Guggenheim Capital LLC Trims Stake in PACCAR Inc (NASDAQ:PCAR)

Guggenheim Capital LLC cut its stake in PACCAR Inc (NASDAQ:PCAR - Free Report) by 23.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 131,083 shares of the company's stock after selling 39,649 shares during the quarter. Guggenheim Capital LLC's holdings in PACCAR were worth $13,635,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PCAR. Meeder Asset Management Inc. raised its position in PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after purchasing an additional 193 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of PACCAR in the fourth quarter valued at $37,000. Kestra Investment Management LLC purchased a new position in PACCAR in the fourth quarter valued at $37,000. OFI Invest Asset Management purchased a new stake in PACCAR during the 4th quarter worth about $43,000. Finally, Atala Financial Inc acquired a new stake in PACCAR in the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 64.90% of the company's stock.

PACCAR Stock Performance

PCAR traded up $1.36 on Friday, hitting $88.17. 2,444,557 shares of the company traded hands, compared to its average volume of 2,754,462. The company has a 50 day moving average of $99.09 and a 200-day moving average of $105.76. PACCAR Inc has a 12-month low of $85.10 and a 12-month high of $118.81. The stock has a market capitalization of $46.28 billion, a PE ratio of 11.15, a PEG ratio of 2.77 and a beta of 0.96. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.56.

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

PACCAR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from PACCAR's previous quarterly dividend of $0.30. PACCAR's payout ratio is currently 16.69%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PCAR. Truist Financial reduced their target price on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. UBS Group downgraded PACCAR from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $108.00 to $78.00 in a report on Monday, April 7th. Citigroup decreased their target price on PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Melius Research set a $120.00 price objective on shares of PACCAR in a research report on Tuesday, March 18th. Finally, Morgan Stanley lowered shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 price target on the stock. in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $108.59.

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the business's stock in a transaction 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 sale, the vice president now directly owns 5,463 shares in the company, valued at approximately $612,129.15. The trade was a 26.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO R Preston Feight sold 25,200 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the completion of the transaction, the chief executive officer now owns 206,129 shares of the company's stock, valued at $22,876,196.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. Company insiders own 2.02% of the company's stock.

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.