P/E/G ratio of 1.82 and a beta of 0.89. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. PACCAR Inc has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The stock's 50 day moving average price is $107.64 and its two-hundred day moving average price is $103.31.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the prior year, the business earned $2.34 earnings per share. The company's revenue for the quarter was down 5.2% compared to the same quarter last year. Research analysts expect that PACCAR Inc will post 7.98 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.03%. The ex-dividend date is Wednesday, November 13th. PACCAR's dividend payout ratio (DPR) is currently 13.41%.

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.